Cholamandalam MS General Insurance Company Ltd. (Chola MS), a joint venture between the Rs. 225-billion Murugappa Group and Mitsui Sumitomo Insurance of Japan, has announced the launch of Chola Protect for Trucks with 11 add-on covers that offers total 
protection for trucks and complete peace of mind for their owners. This is the first value-added insurance product for truck owners in the country. The company has also launched India’s first emergency road-side services for trucks.
The new package product offers complete protection with unique features like 100 per cent depreciation waiver, reinstatement value in case of total loss, monetary compensation for loss of key, driving licence, registration certificate, permit, payment for road tax, registration and insurance cost. All these features ensure maximum benefit to the customers.
Speaking on the occasion, Mr. Gopalarathnam, Managing Director, Cholamandalam MS General Insurance Company Ltd., observed: “The customer wants an all-encompassing, transparent policy with an affordable premium that gives him a worry-free driving experience. Keeping this in mind, Chola has developed the product with its 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 features like reinstatement value basis (RVB) that cover with in-built 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 has launched emergency road-side services for trucks jointly with Mapfre Asistencia. CARE 24X7 (Chola Assistance for Roadside Emergencies) offers 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, etc.
Chola MS customers can call the 24X7 call centre using the toll free numbers 1800-1035354 / 1800-2095354 to avail CARE service across all national highways in the country.
Chola Protect – Trucks will be available at an affordable premium through 6,000 agents, new and used vehicle dealers and also through the direct salesforce of Chola MS at 92 branches spread all over the country.