Universal Sompo Third Party Car Insurance

Universal Sompo Car Insurance

Comprehensive Car Insurance

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Starting Premium

₹ 1994/Yr

No. of Branches

117+

Cashless Garages

9,982+

Universal Sompo Third Party Car Insurance Overview

There are types of Universal Sompo Third Party plan

Third-party liability only

Third-party liability only policy fulfils the mandatory requirement under the Motor Vehicles Act, 1988 for a third party cover. The plan covers legal liabilities incurred in the case of third party damages due to an accident.

Universal Sompo car insurance offers two types of third-party policies:

One year liability only policy-One-year liability only policy covers third party liabilities for a period of one year.
Long term liability only policy-Long term liability only policy covers third-party libraries for a period of 3 years. This policy is available only for new cars.

Universal Sompo Claim Settlement Ratio

91%

Universal Sompo

94.67%

Industry Average

Car claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. Universal Sompo has a claim settlement ratio of 91%, as compared to the industry average of 94.67%.

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Add-ons Available Under Universal Sompo Car Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the Car insurance policy. Universal Sompo Car insurance plans offer the following types of add-ons with the comprehensive policy:

Car insurance policies do not cover depreciation. At the time of the claim, the insurance company deducts the depreciation on different parts of the car thereby lowering your claim amount and leading to out of pocket expenses. In such an instance, the nil depreciation cover is beneficial. The add-on removes the deduction of depreciation and enhances the claim pay-out.

Daily cash allowance provides a daily allowance if your car is at an authorised workstation for the repair of damages if the claim is covered in the policy. If your car is at the service station for more than 3 days, you would get a daily benefit for up to 5 days.

The Insured Declared Value of the car insurance policy is paid if your car is stolen or is damaged beyond repairs. IDV is the market value of your car after accounting for depreciation. However, with the return to invoice add-on, you can claim the invoice value of your car provided that your car is not older than 5 years.

Engine protector add-on covers the expenses of replacement or repair of the engine parts due to consequential damages such as water ingression due to flood or leakage of lubricating oil.

No claim bonus protector protects the no claim bonus discount which you have earned for not making claims in previous policy years. In the case of a claim, the bonus becomes zero but if you opt for this add-on, your bonus is retained even after you have made a claim.

Under hydrostatic lock cover, the insurance company will pay for the damages arising out of replacement or repair of the engine part of the car due to hydrostatic lock or water ingression in the engine.

Secure towing rider covers an increased cost of towing and removing the damaged vehicle to the nearest workshop as well as re-delivery of the car after repairs.

In the case of accidental death or permanent total disability suffered by the owner, the insurance company will pay education fees of the named child/children, subject to terms and conditions of the add-on.

Roadside assistance add-on is useful if your car faces a breakdown and is not in a condition to be taken to the nearest garage. Universal Sompo car insurance provides 24/7 roadside assistance for flat tyre service, emergency towing assistance due to breakdown or accident, electrical breakdown, fuel delivery, etc. It also provides accommodation and cab service as an alternate mode of transport if you are stuck in the middle of the road.With this add-on, you can cover the cost to replace the lock and key of your vehicle if it is broken or stolen and the labour cost for opening the vehicle if you have lost the keys of the car.

A car insurance policy does not cover the cost incurred on consumables in case of repair of the car. The cost of consumables add-on covers the expenses incurred towards consumables.

This add-on provides compensation up to INR 500 to the policyholder for obtaining a duplicate licence or a duplicate registration certificate.

Under this add-on, the sum insured is expressed as the difference between the IDV and the manufacturer’s selling price. This add-on, therefore, gives you a higher amount of coverage.

Under this add-on, a daily benefit of Rs 2,000 per day for a maximum of 30 days of hospitalization is covered if you are hospitalized following a car accident.

Under this add-on, you can get the reimbursement of the hospitalization expenses of any family member who is an accidental injury when travelling in the car.

This add-on covers the cost of accommodations for overnight stay or cab expenses to travel to your place of residence in the event of an accident in which it is impossible to drive your vehicle or if your car is stolen.

This add-on is an additional benefit in case of accidental injury leading to death or permanent total disablement. The benefit paid under this add-on will be in addition to the benefit paid under the mandatory personal accident cover available under car insurance plans.

Personal belongings such as clothes, baggage, phone, bag, etc. belonging to you or your dependent family members are covered under this add-on. If the personal belongings are stolen from your car, the insurance company will pay INR 500 for each claim.

This add-on provides additional coverage for a named family member in case of accidental death or accidental permanent total/ partial disability in any accident involving the car.

This add-on provides coverage against assault or bodily injuries leading to permanent total disability or death in an accident whether you are travelling in the insured vehicle or not.

Electrical/ mechanical breakdown is one of the common exclusions in car insurance policies. If you buy this add-on then the insurance company will pay you for the cost of repairs if your car suffers a breakdown due to electrical or mechanical defaults.

How To Raise A Claim Under Universal Sompo Third Party Car Insurance

The claim process is as follows

Immediately inform the insurance company in the case of any claim. You can intimate the claim by informing the insurance company online or by calling on their toll-free number.
The insurance company will then advise you to take your car to the nearest preferred garage.
A surveyor would be sent by the insurance company at the garage who will check the damages caused to your car.
Once the survey is done, the insurer would approve cashless claims after which the grace would start the repairs.
After completion of the repair, the insurance company will settle the claim directly with the network garage and allow you to take the delivery of your car.
A police FIR is required to be filed in case of third party claims. The third-party claim is handled by the Motor Accident Tribunals to calculate the liability involved in the claim. The insurance company will pay the third party claim based on the judgement of the tribunal.
A police FIR is also required if your card is stolen and you want to make a theft claim. If the police are unable to find your car, they would issue a certificate stating that your car is untraceable. Submit the certificate to the insurance company based on which it will pay a theft claim.
If you get your car repaired at a non-networked garage, you would have to pay for the repair costs. After the car is repaired, collect all the bills and file your claim. Submit the original bills to the insurance company and the company would reimburse you for the costs incurred.

Alternatively, you can intimate Turtlemint of your car insurance claim. Turtlemint has an expert claim assistance team that helps you get your claims settled quickly and effortlessly. All you have to do is visit https://www.turtlemint.com/raise-claim/ and click on ‘Raise Claim’. Then, choose ‘Car’ as the product, the name of the insurer, policy number, claim details and your contact information. Submit the details and Turtlemint would handle your car insurance claim. You can also call 1800 266 0101 or send an email to support@turtlemint.com for any assistance that you need at the time of claims