A comprehensive car insurance policy is highly recommended to combat unwanted situations on the road. As per the Supreme Court of India, it is mandatory to get a third party liability insurance for your vehicle as part of your car insurance. One such coherent plan is Universal Sompo Car Insurance policy that will make sure you’re stress-free on the go.
What is Universal Sompo Car Insurance Policy?
Call it a financial blanket for your automobile, Universal Sompo Car Insurance Policy is designed to safeguard against unwanted expenses that one may need to incur at times of uncalled events. These events include theft of the car, expenses arising due to accidents, any problem to the third part because of your insured car, etc.
What all Universal Sompo Car Insurance Policy Covers?
- This policy by Universal Sompo extends its coverage for loss or damage to the vehicles due to:
- uncontrolled events like fire, explosion, self-ignition, lightning, burglary, theft, riot, strike, malicious act, terrorism, earthquake, flood, typhoon, accidental external means, landslide or rockslide, road/rail/inland waterway/air transit
- Third Party Liability: Being a comprehensive plan, Universal Sompo Car Insurance covers the minimum compulsion of Third Party Liability without which you cannot legally take your car out on roads
- Personal Accident Cover is also included in this policy
Apart from the aforementioned points, one can also choose to extend the coverage of the policy by paying extra premium. This includes the following:
- Loss of car accessories
- Coverage against legal liability to paid driver or any other worker
- Coverage for personal accident to the occupants
- Increase in the capital assured in Third Party Legal Liability up to Rs. 7.5 lakh
To be able to buy this car policy, you should be 18 years old or above. Also, get the original registration book of the car. Since this is a private car insurance, no commercial car shall be entertained.
Universal Sompo Car Insurance Policy Claim Process
The claim process of Universal Sompo Car Insurance policy is no rocket science. All you need to do is adhere to the steps mentioned by Universal Sompo and your claim shall be addressed within the stipulated time.
These steps are:
- Immediately inform the insurance company about the eventuality (accident) including details like your policy number, contact numbers, date & time of accident, location of loss, extent of loss/damage, etc.
- As soon as the claim is registered, the insurance company shall arrange for a ‘Spot Survey’ to determine the damages sustained
- As soon as they get done with the survey and the documents and verified too, the claim payment will be released to the policyholder’s account
Mode of Contact:
- Via email: email@example.com
- On call: 1-800-22-4030 (from MTNL & BSNL Lines) OR +91-22-27639800
Documents Required for Claim Process
- Duly filled in and signed claim form
- Policy document (original)
- ID Proof
- Photograph of the damaged car
- Passport size photograph of the policyholder
- Copy of Driver’s License
- Copy of car’s registration certificate
- Bank account details
Cases Where You Can’t Claim Universal Sompo Car Insurance Policy (Exclusions)
Although this one is a highly inclusive motor insurance policy, there are certain cases not covered by it. These are:
- Compulsory deductible amount
- Damage to tyres and tubes
- Accident that happened outside the decided geographical area
- Loss due to depreciation of the car/ normal wear and tear
- Accident occurred while driving under the influence of alcohol or drugs or similar stuff
- Accidents occurred while driving without the valid driver’s license
- Rash driving or intentional indulgence in rough activities
Add-On Covers under Universal Sompo Car Insurance Policy
Apart from the regular coverage, This car insurance policy offers add-on coverage which is additional benefits. These can be availed on payment of little extra amount.
- Daily Cash Allowance
- Accidental Hospitalization Clause for Family
- Key Replacement
- Road Side Assistance
- Cost of Consumables
- Secure Towing (Higher Towing and Removal Costs)
- Hydrostatic Lock Cover
- Engine Protector
- NCB Protector, etc.
Insured Declared Value (IDV)
IDV is the maximum sum assured determined agreed upon between the policy provider and the policyholder. This amount is usually equal to the current market price of the vehicle. This amount depends on factors like brand of the car, type of the car, etc.
For further details on calculation of IDV, refer the table below:
|Age of the Vehicle||Depreciation % for determining IDV|
|<= 6 months||5%|
|Less than 1 year||15%|
|Less than 2 years||20%|
|Less than 3 years||30%|
|Less than 4 years||40%|
|Less than 5 years||50%|
Renewal process of this car insurance by Universal Sompo is as easy as it gets. You can get the policy renewed either online or offline.
- Provide your existing policy details on the dedicated renewal portal available at the official website of Universal Sompo
- As you submit the stated details, you’ll get the renewed policy quote instantly
- Pay the renewal premium via internet banking, debit/credit card, etc.
- Get a printout of the receipt and the policy document for your perusal
- For this mode, you need to visit any of the branches of Universal Sompo and submit all the documents in hard copy along with the renewal form and pay for the premium amount of renewal there itself.
Universal Sompo Cashless Garages
When you get enrolled in Universal Sompo private car insurance, you automatically get access to their cashless garages across the country for all your repairs. Instead of going through the cumbersome process of reimbursement involving submission of documents and waiting for the payment to be released, what you can opt for is getting your car mechanized in one of the cashless garages of Universal Sompo.
Apart from all the information stated above, there are certain aspects that must be taken care of while buying the plan and post that too. These are:
- Once the vehicle has met with an accident and claim is registered, it is advised not to use the car in any manner. If there is any further damage to the car, the insurance company shall not cover the same.
- To avail the cover, make sure the following points are well-taken care of :
- the owner-driver is the registered owner of the vehicle insured herein;
- the owner-driver is the insured named in this policy
- the owner-driver holds a valid driving license
- No-claim bonus is provided for every year gone by without the policyholder making a claim
Advantages of Buying Universal Sompo Car Insurance Policy
There are many reasons why one should go for the car insurance apart from the legal compulsion. Just like wearing a helmet or buckling the seat-belt is more than a traffic rule, having a car insurance is not merely a financial cover. It gives the person mental peace as well.
- You can opt for extensions like loss of accessories, legal liability to the paid driver, personal accident cover for the occupants of the car, etc.
- If you opt for higher voluntary excess, or have approved anti-theft device installed in your car, you will be awarded with discount in your Universal Sompo Car Insurance policy
- There is special discount if the car is modified or designed ergonomically for the differently abled
Q1. What documents should I carry always while driving my car?
You should always carry your valid DL (Driver’s License), insurance copy, your car’s PUC (Pollution Under Control) certificate along with your car’s RC (Registration Certificate).
Q2. What if I lose my policy document? Will I get a duplicate one?
Yes, you certainly can get a duplicate copy of your Universal Sompo Car Insurance policy. Just visit the nearest branch of the company along with a writer letter regarding the same and you shall receive the duplicate copy in no time.