CHOLAMANDLAM MS PACKAGE POLICIES

Package Insurance Policies combines multiple insurance products as sections and covers in one insurance. There are separate Package Insurance Policies for Offices, Shops and Enterprises. 

• Comprehensive- Convenient- One Stop Insurance Solution
• Underinsurance due to oversight is covered up to 15% in Fire Section

**Fire cover for building structure is optional for those owning the dwelling unit.

Perils covered in “Fire” section above is same as described in Fire Section earlier

Note:- Three Options (Option A, B and C)  are provided in each product with varying covers provided as a package in each. Customer can choose any of the Options. 

Loss of money relating to business/profession:-

• In Transit:- While in transit between insured’s premises & bank/ATM only
• In Safe:- Burglary/housebreaking from locked safe/steel cupboards/cashbox in premises
• In cash counter:- Whilst lying in cashier’s drawer in the insured premises during business hours following assault/violence/threat- not given in the rater
• Loss of money from premises (in safe & in cash counter) is only if there is a theft of money following forcible entry or exit from premises or a threat of violence
• Only money carried by employees covered (contract employees/ group company employees not covered unless declared & agreed to specifically)

• This Policy cover loss or damage to portable electronic equipments such as Laptop against fire, riot/strike, burglary/Robbery, accident or any misfortune occurring anywhere within the geographical limits specified in the Policy.
• Geographical limit: Within India.

• It covers losses following unforeseen sudden physical damage by electrical or mechanical breakdown to the insured’s electrical or mechanical appliances, apparatus, gadgets or any other electrical or mechanical installation Eg. Air- conditioners, Xerox machines etc.
• Breakdown covered includes the actual break- down or burning out of  or the failure of any part of the appliances specified
• Breakdown should occur during normal use & cause stoppage of functions & necessitate the repair or replacement of such parts before normal working can commence
• Details of all assets to be covered for Machinery Breakdown Cover must be declared
• Sum Insured declared must be the new replacement value of the asset insured including freight, dues and custom duties if any and erection costs

Electronic items like computers, servers, fax machines etc. are used at specific premises. Some like laptops are used in premises as well as outside. Such equipments are exposed to various risks both in premises and laptops also outside the premises. The "Electronic Equipment” cover is a comprehensive one that compensates for financial loss caused due to theft, burglary, fire, natural calamities, accidental damage, mechanical/ electrical breakdown etc. to the covered equipment. Details of all electronic equipment to be covered must be declared. Sum insured to be declared must be the new replacement value of asset insured including freight, dues and custom duties if any and erection costs

Losses following accidental damage to the glass that is completely and securely fixed in the insured premises s covered. Such a glass could be fixed in building, windows or doors. The damage can happen due to various causes like accidental damage, riots, strike, malicious damages, fire, earthquake, burglary etc. 

• Loss or damage due to:-
  • Accidental External Means
  • Fire, lightning, external explosion or theft
  • Riot, strike, malicious act
  • Flood, inundation, storm, tempest, typhoon, hurricane, tornado, cyclone

However, losses due to mechanical/ electrical breakdown, fusing or burning out of bulbs/ tubes, short circuiting, overheating, wear and tear or damages due to rain, sun, hail flood, bad weather etc. are not covered.

This product is underwritten by ‘Cholamandalam MS General Insurance Company Limited. For more details on risk factors, terms and conditions, please read sales brochure carefully before concluding a sale. The product offered will be subject to Company’s underwriting and acceptance. Tax benefits under the policy are subject to prevailing tax laws. Tax laws and the benefits arising there under are subject to change. The policyholder is advised to seek an opinion of tax advisor in relation to the tax benefits applicable. All premiums are subject to applicable taxes, cesses & levies which will entirely be borne by the policyholder along with the payment of premium. For more details on benefits, premiums, exclusions, claims, cancellation or complaints, please contact ‘Cholamandalam MS General Insurance Company Limited at the toll free no. 1800-208-9100 (For other than Motor) and 1800-208-5544 (For Motor) or write to customer.services@cholams.murugappa.com or nearest branch office. This information is given by IndusInd Bank Ltd (IBL) whose registered office is at 2401 Gen. Thimmayya Road (Cantonment), Pune-411001, India. IndusInd Bank Ltd is a licensed Corporate Agent with license no. CA0001, CINLL65191PN1994PLC076333. IBL is a corporate agent of ‘Cholamandalam MS General Insurance Company Ltd (IRDA of India Registration no. 123, CIN:U66030TN2001PLC047977), Registered office: Dare House, 2nd Floor, No.2 N.S.C. Bose Road, Parrys, Chennai 600 001.SMS: ‘CHOLA’ to 56677, Whatsapp: 7305234433