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Motor Policy

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  • Proposal Form(Package)(59 KB)
  • Claim Form (46 KB)
  • Dos and Don'ts of Motor policy(37 KB)

Any Query on this policy mail us at:
motor[dot]nia(at)newindia[dot]co[dot]in

More Personal Policies

Personal Insurance:
  • Highlights
  • Scope
  • Add on covers
  • Who can take the policy?
  • How to select the sum insured?
  • How to claim?

This policy covers all types of vehicles plying on public roads.

Highlights

This policy covers all types of vehicles plying on public roads such as:-

  • Scooters & Motorcycles
  • Private cars
  • All types of commercial vehicles
  • Motor Trade (vehicles in show rooms and garages)

As per the Motor Vehicles Act, 1988 it is mandatory for every owner of a vehicle plying on public roads, to take an insurance policy, to cover the amount, which the owner becomes legally liable to pay as damages to third parties as a result of accidental death, bodily injury or damage to property. A Certificate of Insurance must be carried in the vehicle as a proof of such insurance.

Two types of covers are available:

  1. Liability only policy. This covers third party liability for bodily injury liability and / or death and property damage. Personal Accident cover for Owner-driver is also included.
  2. Package policy. This cover loss or damage to the vehicle insured in addition to (1) above.

No- claim discounts are available on renewal of policy, ranging from 20% to 50%, depending upon the type of vehicle and the number of years for which no claim has been made.

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Scope

Liability Only policies:

The policy covers the vehicle owner's legal liability to pay compensation for:

  1. Death or bodily injury to a third party person.
  2. Damage to third party property.

Liability is covered for an unlimited amount in respect of death or injury and damage to third party property for Rs.7.5 lacs under Commercial vehicle and private and Rs. 1 lakh for Scooters / Motor Cycles.

Package Policy

In addition to the coverage under liability only, this policy covers loss or damage to the insured vehicle and its accessories due to:

  1. Fire, explosion, self-ignition or lightning.
  2. Burglary, housebreaking or theft.
  3. Riot and Strike.
  4. Malicious Act.
  5. Terrorist Act.
  6. Earthquake (Fire and Shock) Damage.
  7. Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone and Hailstorm.
  8. Accidental external means.
  9. Whilst in transit by road, inland waterway, lift, elevator or air.
  10. By landslide/Rockslide

The policy also pays for towing charges from the place of accident to the workshop upto a maximum limit of Rs.300/- for Scooters/Motorcycles and Rs.1500/- for cars and commercial vehicles. It is also permissible to opt for higher towing charges subject to payment of extra premium.

A restricted cover is also available covering the risk of Fire and/or Theft only, in addition to the compulsory cover granted under "Liability Only Policy". However the same is not available in case of vehicle ratable under Class D, Tariff for Miscellaneous and special types of vehicles.

The important exclusions under the policies are:

  • Wear and tear, breakdowns
  • Consequential loss
  • Loss when driving with invalid driving license or under the influence of alcohol.
  • Loss due to war, civil war, etc.
  • Claims arising out of contractual liability.
  • Use of vehicle otherwise than in accordance with `limitations as to use ' (e.g. private car being used as a taxi)

Rating factors

Rating depends upon the following factors:

  1. IDV.
  2. Cubic capacity
  3. Geographical zone
  4. Age of the vehicle
  5. GVW of in case of commercial vehicles
  6. Add on Covers
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Add on covers

The New India Assurance Co. Ltd, which is the premier General Insurance Company of India and owned by Govt. of India,in its endeavor to provide more protection to its esteemed customersis providing certain Add-on Covers along with its standard Motor Package Policy. Such add-on covers are available for Private Cars(PC), Two Wheelers(TW) and Commercial Vehicles(CV).

  • Nil Depreciation Cover (For PC, TW & CV)

    Nil Depreciation Cover relieves the customers from bearing the depreciation of 5% - 50%on various parts (metal, plastic, fiber or rubber) in the event of loss due to accident. Almost all the expenses associated with the repairs of loss would be taken care of by the company. There will be no need to pay depreciation from your savings in case of partial losses. This will be possible with New India’s Add-on cover of NIL Depreciation.

    The cover is available for PC, TW and CV as follows:

    • Private Car Package Policy – Enhancement Cover - upto 5 years of vehicle age (upto 3 years of vehicle age on Customer and other Portals)
    • Two Wheeler Package Policy – Enhancement Cover - upto 5 years of vehicle age (upto 3 years of vehicle age on Customer and other Portals)
    • Commercial Vehicle Package Policy - Enhancement Cover { upto 5 years of age (upto 3 years of vehicle age on Customer and other Portals), applicable only for Goods Carrying Vehicle & Passenger Carrying Vehicle(1+9 seater only)}

