Universal Sompo Motor Insurance: Check & Compare Online

Updated: 29-08-2023 07:30:49 AM

A motor insurance policy is mandatory in India, if you own a vehicle,  just like the driving license. Universal Sompo Motor Insurance provides a variety of insurance policies to choose from. Whether you own a car, a two wheeler or a goods or passenger carrying vehicle, there is a fit plan for everyone.

Types of Universal Sompo Motor Insurance

There are 6 types of insurance plans offered under this policy.

Motor Private Car Insurance: This car insurance policy covers vehicles used for domestic, social as well as pleasure and professional purpose. Some of its features are:

• Third party liability and loss or damage to the vehicle covered along with personal accident coverage
• No Claim Bonus for a claim free previous year
• Discount for vehicles installed with anti-theft devices

Motor Two-Wheeler Insurance: It’s just like a car insurance policy. The only difference is that it is meant for motorised two wheeler vehicles like bikes and scooters. Some of its features are:

• Coverage against third party liability, damage to the insured vehicle and personal accident (owner-driver)
• Comes with a long list of add-ons to choose from like Nil Depreciation, Return to Invoice, Hospital Daily Cash, etc.
• No Claim Bonus discount available

Motor Passenger Carrying Vehicles Insurance: Motor Passenger Carrying Vehicles insurance policy covers the vehicles that are used for the carrying passengers for hire or reward, except for racing, pace making, speed testing and other such stunts. Some of the features are:

• Covers vehicles against loss or damage to the vehicle and third party liability along with compulsory personal accident cover
• Discount on premium for vehicles especially designed for differently abled people

Motor Goods Carrying Vehicles Insurance: This policy covers the vehicles used for the carrying goods by the insured or insured’s employees except for racing, speed testing, reliability trial, etc. Some of the features are:

• Provides personal accident cover, third party liability cover and coverage against loss or damage to the insured vehicle
• Has 3 add-ons viz. loss of accessories cover, coverage against legal liability to paid driver or labour and personal accident cover to the occupants of the vehicle

Motor Miscellaneous Vehicles Insurance: Motor vehicles used for special purpose of the insured or to fulfil such purposes of the insured by their employees are covered under this policy. Some of the features are:

• Provides coverage against loss or damage to the vehicle, liability to third party, towing immobile vehicle and personal accident of the owner-driver
• Discount on premium when opted for restricted area of usage
• Riders available to enhance coverage including loss of accessories, personal accident to occupants and legal liability towards paid labour (driver, cleaner, etc.)

Two Wheeler Long-Term Package Policy Insurance: Here the insurance is provided to the two wheeler for either 2 years or 3 years. Some of the features are:

• No hassle of yearly renewal
• Additional discount on own damage premium
• Protection from premium hike for third party coverage

What all Universal Sompo Motor Insurance Covers?

Coverage provided by Universal Sompo Motor Insurance is:

Third Party Liability: If the insured vehicle damages the property of any other person or causes bodily injuries, then the compensation to third party will be paid by the insurance company.

Loss or Damage to the Vehicle: If the insured vehicle suffers damage due to man-made or natural reasons like theft, burglary, house-breaking, fire, earthquake, flood, etc. the insurance company shall pay the damages.

Accident of the Owner-Driver: This section covers any injuries that may have been caused to the policyholder while driving, mounting or dismounting the vehicle.

Add-On Covers (Riders)

In addition to the above-stated coverage, there are some riders available with Universal Sompo Motor Insurance that can be bought for enhanced protection. These can be bought for extra premium:

Nil Depreciation Cover: While calculating the claim amount, the depreciation cost will not be charged and the payment shall be made in full. Although there are 3 different plans to be chosen from where no depreciation is charged, 75% depreciation is waived off and 50% is waived off.

Personal accident cover of owner-driver: The comprehensive policies provide personal accident cover of up to Rs. 15 lakh. This is not applicable for company-owned vehicles.

Engine Protector: Indemnifies cost of repair or replacement of engine parts and gear box parts due to water ingression, oil leakage, etc. along with external accidental reasons.

Daily Cash Allowance: If the vehicle is in repair or is lost, daily cash will be provided for conveyance for a period of 5 days and 10 days, respectively.

Loss of Driving License or Registration Certificate (RC): Compensation of Rs. 500 to obtain duplicate driving license or RC.

Key Replacement:  If the key to the vehicle gets broken or lost, the repair or replacement cost is covered along with the labour cost of opening the car by the mechanic.

Roadside Assistance: If the insured vehicle breaks down due to specified reasons in the policy and thus gets immobile, assistance shall be provided by the insurance company.

Documents Required to Buy the Policy

The essential documents required to purchase any of the policies under Universal Sompo Motor Insurance are:

• Driving License copy
• Vehicle Registration Certificate (copy) needs to be submitted
• ID Proofs along with residential proofs
• Passport size photograph

Eligibility Criteria

The following conditions should be met in order to buy any of the Universal Sompo Motor Insurance policies:

• Applicant should have a valid driving license
• Applicant must be the legal owner of the vehicle
• Applicant must be above 18 years or above
• Vehicle should be having legally valid registration certificate

How to Buy Policy Online or Offline?

