Chola MS General Insurance launches Chola Protect–Truck

The new package product with wide range of add-on covers offers complete protection

October 22, 2013 9:18 IST | India Infoline News Service
Cholamandalam MS General Insurance (Chola MS), a joint venture between Rs. 225 billion Murugappa Group and Mitsui Sumitomo Insurance of Japan, on Monday launched Chola Protect for Trucks with 11 add-on covers that offers total protection for trucks. This is the first value added insurance product for truck owners in the country. The company also launched India’s first ‘Emergency Road-Side Service’ for trucks.

The new package product with wide range of add-on covers offers complete protection with features like 100% depreciation waiver, reinstatement value in case of total loss, monetary compensation for loss of key, driving license, registration certificate, permit, payment for road tax, registration and insurance cost. All these features ensure maximum benefit to the customers.

Gopalarathnam, Managing Director, Cholamandalam MS General Insurance, said, “The customer wants an all encompassing, transparent policy with an affordable premium that gives him a worry-free driving experience. He added, “Chola has developed the product with keen focus on customer needs. It is India’s first packaged complete protection policy for trucks that offers maximum coverage and service to the customer. Some of the covers like Reinstatement Value Basis (RVB) cover with inbuilt depreciation benefit, payment for consumables, Franchise discount, No claim bonus discount protection and penalty coverages are unique to the Indian General Insurance market. This product is a radical attempt to redefine the Motor Insurance industry.”

The company also launched India’s first ‘Emergency Road-Side Services’ for trucks in tie-up with Mapfre Asistencia. CARE 24X7 (Chola Assistance for Roadside Emergencies) offer a bouquet of assistance services like towing of vehicle from the accident site, battery jumpstart, gear lever setting, brake and clutch settings minor electrical work and many more.

Chola Protect-Trucks will be available through 6,000 agents, new and used vehicle dealers and also through the direct sales force of Chola MS spread through 92 branches across the country.

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