  • Inclusion of Road Tax Cover (For PC) The cover provides protection against the Road Tax (to the extent covered) that insured may have to pay while replacing the car due to major accident to his present car. Under this cover where the claim is finalized on Total loss basis, the Road Tax to the Extent covered in the policy shall be reimbursed. The cover is available for Private Car upto5 years of age.
  • Return to Invoice (For PC) This cover is available upto 3 years of age of the car, and allows the insured to be indemnified towards the difference between the IDV of the vehicle as per policy and the dealer listed selling price (Ex-Showroom price) of same make and model on the date of accident at the place of registration of the vehicle. This cover is available for cars with Invoice price uptoRs. 20 Lakhs.
  • NCB Protection Cover (For PC) The cover allows customer to be entitled to the next slab of No Claim Bonuseven after payment of an OD Claim. The cover is valid upto 2 admissible OD claims and available for Private cars upto 7 years of age.The cover will ensure saving of OD premium in range of 20%-50% at the time of renewal, except where insured takes more than 2 OD Claims during the policy period.
  • Engine Protect Cover (For PC) This cover provides protection against any consequential losses to the engine (one of the costliest part of your car) and its parts due to ingress of water due to any reason, thus indemnifying losses to Engine of your car on water logged roads in monsoon. The cover is available upto 5 years of age of the car.
  • Additional Towing Charges (For PC) This extension provides increased towing charges as it allows reimbursement of towing charges upto Rs.10,000in 2 admissible claims for private Car. The cover is availableupto 7 years of age. This cover is over and above the normal payable towing charges of Rs. 1500, which is provided with a standard package policy.
  • Loss of Content Cover (For PC) The cover allows protection upto Rs.20,000 with a cap of 20% of sum insured(upto Rs.4000) for each individual item or actual value of lost item, whichever is less for the loss of personal belongings in an accident. Personal belongings shall mean items such as clothes and other articles of personal nature likely to be worn by the insured including jewelry, vehicle key, mobile, laptop, audio/video tapes, CDS but shall exclude money, securities, cheque, bank drafts,credit/debit cards, travel tickets, paintings, curios and items of similar nature. The cover is available upto age of 7 years of your car. (For further details please call our Toll-free No 18002091415 or contact any of our nearest office.)
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Who can take the policy?

Any vehicle owner whose vehicle is registered in his/her name with the Regional Transport Authority in India.

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How to select the sum insured?

The sum insured of a vehicle in a Motor Policy is referred to as the I.D.V., which stands for Insured's declared Value.

In case of theft of vehicle or if the vehicle is totally damaged and beyond repairs in an accident, the claim amount payable will be determined on the basis of the IDV. The IDV of the vehicle is to be fixed on the basis of manufacturer's listed selling price of the brand and model of the vehicle proposed for insurance at the commencement of insurance / renewal and adjusted for depreciation as per schedule.

IDV of vehicle which is beyond 5 years of age and of obsolete models of the vehicles (i.e. models which the manufacturers have discontinued to manufacture) is to be determined on the basis of an understanding between insurer and insured.

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How to claim?

In the event of an incident giving rise to a claim under the policy, the following steps should be taken:

In case of accidental damage to the vehicle:

  1. Immediate intimation to the nearest office, which will issue a Claim Form.
  2. Claim Form duly filled in to be submitted along with copy of Registration Certificate and driving license of the driver of the vehicle at the time of accident as also estimate of repairs.
  3. Vehicle will be surveyed by a Surveyor, appointed by the insurance company, who shall submit his report to the company. In case of a major damage to the vehicle, a spot survey, at the site of accident, would also be arranged by the company.
  4. Final bills/cash memos are to be submitted duly signed by the insured.
  5. Salvage of the damaged parts may be required to be deposited with the insurance company after approval of the claim.

In case of theft of the vehicle:

  1. Lodge an F.I.R. with the police immediately.
  2. Inform the policy issuing office with a copy of FIR.
  3. Submit the Final Police Report as soon as it is received.
  4. Extend full cooperation to the surveyor and/or investigator appointed by the company.
  5. After approval of the claim by the company, get the Registration Certificate transferred in the name of the company, hand over the keys of the vehicle, submit a letter of Subrogation and Indemnity on stamp paper duly notarized.

In case of liability claim:

  1. Inform insurance company immediately of any incident likely to give rise to liability claim.
  2. On receipt of summons from Court, the same should be sent to the company immediately.
  3. Claim Form duly filled in along-with copies of Registration Certificate, Diving License, FIR are to be submitted.
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Note: Policy details given are indicative, not exhaustive. Please contact your nearest NIA office for further details.

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  • Personal Accident Policy
  • Overseas Mediclaim Policy
  • Householder's Policy
  • Motor Policy
  • Money Insurance
  • Rasta Apatti Kavach (Road Safety Insurance)
  • Suhana Safar Policy
  • TV/VCR/VCP Insurance
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  • Group Mediclaim Policy

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Car Insurance

WHY CAR INSURANCE?

