Cholamandalam MS Two Wheeler Insurance

Chola MS General Insurance Company Limited is a Joint Venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited, Japan. They are one of India’s leading insurance providers, offering a wide range of insurance plans. One of their key offerings is bike insurance plans. 

 

Chola MS Bike Insurance Plans are carefully curated to secure you against losses and damages that arise as a result of theft, accidents, natural calamities, etc. You can choose between three types of insurance plans, namely third-party liability bike insurance, own-damage bike insurance, and comprehensive bike insurance. 

Cholamandalam MS Two Wheeler Insurance Plans Available on Bajaj Markets

Types of Cholamandalam MS Two Wheeler Insurance

How to Buy Cholamandalam MS Two Wheeler Insurance Online

Follow these simple steps to purchase a Cholamandalam MS Two Wheeler on Bajaj Markets: 

 

• Step 1: Go on the bike insurance premium calculator page. 
• Step 2: Enter in relevant information regarding your bike. This will typically include your bike’s make, model, registration number, etc. 
• Step 3: Choose a plan that best suits your needs. 
• Step 5: You may also add any required add-ons at this stage. 
• Step 7: Make the Cholamandalam MS Two Wheeler Insurance premium payment. 

Key Features of Cholamandalam MS Two Wheeler Insurance Plans

Here are some of Cholamandalam Two-wheeler Insurance plan’s key features: 

 

• Affordable premiums 

• Get coverage against theft or loss

• 8,500+ cashless garages

• Choose from a wide range of add-ons 

Benefits of Cholamandalam MS Two Wheeler Insurance

Here are some benefits of the Cholamandalam Bike Insurance: 

1. Cashless Services 

With over 8,500 cashless garages, Chola MS makes cashless settlements simple and accessible. 

2. Quick and Simple Claim Settlement Process 

Cholamandalam MS offers both online and offline claim settlement services. Additionally, Cholamandalam MS Bike Insurance plans have a claim settlement ratio of 94%. A high claim settlement ratio indicates that the insurer is fair in their settlement dealings. 

3. Reimbursement Claims

Apart from cashless settlements, you can also get reimbursements against covered losses. When you make payments against covered losses and damages, be sure to collect these bills and receipts. You can raise a reimbursement claim and get your payment amount indemnified. 

4. Minimal Documentation

Whether it’s for purchasing your bike insurance plans or for filing a claim, Chola MS only requires a few basic and essential documents to process your requests. This means that you needn’t submit a lengthy list of documents or go through extensive paperwork. 

5. Extensive Coverage 

Get coverage up to ₹15 Lakhs in the event of an accidental death or disability of the registered owner while driving. Additionally, Chola MS bike insurance plan also secures against third-party injuries and property damages. 

What’s Covered & Not Covered

Here’s a table showing some of the inclusions and exclusions under Chola MS Bike Insurance plans: 

Note: kindly refer to the Chola MS Bike Insurance policy document to get a better understanding of all relevant inclusions and exclusions.

Factors Influencing the Premium of Cholamandalam MS Two Wheeler Insurance

Here are some factors that affect the Cholamandalam MS Bike Insurance premium: 

1. Bike’s Market Value 

Your bike insurance premium is affected by your bike’s market value. If your bike’s market value is on the higher end, your bike insurance premium will also be proportionately higher. 

2. Bike’s Age 

Your bike’s age is another factor that influences your bike insurance premium. Generally, older bikes have higher premiums than newer bikes. This is because insurers anticipate older bikes to run into more problems than newer bikes. 

3. Riding History 

If you have a history of raising claims frequently or driving rashly, chances are that your insurance premium will be on the higher side. This is because having a history of frequent claims flags you as a risky driver who is likely to raise more claims in the future. 

4. Anti-theft Devices

Installing anti-theft devices in your bike can help lower your insurance premium amount. This is because such devices lower the chances of theft significantly. This also signals to the insurer that you have taken adequate measures to safeguard your bike, making your claim settlement process simpler as well. 

5. Modifications 

Modifications can drive up your insurance premium as they require additional coverage. Consider avoiding unnecessary modifications to keep your insurance premium costs low. 

6. No-claim Bonus 

A no-claim bonus in bike insurance is awarded when you do not make any claims during your policy year. This is usually given as a discount on insurance renewals. When you go for a Cholamandalam Bike Insurance Renewal, a no-claim bonus can come in handy! So, avoid making unnecessary claims to take advantage of a no-claim bonus. It’s also worth noting that no-claim bonuses are generally transferable. 

How to Calculate the Premium for Cholamandalam MS Two Wheeler Insurance

You can ascertain the Chola MS bike insurance premium amount using the bike insurance premium calculator on Bajaj Markets. Here’s how you can get started: 

• Step 1: Fill in your phone number, vehicle registration number and other required details. 

• Step 2: Mention whether your bike insurance policy is active or has expired. 

• Step 3: Choose a bike insurance policy that works best for you. 

• Step 4: Compare and contrast between the insurance plans presented to you. 

Add-on Covers Offered By Cholamandalam MS

Add-on plans offer coverage against damages and losses that are not covered by a basic bike insurance plan. Here are some add-ons offered by Chola MS: 

1. Full Depreciation Waiver Cover

When you purchase this add-on, you will receive reimbursement for the total cost of the parts replaced without accounting for depreciation. 

2. Consumables Plus

This add-on covers consumable items such as nuts and bolts. 

3. Return to Invoice Cover

Return to Invoice Cover makes you eligible for a compensation that is equivalent to the car's invoice value in case it is stolen or damaged beyond repair. 

4. Hydrostatic Lock Cover

A Hydrostatic Lock Cover offers coverage against damages caused to the engine and other parts due to waterlogging. This add-on is ideal for bike owners living in flood-prone areas.