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Top 10 Cholamandalam MS Car Insurance Alternatives Online

The best car insurance gives you the right cover at the right price and is there in your hour of need. We’ve given comprehensive policies a policy score for the level of cover they provide, and surveyed customers to give a customer satisfaction rating.

Top 10 Cholamandalam MS Car Insurance Alternatives Online

We’ve also picked out policies that are suitable for all car insurance needs. That being said, it’s always a good idea to compare quotes from a range of providers to make sure you’re getting the right cover at the right price.

When shopping for the best car insurance policy, you should consider a company's costs, available discounts, customer service reviews, and claims-filing process. We ranked the top car insurance companies to find the best car insurance solution for you.

We also ranked the best car insurance companies for specific types of needs, whether you care more about customer service than cost or if you have a history of driving violations.

Our top 10 picks for Best Car Insurance Alternatives for Cholamandalam MS are:-

  1. Digit Car Insurance
  2. Kotak Mahindra Car Insurance
  3. Magma HDI Car Insurance
  4. Reliance Car Insurance
  5. Shriram Car Insurance
  6. National Car Insurance
  7. New India Assurance Car Insurance.
  8. United India Car Insurance
  9. Oriental Car Insurance
  10. Acko Car Insurance.

Cholamandalam MS Car Insurance:

The company is well known for its high customer ratings and affordable coverage options, including accident forgiveness. However, it has strict eligibility requirements and not everyone qualifies for coverage.

What is Covered?
  • Decision on claims approval within 7 working days from the receipt of all documents.
  • Guaranteed 24*7 customer support for any queries related to the policy and intimation of a claim call: 1800-123-4003.
  • Avail wide network of cashless garages service.
  • No Claim Bonus is up to 50% discount
  • Specific car insurance products are designed to cater to the different needs of policyholders.
What is not Covered?
  • Accidental damages while driving under the influence of alcohol or intoxicating drugs.
  • Accidental damages during war or similar conditions
  • Any claims against an incident when your insurance policy was not active.
Key Points:-
  • Claim Settlement Ratio: 74.3%
  • Cashless Garages: 8500+
  • Solvency ratio: 2.08
  • Branches: 157+
  • Claims Settled: 85.67%.
Get a Quote

How do you get the Best Car Insurance Rates?

  • Firstly, it’s important to work out exactly what you want from your car insurance by deciding on the level of cover.
  • Shop around and compare your options from the insurers willing to cover you and your car.
  • Price will likely be a big factor for you but it shouldn’t be the only detail you look at.
  • Check out the policy benefits as well as the price. Keep in mind that the cheapest policies don’t always work out to be best when something goes wrong.
  • Continue to build your no claims bonus to keep your premium low.
  • You may also want to consider multi-car insurance if you own more than one car, which could see a discount added to your premium.

Tips for how to get the Best Car Insurance:

  • Shop around to find the best deal
  • Don’t ignore regional companies
  • Remember to look for discounts
  • Consider factors besides price.

Top 10 Alternatives & Competitors of Cholamandalam MS Car Insurance:

Explore other competing options and alternatives. Other important factors to consider when researching alternatives to Cholamandalam MS include price and services they provide. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Cholamandalam MS Car Insurance.

1. Digit Car Insurance

Digit offers a superior selection of coverage options, from accident forgiveness to disappearing deductibles. It also has a track record for low car insurance complaints, which helps offset rates that are usually higher than its top competitors.

What is Covered?
  • Cheaper premiums
  • Faster claim settlement
  • Top-rated company
  • Efficient customer support.
What is not Covered?
  • Any claim arising out of contractual liability;
  • Any accidental loss or damage caused when the car is used
  • Loss or damage caused to the car when driven by a person without a valid driving license or by a person other than the driver as stated in the Driver’s clause.
Key Points:-
  • Claim Settlement Ratio: 74.91%
  • Cashless Garages: 5800+
  • Solvency ratio: 2.01 
  • Branches: 100+
  • Claims Settled: 90.4%.
Get a Quote

2. Kotak Mahindra Car Insurance

The company has many optional offerings that can give you better insurance protection, making it a good choice to look at when comparison shopping.

