Universal Sompo Car Insurance Price List in India

Universal Sompo General Insurance Company Limited is a joint venture of two nationalized banks Indian Overseas Bank and Allahabad Bank, a private sector bank Karnataka Bank, FMCG Corp Dabur Investment Group, and a leading General Insurance Company from Japan Sompo Nipponkoa Insurance Inc. formed as a General Insurance Company in partnership with the public sector, headquartered in Mumbai. Universal Sompo is the first public-private General Insurance Corporation. The cost of Universal Sompo car insurance varies depending on the type of policy that you choose to buy...Read More

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Universal Sompo Car Insurance Online

Universal Sompo Car Insurance is a comprehensive car insurance package offered by Universal Sompo General Insurance Company Limited. The insurer offers private as well as commercial insurance under its four-wheeler banner. The private car package covers loss arising out of manmade and natural calamities, legal liability to third party personal injury and property damage and compulsory Personal Accident cover for owner drivers. You can also avail a discount for opting higher voluntary excess.

A car insurance policy offers aid to the car owner if he/she meets with an accident that causes damage to the car. Universal Sompo car insurance plans not only cover damages but also have a compulsory personal accident cover.

Why Buy Universal Sompo Car Insurance?

Get a Universal Sompo car insurance policy online instantly without any documentation process, also, get a Universal Sompo car insurance renewal plan instantly online with 2 easy steps.

General insurance policy copy downloads or get assistance through Universal Sompo customer care toll-free number.

Key features Benefits
Third party cover Covered up to Rs. 7.5 lakhs
Cashless network garages Cashless network garages 3500+
Claim settlement ratio 89.94%
Add-on covers
  • Depreciation
  • Invoice cover
  • Daily allowances
  • Roadside assistance
Features
  • Quick claim settlement
  • Instantaneous purchase
  • Wide range of add-ons
Coverage’s
  • Third party liability
  • Personal accident cover
  • Loss due to man-made calamities
  • Loss due to natural calamities
Discounts
  • No claim bonus
  • Voluntary deductible
  • Anti-theft device.

Why Buy Universal Sompo Car Insurance

What is covered in Universal Sompo Car Insurance Policy?

  • Loss or damage caused due to fire, explosion & self-ignition.
  • Loss or damage due to natural calamities such as floods, storms, landslides, earthquakes, rockslides, hurricanes, lightning.
  • Loss due to theft, robbery, and other manmade calamities such as strike, riots, terrorist activities, accidental external damage.
  • Damage caused due to travel by road, air, elevator, inland waterway.
  • Third-party liability in cases of injury, death or damage
  • Personal accident cover.

What is covered in Universal Sompo Car Insurance Policy

Exclusions of Universal Sompo car insurance policy:

  • Drunk & Drive: Driving a vehicle under the influence of alcohol is an offense by a court of law and accidents made under influence of alcohol cannot be claimed.
  • Planned accident: Staged accidents are offenses, organized accidents to get the claim form is void. In staged accidents, your entire policy will lapse.
  • Commercial use: If the policy is registered for personal use and the actual activity of the vehicle is for commercial use. Improper disclosure of vehicle, use will void the Bajaj Allianz car insurance policy.
  • Valid license: If a person driving a vehicle without any valid license will lapse your entire policy and a policyholder cannot claim service compensation for damage caused by wrong side driving.
  • Normal Wear and tear and general ageing of the vehicle.
  • Depreciation or any consequential loss.
  • Mechanical/ Electrical breakdown.
  • Vehicle being used otherwise then in accordance with limitations of use.
  • Damage to or by a person driving the vehicle without a valid license, under the influence of drugs or liquor.
  • Damage due to war, mutiny or nuclear risk.

Add-ons under Universal Sompo Car Insurance:

The following are the add-ons available under Universal Sompo-

Daily allowance: A daily cash allowance will be offered to the policyholder in case of an accident, fire or unfortunate event. Allowance will be provided to cover the cost of transportation when the vehicle is undergoing repairs at an empanelled network garage.

No depreciation: The insurance company will take the burden of the cost of depreciation of the vehicle. Therefore, there will be no loss incurred due to the depreciation of the car parts over the course of time.