To buy the policy, there are two modes -Online and Offline

Online

• Visit the website of Universal Sompo and click on Products
• From the dorp down menu, choose Motor
• A pop will appear on the screen. Choose the policy you wish to purchase
• Click on the policy and go for ‘Get Quote’ button or if you wish to directly buy the plan, go for ‘Buy Now’
• Follow the prompts thus provided and the final step will be to make the payment

Offline

• Simply visit any of the nearest branch of Universal Sompo carrying all the documents related to your vehicle and your identification proofs
• Ask for the details of the policy you wish to buy
• Once satisfied with the information procured, simply fill in the proposal form and submit all the documents along with it
• Make the premium payment and the process will be complete

Claim Process for Universal Sompo Motor Insurance

In case of any eventuality, you need to file the claim. The process for which is given below:

• As soon as the policyholder meets with an accident, immediately inform the nearest office of Universal Sompo General Insurance
• If case of theft, you also need to file an FIR at the nearest police station
• Gather the documents required to support your claim and submit them to the surveyor who will visit you for inspection of the vehicle
• Post receipt of the documents, the company shall verify the same to ascertain the authenticity of the claim and the documents
• If all the documents are found to be correct, the claim amount shall be released
• If the repair is done at a network garage, the insurance company will directly pay the bills to the garage under cashless claim facility
• If the repair is not done at a network  garage, make the payment yourself which will be later reimbursed by the insurance company after a scrutiny

Documents Required for Claim Process

• Claim intimation form
• Policy document
• Brief description about the accident
• Place & contact details of the Insured Person (in case person intimating the claim is other than the insured person
• In case the vehicle is purchased under the company name, then the company’s rubber stamp and letterhead need to be submitted along with the respective documents
• Copy of road tax
• Police Report/FIR as per the situation
• Certificate stating the fitness of the owner

Time Taken to Settle Claims

As per the rules set by IRDAI, all claims are to be settled within a period of 30 days. However, it usually takes less than that and the claim amount is paid within 7-8 working days.

Exclusions under Universal Sompo Motor Insurance Policy

The general exclusions under the motor policies extended by the insurance company are given below. For these cases, the insurance company does not entertain any claim.

• Any accident that takes place outside the geographical area
• Loss caused due to a consequential incident, normal wear and tear
• Damage caused due to accident while driving without a valid driving licence
• Accident while driving under the influence of liquor or drugs
• When the vehicle is not used as per the limitation as to use defined
• When the vehicle is driven to participate in life-threatening activities

Renewal Process 

• Visit the official website of Universal Sompo and choose the policy for renewal
• Select the respective policy and click on Renewal button
• Provide Registration number, mobile no and e-mail id for the intimation of renewals
• After verifying all the information, the insured will be redirected to the payment portal
• After choosing and making the payment option, the respective policy will be renewed

Advantages of Universal Sompo Motor Insurance

• The policy offers a discount for approved anti-theft devices that are installed in the vehicle
• Offers concession for specially designed vehicles for people with visual impairment or any other physical disablement
• The insurance offers coverage for the loss of accessories on payment of extra premium
• The company offers 24*7 customer support for the policyholders to experience hassle-free services
• The company offers customer guidance through the web as well as SMS
• The insurance company offers a variety of discounts based on the terms and conditions of the insurance policy

Customer Care Details

• Contact Number: 1800 22 4030 or 1800 200 4030
• Address: Universal Sompo General Insurance Company Ltd., Plot No – EL-94,KLS Tower, TTC Industrial Area, MIDC, Mahape, Navi Mumbai 400710
• Email: contactus@universalsompo.com or contactclaims@universalsompo.com

FAQs

Q1. Where will the survey be carried out?

Surveyor generally visits the workshop where the vehicle will be kept for repair in case of not going under spot survey.

Q2. What is meant by Compulsory Excess?

The compulsory excess is the loss that the policyholder shall have to bear.

Q3. What is Total Loss?

If the aggregate cost of repair of the vehicle subject to the terms and conditions is more than 75% of the IDV of the vehicle. The total loss is the accident damage to the vehicle where the cost of repairs is more than 75% of IDV given in the policy.

Q4. Is it necessary to report to the police regarding loss?

Yes. FIR is required in the following cases:

• Injury to any third party involved in the accident
• Theft of the entire vehicle, accessories and other vehicle parts
• Any damage that is caused due to riots, terrorism, etc.

Q5. Is spot survey compulsory for accidents of commercial vehicles?

Yes. For all commercial vehicles, a spot survey is compulsory.

Q6. What is the process to pay the premium?

Universal Sompo offers three ways to pay the premium, they are:

• Direct Debit from the respective bank
• Credit Card payment
• Cheque Payment

Note that for direct debit, you need to sign a debit mandate while buying the insurance policy.