What is Covered?
  • Customized products and services
  • High claim ratio settlement
  • Digital framework
  • Customer-centric ratio
  • Extensive range of add-ons to choose
  • Long term coverage.
What is not Covered?
  • Depreciation/consequential losses.
  • The car being used contrary to the limitations stated in your policy.
  • Mechanical/electrical breakdown.
  • Contractual liabilities.
Key Points:-
  • Claim Settlement Ratio: 74.64%
  • Cashless Garages: 1300+
  • Solvency ratio: 1.95 
  • Branches: 100+
  • Claims Settled: 2.35 Lakhs.
Get a Quote

3. Magma HDI Car Insurance

Magma HDI is worth considering as your top choice. The company offers reputable service, a wide selection of coverage and cheap car insurance rates, according to our rate estimates.

What is Covered?
  • Save time
  • Get better price
  • Easy and convenient process
  • Trained professionals at your service
What is not Covered?
  • Mechanical or Electrical breakdown and failure
  • Damage to tyres/tubes of the Car, unless damage to the vehicle in the accident with liability
  • Damage by a person driving under the influence of Liquor/Alcohol/Drugs.
Key Points:-
  • Claim Settlement Ratio: 82.35%
  • Cashless Garages: 1300+
  • Solvency ratio: 1.79
  • Branches: 200+
  • Claims Settled: 10 Lakhs.
Get a Quote

4. Reliance Car Insurance

Reliance has pretty affordable rates for motorists with many types of needs, making it a good company for various driver profiles. The company gives its policyholders a sense of empowerment with financial independence through an extensive range of affordable products and a seamless customer experience.

What is Covered?
  • Safeguard a policyholder’s interests at all cost
  • Introduce affordable insurance options accessible to all
  • Bringing best and innovative insurance products to the market
  • Ensure seamless operation with maximum priority given to a customer.
What is not Covered?
  • Normal wear-and-tear of the car parts and any mechanical or electrical breakdown is not covered
  • Loss or damage due to war or nuclear risks is also not covered in car insurance
  • The fixed amount that gets deducted at the time of the claim, known as a compulsory deductible, will not be paid by us.
Key Points:-
  • Claim Settlement Ratio: 76.89%
  • Cashless Garages: 6200+
  • Solvency ratio: 1.65
  • Branches: 139+
  • Claims Settled: 98%
Get a Quote

5. Shriram Car Insurance

Shriram as the best car insurance for customizable premiums because of its Name Your Price tool, which allows drivers to shop for coverage according to their budget.

What is Covered?
  • 24x7 Hassle-free claim process
  • Survey and assistance within a day
  • Simple claim procedure
  • Updated claim status.
What is not Covered?
  • Accidental loss or damage caused due to wilful Negligence is not covered.
  • Damage due to nuclear or radioactivity or nuclear weapons, war, and related activities.
  • Consequential loss, depreciation, wears & tears mechanical and electrical breakdown/failure, or breakages are not covered.
Key Points:-
  • Claim Settlement Ratio: 79.43%
  • Cashless Garages: 2000+
  • Solvency ratio: 3.63
  • Branches: 3850+
  • Claims Settled: 2.08 Lakhs.
Get a Quote

6. National Car Insurance

The company is one of the oldest insurance players offering multiple insurance policies to fulfill the different needs of the customers.

What is Covered?
  • 24x7 emergency assistance
  • Quick & Hassle-free Claim Assistance
  • Easy to make a claim
  • Excellent customer support.
What is not Covered?
  • Any mechanical and electrical breakdown
  • Private cars used for remuneration purpose is not covered
  • Any wear-and-tear of the car due to aging
  • Driving without a valid driving license.
Key Points:-
  • Claim Settlement Ratio: 78.55%
  • Cashless Garages: 3100+
  • Solvency ratio: 0.62
  • Branches: 373+
  • Claims Settled: 2.3 Lakhs.
Get a Quote

7. New India Assurance Car Insurance

New India Assurance General Insurance understands that car insurance is a simple and effective way to protect your car from unforeseen risks. New India Assurance Car insurance saves costs, complies with the law, and stays hassle-free with New India Assurance online car insurance policy. Having good car insurance is a necessity to protect you from financial losses that come along with road accidents.

