Universal Sompo Vehicle Insurance
Universal Sompo General Insurance Company Limited is a joint venture between Indian banks – Allahabad Bank, Karnataka Banka and Indian Overseas Bank, an Indian investment company, Dabur Investments and a Japanese insurance company, the Sompo Japan Insurance Company. Universal Sompo has its headquarters at Mumbai. The Sompo Japan Nipponkoa Insurance Inc. is a leading Japanese insurance provider and is the largest property and casual insurance company in the country of Japan. Universal Sompo is a rapidly growing insurance provider in India. It started operations in India in the year 2007 when it received its Licence and Certificate of Registration from the Indian Regulatory and Development Authority (IRDA). Motor passenger carrying vehicles insurance offered by the company falls under the category of Motor Insurance plans offered.
Advantages of availing Motor Passenger Carrying Vehicles Insurance Plans from Universal Sompo General Insurance
Universal Sompo is a rapidly growing insurance provider in India, it strives to become a trusted leader in the insurance industry; it provides simple yet innovative solutions for various types of insurance. With the backing of Japanese insurance expert Sompo Japan Nipponkoa Insurance Inc., which is a Fortune 500 company, and the backing of three major Indian banks as well a major investment company, Universal Sompo is an ideal insurance company for those looking for robust insurance plans that are provided efficiently and quickly, with the most number of benefits and coverages. Motor Passenger Carrying Vehicles insurance is important as it protects the customer against damages that has been caused to their vehicle or a third party in case there is an accident. For many people, passenger carrying vehicles may be their main source of income. However, this profession has its share of risks, for which the person must have protection of some sort. A motor passenger carrying vehicles insurance plan is essential for the person to ensure that their livelihood is not adversely affected by any untoward accident. These vehicles are used much more extensively than private vehicles and thus, having a good insurance plan is paramount. Universal Sompo is a leading choice in India for motor insurance. The Universal Sompo motor passenger carrying vehicles Insurance Plan is an ideal plan for those customers looking for a simple yet scalable motor insurance plan provided by a highly responsive and robust private motor insurance company. Given below are the advantages of buying motor passenger carrying vehicles insurance plans from Universal Sompo:
- Subscribing to a new motor insurance plan from Universal Sompo or renewing an old one is a hassle-free process.
- A comprehensive car insurance plan is offered by the company which covers for both third party legal liability and own damage liability under the same plan. Moreover, additional covers are also available under the plan.
- There is a facility of cashless claim settlement at authorized network of garages all across the country.
- Depending on the number of claim-free years, the customer will be entitled to a No Claim Bonus. In case the customer is transferring a car insurance policy for the first time to Universal Sompo Insurance, they can be sure that the company will retain the number of claim-free years that has accumulated under the previous policy.
- Availability of 24*7 customer support so that all customer queries and concerns are taken care of expeditiously.
- Customer guidance is provided via the web and through SMS service.
- Variety of discounts available on certain terms and conditions.
Features and benefits of Motor Passenger Carrying Vehicles Insurance plans sold by Universal Sompo General Insurance
The features and benefits of the car insurance plans provided by Universal Sompo General Insurance are discussed as under:
- The policy is provided to the customer instantaneously with the least amount of time and effort spent, and with minimum documentation as well
- There is a vigorous cashless claim settlement across the country at Universal Sompo Insurance certified chain of workshops/garages, all over India.
- The claim assistance facility is provided to customers on all days of the week at all hours, i.e., 24*7. The claim assistance is provided by a highly trained and professional team of customer support specialists
- Add-on covers under the plan which can be opted by a customer may be taken in order to enhance the coverage of the car insurance plan
Universal Sompo Motor Passenger Carrying Vehicles Insurance Plans:
- Scope of coverage
The following contingencies are covered for the car insurance plans offered by Universal Sompo:
- Loss or damage to the car due to natural calamities like fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide and rockslide.
- Loss or damage to the car due to man-made causes like burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity.
- Any damage while the car is in transit by road, rail, inland waterway, lift, elevator or air
- A third party legal liability cover is provided which includes legal protection from death or injury claims from third parties due to damages causing a permanent injury or death of a person and damage caused to the surrounding property including occupants of the vehicle, cost and expenses incurred without the prior consent of the company and personal accident benefits for the proposer, paid driver and the occupants of the vehicle.
