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Universal Sompo Car Insurance
Universal Sompo car insurance plans are designed for customers seeking robust insurance to cover their cars from unforeseen damages, such as a road accident. The Universal Sompo General Insurance Company provides motor insurance plans that offer comprehensive coverage along with a number of additional benefits.
About Universal Sompo General Insurance Company
Universal Sompo General Insurance Company is the result of a joint venture between Indian Bank, Karnataka Bank, Indian Overseas Bank, Dabur Investment Corporation and leading Japanese insurance company - Sompo Japan Nipponkoa Insurance Inc. The company has its headquarters in Mumbai.
With the backing of the Japanese insurance expert, three major Indian banks, as well as a major investment company, Universal Sompo General Insurance Company, is ideal for those looking for power-packed motor insurance policies. They are loaded with amazing coverage benefits that are provided efficiently and quickly.
Key Features of Universal Sompo Car Insurance
| Features | Coverage and Benefits |
| Third-Party Coverage | Yes |
| Claim Settlement Ratio | 96% |
| Personal Accident Insurance | Up to Rs. 15 Lakhs |
| Network Garages | 3,500 |
| No Claim Bonus | Yes |
| No. of Zero Dep Claims | Unlimited times (up to IDV) |
| No. of Comprehensive Claims | Unlimited |
Benefits of Universal Sompo Car Insurance
Universal Sompo car insurance has certain benefits, which are given below:
- Easy and smooth policy buying process with quick and minimal documentation
- A network of certified workshops or garages all over India with cashless claim settlements.
- Claim assistance is provided 24/7 by a team of specialized and highly trained customer support specialists
- Availability of No Claim Bonus discount with all Universal Sompo motor insurance plans
- Discount for specially designed/ modified vehicles for blind, handicapped and mentally challenged people
Types of Universal Sompo Car Insurance Policy
Universal Sompo General Insurance Company offers three major types of four-wheeler insurance plans. These are:
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Third-Party Liability Car Insurance
Under a Third Party car insurance policy, the policyholder receives compensation against any accidental damage sustained by the third party due to the insured car. These damages can be bodily injury or death and property damages of the third party.
A liability-only car policy provides compensation in full for death or injury to the third party, while for property damages, the compensation is limited to Rs. 7.5 lakh. However, any damage to the insured car is not covered under this four-wheeler policy.
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Standalone Own Damage Car Insurance
The Standalone Own Damage car policy is designed to cover own damages sustained by the insured car due to unforeseen events like a road accident, theft, fire, natural calamities, etc. This motor policy can be purchased to extend the coverage for the car in addition to a third party liability policy.
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Motor Private Car Insurance Policy
With a motor private car or comprehensive car policy, a policyholder can cover the insured car against damages arising out of events like accidents, earthquakes, fire, robbery, etc. Furthermore, this car policy also covers the insured car against third party liabilities like injury, death or property damages of the third party.
A comprehensive motor insurance policy offers a wider coverage that can be further extended by purchasing add-ons on payment of an additional premium.
Universal Sompo Car Insurance Premium Calculator
By using a car insurance premium calculator, a policyholder can ascertain and compare the premium of the Universal Sompo car insurance plans before purchasing one. It helps him/her know the cost of the car policy and decide whether it fits within his/her budget or not.
Coverage Under Universal Sompo Car Insurance
- Natural Calamities: Damages due to calamities that are natural in origin, such as earthquakes, floods, etc.
- Manmade Acts: Loss or damage to the car due to manmade activities, such as riots, malicious acts, strikes, terrorist activity, etc.
- External Means: Damages to the insured car due to an accident by external means
- In-transit Damages: Damages caused while the insured car is in transit by road, rail, lift, inland, waterway, elevator or air
- Third Party Liability: Damages to the third party, and injury or death of the third party due to an accident caused by the insured car
- Fire: Loss to the insured car due to events like fire, explosion, lightning or self-ignition
- Burglary: Damages caused to the insured vehicle due to theft, burglary or housebreaking
- Wear and Tear: Damages to the insured car due to the wear and tear that occur over time
- Outside Geographical Location: Damages caused when the insured car was being used outside of the geographical limits of India
- Drunk Driving: Liabilities that occur when the driver of the insured vehicle is under the influence of intoxicants, drugs or alcohol
- Invalid Driving License: Damages caused when the insured car is driven without a valid driving license
- Commercial Use: Damages caused if a private insured car is being used for commercial purposes
- Contractual Liability: Claims arising out of any contractual liability
- Breakdown: Damages to the insured vehicle due to electrical or mechanical breakdown
- Nuclear Peril: Damages and losses caused due to nuclear fission, or civil war.
Universal Sompo Car Insurance Add-Ons
Return to Invoice Cover
Under the return to invoice add-on cover, policyholders may avail of an amount equivalent to the invoice price of the insured car in case of its total loss or theft.
Here the compensation will be equal to the invoice value along with registration cost, road tax, plus insurance premium.
Daily Cash Allowance Benefit
Under a Daily Cash Allowance benefit, a daily allowance is provided to the policyholder till the time the insured car is undergoing repairs.
A policyholder can avail this benefit only when the insured car is in the garage for more than 3 days.
Pay as You Drive Cover
Under the pay as you drive cover, a policyholder can avail discount depending on the kilometres driven by the four-wheeler.
This add-on lets policyholders select an annual driving limit based on which they receive a discount on OD premium. The insurance company will also need you to upload your car's odometer reading at the time of booking.