What is Covered?
  • 24x7 claim assistance
  • The quick and hassle-free claim settlement process
  • Digital insurance process for the paperless system.
What is not Covered?
  • Wear and tear, breakdowns
  • Consequential loss
  • Loss when driving with an invalid driving license or under the influence of alcohol.
  • Loss due to war, civil war, etc.
  • Claims arising out of contractual liability.
Key Points:-
  • Claim Settlement Ratio: 78.2%
  • Cashless Garages: 3000+
  • Solvency ratio: 2.13
  • Branches: 2214+
  • Claims Settled: 3.73 Lakhs.
Get a Quote

8. United India Car Insurance

The company is one of the oldest and one of the most reliable insurance companies which understands the need for car insurance and thus offers insurance products which are designed to cater to the different section of the society.

What is Covered?
  • Quick and Easy approval of Claims Settlement
  • Easy renewal options
  • Multiple discounts
  • Convenient paperless procedure.
What is not Covered?
  • Loss in the value of the vehicle due to wear and tear depreciation.
  • Damages arising out of overusing the car’s limitations.
  • Damages arising out of war or nuclear fallout.
Key Points:-
  • Claim Settlement Ratio: 77.12%
  • Cashless Garages: 2000+
  • Solvency ratio: 1.41
  • Branches: 1900+
  • Claims Settled: 1.45 Lakhs.
Get a Quote

9. Oriental Car Insurance

The company provides great and innovative products for its customers. Oriental Car Insurance Plans have been deliberated to gratify the need for protection cover for our cherished vehicle.

What is Covered?
  • Premium Discounts
  • Cashless repair facility
  • Excellent customer service.
What is not Covered?
  • Damage by a person driving without a valid driving license
  • Mechanical or Electrical breakdown and failure
  • Damage to tyres/tubes of the Car, unless damage to the vehicle in the accident with liability
  • Damage by a person driving under the influence of Liquor/Alcohol/Drugs.
Key Points:-
  • Claim Settlement Ratio: 81.83%
  • Cashless Garages: 2000+
  • Solvency ratio: 1.40
  • Branches: 1800+
  • Claims Settled: 18 Lakhs.
Get a Quote

10. Acko Car Insurance

Acko has very competitive car insurance rates for many types of car owners, which makes it worth a look if you want cheap car insurance. It has low level of car insurance complaints are another reason to consider Acko Car Insurance.

What is Covered?
  • Incredibly low premiums
  • Stress-free claims
  • Total convenience
  • Zero paperwork
  • Instant settlement
  • 24x7 customer support.
What is not Covered?
  • Regular wear and Tear of the vehicle.
  • Damage caused by un-insured accessories.
  • Damage caused by an uninsured peril
  • Damages caused by mechanical breakdown.
Key Points:-
  • Claim Settlement Ratio: 82.35%
  • Cashless Garages: 1300+
  • Solvency ratio: 1.91
  • Branches: 200+
  • Claims Settled: 10 Lakhs.
Get a Quote

Which is the best Car Insurance Alternative for Cholamandalam MS?

Many companies offer car insurance plans. Though the basics remain the same, each company tries to innovate its plans to attract customers. But what you need from your plan may be different from what someone else wants.

So, as per your requirements, you would have to decide which plans suit you best. You can select the right plan based on the following criteria:

  • Coverage being offered
  • Availability of add-ons
  • Availability of discounts
  • The network of cashless garages
  • Premium amount.

We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Cholamandalam MS Insurance, including Digit, Reliance, and Kotak Mahindra, etc. The below Car Insurance Companies are listed based on the High Claim Settlement ratio because the higher the ratio, the more reliable the insurer is.

Conclusion:

The decision of selecting the best car insurance plan for you is not an easy one. There are many factors to consider, and it will depend on your specific needs. We evaluated insurance companies based on their financial strength, discounts, technology, and customer experience.

In this article, you learned what Cholamandalam car insurance covers and their alternatives, the types of coverage most companies offer, and what can raise or lower your monthly premium. We also include a step-by-step guide on buying car insurance and explain why car insurance is worth your money.

If you are looking for a plan that has a low monthly premium and more coverage or benefits choose any one of the above companies they differ in some parts only. So, before deciding on the best car insurance company check all the features and benefits.

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