- Optional extensions that can be availed under Universal Sompo Motor Passenger Carrying Vehicles Insurance Plans
The following optional extensions may be availed by individuals who are purchasing motor passenger carrying vehicles insurance policies from Universal Sompo:
- Loss of accessories – For a small premium, the customer may insure the electrical and non-electrical accessories in his or her car, such as the music system and air conditioner, seat covers and alloy wheels. These accessories may be covered under the Universal Sompo Car Insurance if the customer so wishes and opts for it. The amount of coverage that will be provided by the policy is solely dependent on the value of the car accessories as declared by the customer.
- Legal liability to paid driver, cleaner or any workman – As the driver or cleaner or workman is considered to be his or her employee, the customer will be liable to pay for any damages, injuries, etc, that he incurs while driving the customers car. The customer may purchase this extended cover in order to protect him or herself from any legal liabilities.
- Personal Accident to the occupants – The customer has the option to purchase an additional personal accident cover for the passenger of his or her vehicle.
- Additional features and benefits provided by the Motor Passenger Carrying Vehicles Insurance Plans offered by Universal Sompo Insurance
- A discount on premiums is provided for installing an anti-theft device as well as voluntary deductibles.
- A No-Claims Bonus is allowed when the vehicle is insured for an entire year without any breaks, with Universal Sompo.
- There is a network of garages that is associated with Universal Sompo all over the country. The claims at these authorized garages are completely cashless.
- For those insured that have memberships with recognized automobile associations, Universal Sompo provides discounts on their cash insurance policies.
- There is a discount for specially Designed/ Modified vehicles for the blind, handicapped and mentally challenged persons.
- A depreciation cover may be provided that has coverage of up to 5 years from the registration date, 100% repayment on replaced items, the repair costs batteries, airbags, nylon covers, fiber glass and tyres, payment of depreciation amount, which is the value deducted on the replaced parts for up to 2 years of admissible claims.
- A discount is provided for those who opt for higher voluntary excess. This automatically reduces the premium that has to be paid by the customer.
- Exclusions – what the Motor Passenger Carrying Vehicles insurance plans of Universal Sompo Insurance does not cover
- The natural and general aging of the vehicle, which results in wear and tear, is not covered by the Universal Sompo Motor Passenger Carrying Vehicles insurance plans.
- The Motor Passenger Carrying Vehicles insurance plans of Universal Sompo Insurance are valid for the use of the car within the country only. If the customer operates the vehicles outside the geographical area of the country, then the insurance policy will not cover him or her.
- If the vehicle is being driven without a driving license, it is recognized as a cognizable offence. Hence, the company will not accept any claims for accidental damage or liabilities that are caused by drivers without a valid license at the time of the accident.
- The company urges its customers to never drive while they are under the influence of alcohol, drugs or any intoxicants. Therefore, the company will, not accept any claim for accidental damages or liabilities that are caused by drivers while under the influence of drugs, intoxicants or alcohol.
- The Motor Passenger Carrying Vehicles insurance plan that is provided by Universal Sompo Insurance is strictly for hire or reward only. Therefore, if the vehicle is being used for purposes such as pace making, organized racing, speed testing, reliability trials and speed testing; and if accidental damages or liabilities occur, then the company will not be entitled to cover the damages and liabilities.
- The car insurance plan provides coverage to the customer for damages to the vehicle that have occurred as a result of accidents only. The company will not cover any expenses that occur due to electrical or mechanical breakdown.
- If there is loss or damage that occurs to the vehicle due to nuclear fission or radioactive contamination, the company is not entitled to cover it.
Applying for the Universal Sompo Motor Passenger Carrying Vehicles Insurance Plans from Universal Sompo General Insurance
The Motor Passenger Carrying Vehicles insurance plans offered by the company can be applied to through multiple channels like:
- Individuals desirous of availing any of the motor passenger carrying vehicles insurance plans can simply call the Sales helpline of the company and speak to the customer service representative.
- Interested individuals can mail their queries at the following email ID contactclaims[at]universalsompo[dot]com or contactus[at]universalsompo[dot]com.
