Universal Sompo General Insurance Co. Ltd. and National Insurance Company Ltd. are two well-established players in the Indian insurance landscape, each offering a suite of car insurance products with distinct features and benefits. With this comparison, our aim is to empower readers with the knowledge needed to make an informed choice for their car insurance needs. By shedding light on the background, policies, coverage options, pricing, customer service, and more offered by these insurers, we provide a comprehensive guide that enables readers to select the car insurance provider that aligns best with their unique requirements and preferences. Whether you are a new car owner in search of your first policy or a seasoned driver looking to switch providers, this article equips you with the information necessary to make a confident decision about protecting your vehicle and your financial security on the road ahead.
In a world where uncertainties on the road are a constant companion, choosing the right car insurance can be a critical decision. In this article, we bring you a comprehensive comparison of two leading insurance providers in India – Universal Sompo and National Insurance. As you navigate the complex landscape of car insurance, we aim to simplify the process by evaluating these insurers across various dimensions, from coverage and pricing to customer service and additional benefits. Our goal is to help you make an informed choice that aligns with your specific car insurance needs, ensuring your peace of mind on every journey.
| Key Points |
Universal Sompo Car Insurance |
National Car Insurance |
| Claim Settlement Ratio |
87.96% |
78.55% |
| Cashless Garages |
4600+ |
3100+ |
| Solvency Ratio |
1.90 |
0.62 |
| Branches |
86+ |
373+ |
| Claims Settled |
1.11 lakhs |
2.3 lakhs |
*The premiums are displayed according to your details, compare the quotes, and buy the policy according to your needs and budget.*
Yearly Car Insurance Average
Universal Sompo Car Insurance
Universal Sompo General Insurance Co. Ltd. is a collaboration between two major financial institutions: Indian Bank, one of India's premier public sector banks, and Sompo Japan Insurance Inc., a leading insurance company based in Japan. Established in 2007, Universal Sompo has rapidly grown to establish a robust presence in the Indian insurance market.
The company's commitment to delivering comprehensive insurance solutions combined with its strong financial backing has made it a trusted choice for millions of policyholders across India. Universal Sompo's customer-centric approach and innovative insurance products have earned it a reputation for reliability and customer satisfaction.
| Types of Policies |
Add-ons/ Riders |
Claim Settlement Process |
- Motor private car insurance policy
- Comprehensive car insurance
- Third party car insurance.
|
- Depreciation waiver
- Return to invoice
- Loss of personal belongings
- Engine protector
- Roadside assistance cover
- Hospital daily cash
- Cost of consumables
- NCB Protector
- Tyre and Rim secure
- Loss of Driving license
- Accidental hospitalization
- Daily Cash allowance
- Secure Towing
- Key Replacement clause.
|
- Intimation
- Documentation
- Inspection
- Claim Settlement
|
Universal Sompo's commitment to customer satisfaction is reflected in its claim settlement process, which aims to minimize hassles and expedite the claims, helping policyholders get back on the road with minimal disruption. As you explore your car insurance options, Universal Sompo's history, range of coverage choices, and customer-focused approach make it a compelling choice for those seeking reliable and comprehensive insurance coverage.
*Know about Universal Sompo Car Insurance benefits and coverages in this Article*
Universal Sompo Car Insurance
National Insurance Car Insurance
National Insurance Company Limited (NIC) is one of the oldest and most preferred general insurance firms in the country. The company is one of the oldest insurance players offering multiple insurance policies to fulfill the different needs of the customers. National Insurance Company, one of the premier insurance firms in India, offers a third-party liability policy and a comprehensive car insurance policy. The company also offers customers benefits like cashless claims settlement, discounts, etc.