Damages sustained by the insured car will be covered up to the annual driving limit.
Engine Protector Cover
Engine Protector add-on cover provides compensation for repairing or replacing the engine or its parts, such as the gearbox of the insured car, in case of an unforeseen accident.
Consequential damages sustained by the insured car due to water ingression are covered under this add-on.
Depreciation Waiver Cover
A policyholder may opt to purchase a Depreciation Waiver cover that pays for the depreciation borne by the repaired or replaced items of the insured car.
It provides 100% repayment on the depreciation of the insured car and all its parts except tyres, tubes and batteries, which are covered at 50%.
Hospital Daily Cash
The Hospital Daily Cash cover provides a daily cash limit of up to Rs. 2,000 to the policyholder for a maximum of thirty days of hospitalization.
Policyholders can also include a family member in the add-on coverage by paying an extra premium.
Key Replacement Clause
The Key Replacement add-on cover compensates the policyholder in case the keys of the insured car are lost, stolen or broken.
If there is damage to the remote key due to accident, fire or water, the labour charge for repair and replacement would be covered.
Roadside Assistance Cover
The roadside assistance add-on provides coverage if the insured vehicle suffers a breakdown on the road. Some roadside services include fuel delivery, minor repairs, flat tyre support, etc.
Services under this add-on can be availed for a maximum of two times during a policy period.
Cost of Consumables
Consumables add-on cover provides compensation against the cost of replacing or refilling consumables used in the insured car.
Consumable items include engine oil, nuts, screws, etc.
Loss of Personal Belongings Clause
Under the loss of personal belongings add-on cover, the insurance company will compensate for the loss of personal belongings that were present in the insured vehicle at the time of the accident.
Belongings like baggage, mobile phones, laptops, clothes, bags, etc., are covered under this add-on.
NCB Protector Cover
As soon as a policyholder raises a claim during a policy year, the NCB received becomes null. NCB protector add-on cover allows a policyholder to
retain the No Claim Bonus discount earned even after he/she has made a claim in the policy year.
How to Renew Universal Sompo Car Insurance?
Visit the official website of Policybazaar Insurance Brokers Private Limited and follow the steps mentioned below to renew Universal Sompo car insurance online:
- Visit the official website of Policybazaar Insurance Brokers Private Limited and follow the steps mentioned below to renew Universal Sompo car insurance online:
- In the given form, enter your car number and proceed forward.
- Enter your existing motor policy expiry date and previous claim details.
- From the mentioned plans, select the Universal Sompo insurance renewal plan.
- Select additional covers and proceed with premium payment
- Verify the rest of the details on the next page
- Pay the premium for Universal Sompo car insurance renewal using bank cards, UPI or net banking
- After the payment completion, you will successfully renew the Universal Sompo motor insurance policy online. The renewal documents will be sent to your registered email address.
How to File a Claim Under Universal Sompo Car Insurance?
To file a car insurance claim with Universal Sompo General Insurance Company, follow the steps mentioned below:
1
Intimation:
The first step is to inform the insurance company about the incident so that a claim can be registered.
2
Surveyor Appointment:
A surveyor will be assigned by the insurer to assess the damages sustained by the insured vehicle.
3
Documents Verification:
Make sure to keep all the relevant documents with you for verification purposes.
4
Claim Settlement:
Once the repairs are done, the insurance company will settle the claim with the network garage.
Under a reimbursement claim, the claim amount will be reimbursed after you have got the repairs done in a non-network garage and settled the bill in full.
Documents Required to Raise a Claim Under Universal Sompo Car Insurance
The documents required to raise a claim under Universal Sompo car insurance are mentioned below:
- Duly signed claim form
- Original bills, receipts of repairs
- Copy of driving license
- Copy of registration certificate
- A copy of car insurance papers
- A copy of the Police FIR
Car Insurance for Popular Brands in India
FAQs
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Q1. How to pay the Universal Sompo car insurance premium?
Ans: You can pay Universal Sompo motor insurance premium online via Policybazaar.com using net banking, debit/credit cards and UPI. -
Q2. How can I check the policy status for Universal Sompo car insurance?
Ans: You can check the Universal Sompo car insurance policy details online or by calling the toll-free number of the insurer. If you have purchased the Universal Sompo car policy from us, you can simply log in to your Policybazaar account and check your policy details. -
Q3. What is the company’s process for settling claims for Universal Sompo car insurance?
Ans: Universal Sompo General Insurance Co. Ltd. takes 7 business days to settle claims for minor accidents. You need to submit the mandatory hospitalisation bills and reports in addition to the claims application and submit the same to the Claims Department. The claim amount will be directly debited into the bank account of the policyholder.
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Q4. Are there any discounts provided by Universal Sompo car insurance?
Ans: Yes, you can reduce the premium of your Universal Sompo motor insurance policy by opting for the following discounts:- Voluntary Deductibles
- Automobile Association Membership
- No Claim Bonus
- Installing Anti-theft Devices
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Q5. How can I get a Universal Sompo car insurance policy download?
Ans: You can download a soft copy of your Universal Sompo motor insurance policy from the insurer’s official website or from your Policybazaar account.
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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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*Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB. Actual time for transaction may vary subject to additional data requirements and operational processes.
##Claim Assurance Program: Pick-up and drop facility available in 1400+ select network garages. On-ground workshop team available in select workshops. Repair warranty on parts at the sole discretion of insurance companies. Dedicated Claims Manager. 24x7 Claim Assistance.