- Lastly, customers may also visit the companys branches or get in touch with an agent to buy the plans required.
Claims process for the Universal Sompo Motor Passenger Carrying Vehicles Insurance Plans from Universal Sompo General Insurance
- When there is an `own damage claim or a theft claim, the following process has to be followed for making a claim:
- Immediately after the accident or as soon as the theft is noted, the customer has to contact the nearest Universal Sompo Insurance branch or call on the call center number or the toll-free number provided and inform them of the same. The claims officials will get in touch with the customer thereafter. The following details have to be provided by the customer while informing the company about the claim-
- Customers contact numbers
- Customers Policy Number
- Name of the Insured Person
- Date and Time of Accident or theft
- Location of loss
- Brief description of how the accident has taken place
- Extent of loss
- Place and the contact details of the insured person (if the person who is informing the company is not the insured person)
- The vehicle should not be left unattended without proper precautions taken to prevent further loss or damage to the vehicle
- The vehicle should not be driven anywhere, as there should not be further damage caused to it. If it driven and the damage is increased, the company will not be liable to pay for the extended damage caused
- A written notice has to be given to Universal Sompo providing all the information and documentary evidence that may be required
- After notifying Universal Sompo, the customer has to provide a detailed estimate of repairs from any repairer of the customers choice
- In some cases, the company may request the customer to obtain an estimate from another repairer
- In case of theft of the vehicle, the customer has to immediately inform the police
- A surveyor will be sent from the company to inspect the damaged vehicle, assess the damage that has been caused and discuss the cost of repairs with the repairer. Then he will submit his report to Universal Sompo
- If the customer has directly paid the repairers bill, the amount may be reimbursed by submitting the receipt to Universal Sompo
- Panels and other major parts should be salvaged as much as possible in order to minimize the loss to a certain extent
- Universal Sompo will arrange a `Spot Survey to ascertain the damage that has been caused to the insured vehicle. The vehicle will be shifted to a garage for repairs only after the spot survey has been completed.
- When there is a third party claim, the following process has to be followed for making a claim:
- Immediately after the accident a written notice has to be given to the company about an accident to a third party
- All information and documentary evidence has to be provided to Universal Sompo
- As soon as Universal Sompo receives notice about the third party claim, it registers the same in the claims intimation register and carries out an investigation about the accident
- A trained investigator is sent by Universal Sompo who will collect all relevant data to quantify a reasonable and just compensation
- The customer has to submit a claim form along with all relevant documents
- On receiving the intimation form Court or MACT, an advocate from the companys panel will be appointed and rigorous follow up done with him or her.
Universal SompoPassenger Carrying Vehicle Insurance- FAQs
1. How to pay premium? What are the modes of payment available?
Universal Sompo General Insurance offers three ways to pay the premium
- Direct debit from your bank
- Credit card payment
- Cheque payment
You need to sign a debit mandate for the direct debit. Thus, you dont have the stress to remember the premium due date.
2. How can I check policy status for Universal Sompo passenger carrying vehicle insurance?
You can check the policy details online or via toll free number.
If you are a registered user, simply login to e-Portal with your username and password.
3. What is the policy renewal process for Universal Sompopassenger carrying vehicle insurance?
There are three ways of renewing your policy with the company.
- Debit mandate- Automatic bank transfer on the date as agreed in the Policy T&C.
- Callhelpline of the company to inquire about the renewal process. Submit the payment in the acceptable bank branch.
- If you have an online insurer profile, directly pay the insurance premium.
4. What is the companys process to settle claim for Universal Sompopassenger carrying vehicle insurance?
Universal Sompo General Insurancetakes 7 business days to settle claims for minor accidents. You need to submit the mandatory hospitalization 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.
5. What is the policy cancellation process for Universal Sompopassenger carrying vehicle insurance?
You get a free look period of 15-days in which you can cancel the policy and premium will be deposited in your bank account, post deduction of incurred charges on your medical examination and the stamp duty charges.
You can cancel your policy by
Letter: Universal Sompo General Insurance Company Ltd.,
Plot No – EL-94,KLS Tower, TTC Industrial Area,
Navi Mumbai 400710.