CHOLA MS GENERAL INSURANCE

POLICY ADD-ON WORDINGS

Add-on covers for Private Car - Brand New and Used Vehicles

WAIVER OF DEPRECIATION

In consideration of payment of additional premium for this benefit, the comp any
will indemnif y the insured against loss or damage to the parts subject to a
deduction of depreciation at the rates mentioned below in respect of parts
replaced.

Subject to a deduction for depreciation at the rates (%s) mentioned below in respect
of parts replaced

Option 1
Sl. Present Percentage (100%
Content
No. (%) Waiver of
Depreciation)
For all rubber/ nylon / plastic parts, tyres and
1 tubes, batteries and air bags 50.00 Nil
2 For fibre glass components 30.00 Nil
3 All parts made of glass Nil Nil
Rate of depreciation for all other parts including wooden parts will be as per the following
Schedule
AGE OF VEHICLE % OF DEPRECIATION
Not exceeding 6 months Nil Nil
Exceeding 6 months but not exceeding 1 year 5.00 Nil
Exceeding 1 year but not exceeding 2 years 10.00 Nil
Exceeding 2 years but not exceeding 3 years 15.00 Nil
4 Exceeding 3 years but not exceeding 4 years 25.00 Nil
Exceeding 4 years but not exceeding 5 years 35.00 Nil
Not
Exceeding 5 year but not exceeding 10 years 40.00 Applicable
Not
Exceeding 10 years 50.00 Applicable

Subject otherwise to the terms, e xceptions, condition s and limitations of the

policy.
Hydrostatic Lock Plus Cover:
In consideration of payment of additional premium, insured will be reimbursed
the cost incurred to repair or replace parts of engine o r gear box or differential
assembly includ ing packing kit & under body damage due to ingress of water
into the vehicle covered under this policy o r due to leakage of lubrication or
loss o r damage to engine cooling s ystem. This cover is subject to the follo wing
terms and cond itions:

1. Cla im due to water damage cove r is payable only if there is an evidenc e of

the insured vehicle being submerged or having stopped in water lo gged area.

2. Cla im has to be intimated to the insurance company immediately.

3. All reasonable precautions are taken to protect the vehicle to avoid

aggra vation of damages / loss.

4. The replacement value which is the cost of a new engine or gear bo x or

differential assembly shall be subject to depreciation based on age of the
vehicle as per policy terms.

Specific exclusions

Insurance company is not liable f or payment of any claims of the following

nature:

1. Cost of Lubricating oils or coolant used in the assembly.

2. Losses or damages covered under Manufacturer warranty or recall campaign.

3. Increase in loss or damage including corrosion due to delay in intimatio n of

claim beyond se ven (7) da ys from date of loss.

4. An y claims related to loss or damage due to normal wear and tear.

This cover is subject otherwise to the terms, exce ptions, conditions and
limitations of the policy.

Vehicle Replacement Advantage Cover:

In consideration of payment of additional premium for this cove r, it is hereby
agreed that the insured vehicle and the declared accessories a re insured for
the value of new replacement cost with all applicable taxes and charges paid
for the insured vehicle on the date of total loss includ ing registration charges
incurred for the vehicle, Road Tax and total insurance c ost of this policy availed
with us and in force on the date of accident. This cover is subject to the
following terms and conditions:

1. Benefit under this cover is available only in the event of total loss of the
vehicle due to an accident, theft or Construct ive Total Loss (CTL) as defined in
the policy.

2. It is not mandatory to replace the vehicle.

3. No imposed e xcess is applicable for this co ver.

4. Compensation payable under this cover will be the total cost incu rred
towards insurance of this policy a vailed with us and in force on the date of
accident, road tax and re gistration cost incurred with the transport authorities
for the insured vehicle and the Sho w-room value of brand new vehicle with all
applicable taxes and charges of same make, model and variant with iden tical
features and specifications on the date of loss. If identical vehicle is not
available for sale, then the last available E x-Showroo m price of the insured
vehicle with all applicable taxes and charges will be paid along-with registra tion
charges, Road Tax paid f or the insured vehic le and total insuran ce cost of this
policy availed with us and is in force on the date of accident.

5. Company is not liable f or any other financial dues of the insured in respect of
the vehicle cove red.

6. This benefit is available for the vehicles upto 6 years of age.

7. No depreciat ion will be applied to assess the loss in the event of Total Loss
(TL) or Constructive Total Loss (CTL).

8. Any disbursement under this co ver will be full and final settlement of our
liability under the Motor Insurance Policy and The Motor Insuran ce policy shall
expire on settlement of the claim under this co ver.