Roadside assistance: In case of a sudden breakdown or an accident, emergency assistance services will be provided at the spot of the accident. The services provided include towing assistance, on-spot repair, tyre change, fuel delivery, key replacement, cab and accommodation services.

Invoice cover: This will cover the difference in amount between the sum assured and the actual invoice price of the vehicle. This is not applicable to obsolete models and car parts that are not insured will not be covered under this option.

Key protect: In case the key of the vehicle in question is lost or damaged, this add-on will cover the cost of repair and replacement. This also includes the lock set of the car.

Consumables cover: This add-on offers protection to consumables parts in the car such as tyres, gaskets, sealants, filters, battery alter, bearings, ac gas, clips, oils, lubricants, grease, coolants, washers, grease, nuts, bolts, etc.

Towing facility: Towing services can be availed to the nearest network accident from the spot of the accident, fire, theft, etc. To seek this service, the policyholder needs to seek approval from the insurance provider.

Engine protect: In case any damage is caused to the engine and its parts due to water seepage or leakage of lubricating oil, the cost of repair and replacement will be covered under this option.

NCB protect: Even if more than 2 claims are made during the tenure of the policy, the no claim bonus discount will remain protected under this cover option.

Types of Car Insurance Policies:

Broadly, auto insurance policy is divided into 2 types for unpredicted damage loss

1.) Third-party insurance:

One of the most popular words known to many people owning a vehicle is Third party insurance cover. Also known as TP Insurance is a type of insurance that is mandatory to have for each vehicle owner.

Before the introduction of compulsory third-party insurance in India, the victims of motor vehicle accidents were dependent on the mercy or claim to pay capacity of the first parties.

As per the motor vehicle act, Third Party insurance is also known as Act-only or Liability-only insurance and can be given on a Standalone basis. The first party in Motor insurance is the Insured person (Customer) and the second party is the Insurer (Insurance Company). According to the Motor vehicles act, it is compulsory for every vehicle plying on public roads to have Third party insurance.

Coverage:

Third party insurance cover has the following benefits:

  • Third Party Injuries
  • Third Party Death
  • Third party property
  • Personal Accident Cover
Exclusions:

There are certain exclusions in the Third party policy which are listed below.

  • Damage to your car
  • Violating rules while driving
  • Driving without a valid insurance policy

Damage caused to the third party in case of the accident made by the policyholder and also third-party property damage is claimed.

IRDA (Insurance Regulatory Authority of India) has made a recent update in the premium for third-party insurance.

Cubic capacity Premium
1000cc Rs.2,055
1,000cc -1,500cc Rs.3,132
1,500cc Rs.8,630

Note: The maximum limit of compensation is up to 7.5 Lakhs. The amount of compensation is determined by a court of law.

2.) Comprehensive Car Insurance Policy:

Get claim assistance in case of damage to your vehicle in case of

  • Accident,
  • Theft,
  • Vandalism,
  • Floods,
  • Fire,
  • Damage caused by animals, and
  • Other natural disasters except for damage due to a collision.

A comprehensive car insurance policy is claimed by the calculating value of the vehicle after deducting depreciation. A comprehensive plan protects your car from various situations other than the third party liability coverage, some of which are mentioned below:

  • Theft incidents
  • Damage caused by natural calamities
  • Accidental Damages
  • Costs of transportation.

How to Compare the Best Car Insurance Quotes?

Comparing car insurance quotes from distinct carriers is a daunting process. PolicyBachat.com made your work easy by showing a comparison of genuine websites. Comparison of insurance online leads to cost efficiency due to low operating costs to maintain online.

PolicyBachat helps to calculate the pros and cons of the policy and buy the desired policy. PolicyBachat gives you the distinction between the carrier backgrounds, claim settlement ratio, network garages to configure the right insurance policy.

Get the top carrier quotes to distinguish the best insurance plan in terms of premium, coverage, and holding experience in the insurance sector. At Policybachat, a user can buy/renew a car insurance policy by simple easy steps instantly.