Your car is your reason for joy, happiness and immense pride. It gives you independence, freedom and the ease to move around. While buying a car is always a great emotional moment for the entire family, it is also one of the most important purchase decisions you ever made.

Once you buy a car it becomes crucial to protect your vehicle against risks and uncertainties. The moment your car rolls down the road, it is prone to many unforeseen hazards such as accidents, fire, theft and loss of vehicle, resulting in sudden and huge expenses that may drain out your hard earned money.

A good car insurance policy makes sure your vehiclestays safe and secure against any unfortunate event and your expenses are completely covered in the wake of any such incidents.

A GOOD MOTOR INSURANCE POLICY MEANS:

  • The damage done to a third party is completely covered.
  • 24/7 help and assistance in case of an accident or a sudden breakdown.
  • Easy, smooth and hassle free claim settlement process.
  • A wide network of cashless garages for easy claims
  • Instant Online Policy buying and renewal.

CHOLA MS comprehensive car insurance policy

provides you with all the above benefits along with a complete peace of mind and sense of security. Not only does it cover your vehicle from accidents and losses but also from the damage done through natural calamities like earthquake, cyclones and floods. Our easy to buy online vehicle insurance policy ensures that your vehicle is in safe hands and your losses are covered in the most optimum manner.

India Motor tariff UIN IRDAN123P0025V01200203

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Customers Reviews

Average Rating: 4.67 (Based on 36 ratings) 5 Star: 24 4 Star: 12 3 Star: 0 2 Star: 0 1 Star: 0 Share Tweet
  • 4 5 stars Raghavendra Krishnamurthy 17-Apr-2016 All the Services have been good So far, Please keep it up
  • 4 5 stars Om Prakash Gupta 03-Mar-2016 IT WAS VERY NICE TO GET CALLS TO REMIND ABOUT THE POLICY RENEWAL
  • 4 5 stars B Raja 24-Feb-2016 Very good and smooth experience. Renewed my car policy within 5 minutes
  • 4 5 stars Manish Dattatraya Khot 10-Feb-2016 Renewal of policy is completely a hassle free experience
  • 4 5 stars S Dehaleesan 27-Jan-2016 I wish to convey my sincere thanks and appreciation to the entire Chola MS team. I had made a Motor Insurance claim for total loss of my car due to the recent floods in Chennai. Your company, after considering the claim and exercising all due diligence, has awarded 95% IDV claim as settlement, which is remarkable. Your company has been extremely cooperative in arranging for early inspection, towing of the vehicle to our yard at no cost & in arranging for best price sale. I have known instances of Govt. owned Insurance companies who are not as ethical as you are, and even some Private Insurers that delay the process, driving the policyholder to desperation. Your company and team stands tall among the Insurance companies I have come across. Your timely support & patience in handling stands out. The thing that I appreciate most is that at no point in time did any of your staff ever show any kind of haughtiness or disregard for the customer. Despite the heavy workload, they were ready to answer and offer the necessary guidance.
  • 4 5 stars Karunanithi M 13-Jan-2016 I own a Ford Ecosport that was damaged in the recent floods in Chennai. I relied on the team at Chola MS insurance to help me with the situation by giving me the impairing cover. I am grateful to them, especially the specially created team that worked exclusively on handling flood relief needs. They sent people out to the field to assess and attend to the damage caused by the floods. This was a great gesture in support of the people who suffered tremendous losses. I am one of the many who were benefited by this kind gesture. I am also extremely happy and fully appreciate their efforts in offering a proper and complete follow-up on the claims made, and in offering guidance in providing all the right documents at the right place.
  • 4 5 stars Lakshmi Ramachandran 10-Jan-2016 I had a very good experience with Chola MS. The Customer Care Executives who I interacted with, were very helpful and prompt in handling my claim. They explained the process very clearly and were thoroughly professional in all their interactions. I am buying a new car and will definitely come back to Chola for my second year renewal Thanks all of you
  • 4 5 stars S BALAJI 09-Jan-2016 My car was affected by the Chennai floods in December & the vehicle was covered by Chola MS General Insurance. Once the claim was made, the settlement was processed within just 3 days! I want to covey my wholehearted appreciation, for the prompt service rendered by CHOLA-MS in settling the claim, in a flawless & hassle-free manner and to the extreme satisfaction of the customer.
  • 4 5 stars M Deepak Director Wamec India 07-Jan-2016 I would like to express my sincere appreciation on how well my claim process was handled. I am fully satisfied with the kindness and experience of the Claims Manager. When the floods left us in this situation, I was worried, and did not know how the claims process would go, but thanks to Chola MS and its team of dedicated personnel, it was a walk in the park!
  • 4 5 stars Amudhuarasi Govindarajulu 04-Jan-2016 I was very glad to see their immediate response to my mail regarding my Car Insurance. Their representative got in touch with me immediately & confirmed that they will be taking formal delivery of my car the very next day. I was very happy with their quick response & action.
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