For the purpose of this Add-on cover, Total Insuranc e Cost will include the
Premium paid towards Own Damage Cover, Third Party Liability, Add-on Cover
premium and Service Tax paid for the Motor P rivate Ca r Package policy ava iled
with u s and is in force on the date of accident.

This cover is subject otherwise to the terms, exce ptions, conditions and
limitations of the policy.
Loss of Key Cover:
In consideration of payment of additional premium, insured will be reimbursed
the actual cost incurred towards repair / replacement of the keys and / or new
lock set and / o r Total replacement of lock mechanism due to theft or burglary
or damage to keys and key mechanism of the in sured veh icle inclu ding
installation cost of the same.

This is subject to submission of:

a) Original First Information Report (FIR) with the Policy Authorities for
verification in case of burglary or theft.

b) O riginal bills for expenses incurred to obtain duplicate key(s) from

manufacturer/authorized dealer of manufacturer for material and labour cost s.

The Sum Insured for this cover will be equal to the replacement cost of the keys
and / or new lock set and / or Total replacement of lock mechanism.

This cover is subject to the terms, conditions, exceptions and limitations of the
policy.

Consumables Plus Cover:

In consideration of payment of additional premium, the company he reby
undertakes to reimburse cost of consumable items actually consumed and
utilized for repairing the accidental damages / losse s i.e. tho se articles or
substances which have specific uses and when applied to their re spective uses
are e ither consumed totally or are rendered unfit for continuous and permanent
use. Such Con sumable Items will include nuts and bolts, screw, oil filter, fuel
filter, bearings, washers, clips, wheel balancing weights, grease, wheel
bearin gs, distilled water, engine oil, gear-box oil, power steering oil, AC gas oil,
air conditioner refrigerant, battery electrolyte, wind-shield washer fluid, rad iator
coolant, oil filter, fuel filter, air filter element, brake oil , coolant and items of
similar nature.

Consideration of this benefit is sub ject to subsistence of a valid Own Damage

claim under Section -1 (O wn Damage Section ) of the policy.

Specific exclusions:

Insurance Company is not liable f or payment of any claims of the follo wing
nature:

1. Losses or damages covered under Manufacturer warranty or recall campaign

2. An y claims related to loss or damage due to normal wear and tear.

This cover is subject otherwise to the terms, exce ptions, conditions and
limitations of the policy.

Add-on cover for Goods carrying Commercial Vehicle, Passenger

Carrying Commercial Vehicles (PCCV) upto 6 and PCCV more
than 6:
Waiver of reduction in Depreciation for Partial Loss Claims
In consideration of payment of additional premium for this benefit, the company will indemnify
the insured against loss or damage to the parts subject to a deduction of depreciation at the
rates mentioned below in respect of parts replaced.

Subject to a deduction for depreciation at the rates (%s) mentioned below in respect
of parts replaced

Option 1
Sl. Present Percentage (100%
Content
No. (%) Waiver of
Depreciation)
For all rubber/ nylon / plastic parts, tyres and
1 tubes, batteries and air bags 50.00 Nil
2 For fibre glass components 30.00 Nil
3 All parts made of glass Nil Nil
Rate of depreciation for all other parts including wooden parts will be as per the following
Schedule
AGE OF VEHICLE % OF DEPRECIATION
Not exceeding 6 months Nil Nil
Exceeding 6 months but not exceeding 1 year 5.00 Nil
Exceeding 1 year but not exceeding 2 years 10.00 Nil
Exceeding 2 years but not exceeding 3 years 15.00 Nil
4 Exceeding 3 years but not exceeding 4 years 25.00 Nil
Exceeding 4 years but not exceeding 5 years 35.00 Nil
Not
Exceeding 5 year but not exceeding 10 years 40.00 Applicable
Not
Exceeding 10 years 50.00 Applicable

Maximum of First two Claims is payable in a policy period.

Subject otherwise to the terms, exceptions, conditions and limitations of the policy.
Add-on Cover for Miscellaneous and special type of Vehicles

Full Depreciation Waiver Cover

In consideration of payment of additional premium for this cover, the company will reimburse
the total cost of parts replaced due to an accident or loss to insured vehicle without any
deduction towards depreciation subject to the following terms.

1. Claim being admitted under Section -1 (Loss of or damage to the insured vehicle)

2. The aggregate cost of repairs in case of Total loss / Constructive Total loss claims would be
subject to the benefit available under this cover.

3. Maximum of First two Claims is payable in a policy period.

This cover is subject otherwise to the terms, exceptions, conditions and limitations of the
policy.