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Buying a car is an event that brings in an enormous amount of joy and apprehension at the same time. This is because unfortunately, any vehicle plying on the roads is susceptible to numerous risks of accidents or damage; often involving the third party. Cars are expensive, and any such untoward incident might rob you of your hard earned money.
It is thus necessary to buy a good car insurance policy to safeguard your vehicle against any such occurrence. This article will provide you the essential details regarding Third-Party coverage with Cholamandalam car insurance.
When you are driving on the roads, you become intertwined with the lives of numerous people around you. Regardless of how good a driver you are, there is always a risk of some unfortunate accident which might include a third party. And then a blame game might ensue, enhancing your troubles. In such cases, third party policies might turn to your advantage.
The policy shall cover all the compensation costs, including property damage and bodily injury liability involved in the accident. This is purchased by the insured from the insurer which is the second party as a safeguard against any claims made by a third party in case of any accident. The beneficiary of this policy is thus the third party which is not directly involved in buying it but, has become the legal liability of the first party.
Driving is a risky business. It is thus necessary to buy this third party motor insurance so as to avoid burdening your pocket if an accident causes damage that involves a third party. Hence, your third party coverage might turn out to be a lifesaver by cutting down your expenditure.
Benefits of the policy
Cholamandalam car insurance provides you with a broad range of benefits as mentioned below:
- It provides a complete comprehensive cover that offers both Third Party Cover and Own Damage Cover.
- The Third Party Liability Cover includes TP Personal Liability & Property Liability.
- Third Party Property Damage includes a maximum cover of Rs.7, 50,000, in the case of private cars.
- It provides Personal Accident Cover for the owner, driver, and passengers.
- It provides protection for your vehicle against damage or loss due to accidental external means, theft, burglary and various other perils.
- Discount on Own Damage (OD) premium for claim free policy years – No Claim Bonus can also be availed.
- The Own Damage Cover protects against loss due to fire, burglary, earthquakes, floods, terrorist activity, landslide, etc.
- It provides optional cover for a personal accident of up to Rs. 2 lakhs for passengers in your car.
- Cashless claims facility available at more than 600 Chola MS preferred garages
- Seamless and hassle-free claims process
- Facility to buy online car insurance through simple and hassle-free procedures
- Quick and easy online insurance renewal process
Third Party coverage with Cholamandalam car insurance thus provides you with a wholesome package that can help you get rid of all your worries in case of an untoward accident.
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