National Car Insurance is meant to protect private car owners against any own car damages and legal liabilities. Additionally, it also offers personal accident cover to provide financial assistance during any injuries caused due to an accident.
| Types of Policies |
Add-ons/ Riders |
Claim Settlement Process |
- Private car liability policy
- Private car package policy.
|
- Liability only cover
- Package cover
- NCB protection
- Return to Invoice value protection
- Engine Protection
- Key & lock Protection
- Consumables Protection
- Roadside Assistance.
|
- Filing the Claim
- Claim Evaluation
- Claim Settlement
|
*Know about National Car Insurance benefits and coverages in this Article*
National Car Insurance
Comparison of Universal Sompo vs. National Insurance
Two of India's most popular car insurance companies are Universal Sompo and National. Both companies have been in business for decades and provide a reputation for trustworthiness & reliability. Universal Sompo and National Insurance are both great choices when choosing an insurance plan. Both companies offer a wide variety of benefits to their customers, and differ in several ways as well! Let us look at the differences between these two plans, and see which one is better suited for your needs.
| Distinguish |
Universal Sompo Car Insurance |
National Car Insurance |
| Premium |
For 1000 cc starts at Rs. 2055 |
Up to 60% savings |
| No Claim Bonus |
Covers Up to 50% |
Up to 50% discount |
| Claim Assistance |
24x7 paperless claim assistance |
Quick & hassle-free Roadside Assistance |
| Benefits |
- Possess authentic and prestigious certifications
- Allows its policyholders to raise unlimited claims
- Provides third party as well as comprehensive plan
- Holds a strong network of more than 3,500 garages
- 24x7 emergency assistance is provided to policyholders
- A robust customer support system to resolve their queries.
|
- Coverage of Rs.2 lakh for the owner-driver in case of a permanent total disability or an accidental death on a premium of Rs.100.
- Passenger Personal Accident cover: Passenger Personal Accident cover can be availed with 100 Rs/person for a Sum Insured of Rs.2, 00,000 for each of the occupants.
- Legal liability for Paid driver: Liability cover with a premium of 50 Rs/annually for the paid-driver
- No claim Bonus covers up to 50%.
|
| Features |
- Quick claim settlement
- Instantaneous purchase
- Wide range of add-ons
- Third party liability
- Personal accident cover
- Loss due to natural calamities
- Loss due to man-made calamities.
|
- Instant car insurance renewal Hassle-free instant zero paperwork renewal
- Claim settlement Quick and hassle-free claim settlement
- Claim Assistance Service 24x7 claim assistance
- Decision on claims approval within 7 working days from the receipt of all documents.
|
| Extra Coverages |
- Universal Sompo’s car insurance policy offers a comprehensive scope of coverage. There are inbuilt coverage benefits, add-ons as well as optional extensions so that you can customize your policy as per your preference and enjoy the widest scope of coverage.
- The company has settled more than 90% of its claims successfully. This enhances Universal Sompo car insurance’s Claim Settlement Ratio and bolsters trust in the company.
- Attractive discounts are allowed by the Universal Sompo car insurance plan thereby making the premiums affordable in your pockets.
|
- National Insurance is the First Company to introduce the “Office on Wheels in India”.
- National Insurance Provides 24x7 Live Chat Support.
- Discounts are also offered for vehicles that have anti-theft or other security devices installed.
|
| Accessibility |
Online through PolicyBachat & Universal Sompo website |
Online through PolicyBachat & National website |
Conclusion:
In conclusion, the choice between Universal Sompo and National Insurance for your car insurance needs ultimately depends on your specific requirements and preferences. Both insurers have their strengths and offerings, with Universal Sompo standing out for its efficient claim settlement process, extensive cashless garage network, and customizable policies, while National Insurance boasts a legacy of reliability and a wide array of coverage options. To determine the best insurance provider for your car, consider factors such as the type of coverage you need, your budget, and your past driving history. It's advisable to carefully review the policies, compare premium rates, and assess customer feedback before making a decision. Whichever insurer you choose, prioritizing comprehensive coverage and prompt customer service will ensure you're well-prepared to navigate the uncertainties of the road ahead with confidence.