Buy Universal Sompo Car Insurance Policy Online:

  1. Get onto the Universal Sompo website.
  2. Create an account on the website.
  3. Log onto your account using your credentials.
  4. Browse through different car insurance policies and riders.
  5. Select the policy and riders that best suit your needs.
  6. Fill in the form and initiate payment through credit card, debit card or net banking.
  7. The car insurance policy is sent on the go to the email ID you have shared.

Universal Sompo Car Insurance Claim Process:

For hassle-free claims with cheap car insurance premiums get your policy online on Universal Sompo. An online insurance policy is helpful to get a discount on your motor insurance, the policyholder will get the insurance policy soft copy to their mail immediately.

To file a car insurance claim with Universal Sompo General Insurance Company, you can follow the steps mentioned below:

  • Intimation
  • Surveyor appointment
  • Documents verification
  • Claim settlement.
Cashless Claim Process:
  • Inform the insurance provider
  • Get the car towed from the spot of the accident to the nearest network garage
  • Services will be provided at the concerned network garage and payment will made by the insurance company to the concerned garage.
Reimbursement Claim Process:
  • Keep all bills and invoices ready
  • Fill in the duly signed claim form
  • Inform the insurance provider and submit the form along with the required documents
  • The claim should be processed within 7 working days.

Universal Sompo Car Insurance Claim Process

Documents Required:

a) In case of Car Accident Claims:
  • Immediately contact Reliance Motor Insurance on their toll-free number 1800 3009
  • Lodge a claim with duly signed Claim Form
  • Copy of Driving License, RC book, Policy document
  • FIR, if required (Kindly note down, contact details of people and vehicle number involved in accident)
  • Original Repair Estimate Bill
  • In case of cashless service, only Invoice receipt
  • In case of reimbursement provide estimate bill, original invoice and payment receipt
b) In case of Car Theft Claims:
  • Immediately contact Reliance Motor Insurance on their toll-free number 1800 3009
  • Lodge the claim with duly signed claim form
  • Original keys with Copy of Driving License, RC book, Policy document
  • Police FIR copy
  • Duly signed Form 28, 29, 30 and Form 35.
  • Final confirmation with “No Trace Report” of the insured vehicle from the police
c) In case of Third Party Claims:
  • Immediately contact Reliance Motor Insurance on their toll-free number 1800 3009
  • Lodge the claim with duly signed claim form
  • Police FIR copy
  • Copy of Driving License, Policy and vehicle’s RC book.

Universal Sompo Car Insurance Premium Calculator:

Car insurance premium calculator helps you to calculate the insurance premium to be paid. Every insurance company has a varying means of calculating it. To calculate the car insurance, there are various factors to be taken into consideration such as:

  • The model of the car and the variant
  • Year of manufacture
  • Type of fuel
  • No claim bonus
  • Discounts
  • Voluntary access.

Universal Sompo Car Insurance Premium Calculator

How to Calculate Car Insurance Premium?

So why do we pay car insurance premium? Well, because it reduces our propensity for risk and loss, to a certain extent. Following are the variables necessary to calculate car insurance premium:

  • IDV
  • Age of the car
  • Details about the car
  • Engine size.

Steps to Renew Universal Sompo Car Insurance:

Car insurance can be purchased online from the PolicyBachat portal in two easy steps. At PolicyBachat we cater unbiased comparison of quotes, 24*7 customer assistance team your motive is to give our customers the right quotes with compare car insurance rates online.

You have the option to purchase this cover via the online mode or the offline mode while buying or renewing your car insurance policy. You can buy a Cover by following the below mentioned steps.

  • Go to compare car insurance quotes online at PolicyBachat
  • Fill in the required details select your Car Model & Variant, RTO Location, Registration date, and Email address.
  • Click on the “START SAVING MONEY”.
  • Choose a Comprehensive Insurance plan.
  • Premiums with different insurance companies are displayed with low premiums.
  • Select the Add-on Cover from the available Add-ons if need.
  • After that fill in the ‘vehicle owner details and personal details.
  • Purchase best Car Insurance Policy using online payment
  • If any queries are raised call: 1800–123–4003.

Need Help? Call PolicyBachat at 1800-123-4003 and our insurance specialist will be there to assist you.

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