Universal Sompo Bike Insurance Claim
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Universal Sompo Bike Insurance Claim
Universal Sompo General Insurance is a fast-growing insurance provider that has an excellent claim settlement ratio of 90.78% recorded in the financial year of 2019-2020. Universal Sompo bike insurance policy shields its policyholders from the financial obligations of the insured’s bike arising out of road mishaps, theft or disaster. It even relieves the policyholders from the legal burden of the third party in case of an accident.
Universal Sompo General Insurance has successfully settled insurance claims of its policyholder with the help of its efficient support team. It has digitalized the claim settlement procedure to make it easier for its policyholder.
List of Documents Required During Claim Settlement
The following documents are required at the time of a claim settlement:
- Policy copy
- Duly filled and signed claim form
- A copy of Registration Certificate (RC)
- Original repair invoice for cashless claims
- Driving license of the person driving at the time of the accident
- Original repair estimate, repair invoice and payment receipt for non-cashless claims.
How To Make Universal Sompo Cashless Bike Insurance Claim?
Universal Sompo has designed a simple procedure to settle claims of its policyholders without any hassle. The steps of the claim settlement procedure have been discussed below:
Step 1: Contact Universal Sompo General Insurance
You should notify Universal Sompo General Insurance immediately after the accident, damage or theft of the insured’s bike. You can get in touch with the insurer by dialling its toll-free number 1800-22-4030 or by visiting the nearest office.
Step 2: Register A Claim
A claim official of the insurance company contacts you after the intimation and issues a claim form. The policyholder should provide the following details to the claim official:
- Contact Numbers
- Policy Number
- Name of Insured person
- Date & Time of accident
- Location of Loss
- Brief description on how the accident took place
- Extent of loss
- Place & contact details of the Insured Person (in case person intimating the claim is other than the insured person).
The claim official provides the policyholder with a claim registration number. The policyholder should collect or download the claim form at this point.
Step 3: Survey of Damages
A company surveyor is sent to assess the extent of the damages caused to the bike during the accident. In the case of third party property damage, you should provide its vehicle registration number. You can even provide contact details of witnesses as proof. The surveyor estimates the cost of repair and collects the duly filled claim form, policy documents and proves of the incident.
Step 4: Claim Settlement
After assessing all the aspects, the surveyor gives approval. The insurer confirms its financial and legal liabilities and pays all the expenses of repair of the insured’s bike to the garage. The claim amount is calculated taking the deductibles and depreciation into consideration.
How To Make Universal Sompo Reimbursement Bike Insurance Claim?
A reimbursement claim can be registered if you can not find a network garage nearby or want to repair the bike in any other garage. The policyholder receives compensation for the repairs through a reimbursement claim. The process of placing a reimbursement claim is described in the following steps:
Step 1: Contact the insurer
You can initiate the reimbursement process by dialling its helpline number 1800 22 4030. You may even intimate the insurer by visiting the nearest branch. The insurer should be informed immediately after the accident or theft of the insured’s bike.
Step 2: Register A Claim
Universal Sompo Insurance company claim official calls you back after the intimation. You have to inform the claim official about the policy number and details about the accident. You receive a unique claim reference number which should be saved for future reference.
Step 3: Survey of the Damages Incurred
The insurance company appoints a surveyor to check the condition of the bike. You should not move the bike to the garage before the surveyor arrives. The surveyor prepares an estimate of the cost of repair and collects the required documents, duly filled claim form and contact numbers of witnesses or photos of the incident as proof.
Step 4: Repair and Reimbursement
After the approval from the surveyor, you can move the bike to your desired garage and get it repaired at your own expense. After the completion of the repair, the bills and receipts of repair along with policy documents are to be submitted to the insurer for the reimbursement. The company verifies the case and disburses the claim amount factorizing all the deductibles and depreciation.
Common Universal Sompo Bike Insurance Claim Rejection Reasons
Universal Sompo General Insurance has set some standards that every policyholder needs to follow to settle a claim. The insurer rejects the claim under the following circumstances:
- Act of negligence
- Misinterpretation of facts
- Registration of a fraud Claim
- Lack of details required to process the claim
- Delay in intimation about the mishap to the insurer
- Driving without a licence or under the influence of alcohol or intoxicating drugs.
Universal Sompo No Claim Bonus
The No Claim Bonus is a reward that is given to the policyholder for every claim-free year by the insurance provider. Universal Sompo and the other insurance companies offer this benefit with only their own-damage covers. These can either be purchased as a standalone cover or a comprehensive insurance plan for your two-wheeler. This reward is cumulative in nature and goes up to 50% in the fifth consecutive year. However, any claim, no matter how minor will disable this reward. Thus, it is advised that every policyholder refrain from filing a two-wheeler insurance claim unless the damage due to the mishap is significant.
Moreover, to keep the No Claim Bonus intact the insurance holder is also expected to keep up the renewal process in a timely fashion. If they fail to do so the NCB will be lost. To avoid such situations, the insurance provider gives a grace period of 90 days to the policyholder. If there are any delays in renewal after this period will lead to a cancellation of the policy and the accumulated NCB. Lastly, the NCB is a benefit offered because of the policyholder’s safe driving. Hence, if you want to transfer to a different insurance company or even sell your two-wheeler and purchase another one, your NCB remains valid as long as you renew on time.
Explore Universal Sompo Bike Insurance
Must Read Articles before buying Universal Sompo Bike Insurance
- Read this article to know how to get a duplicate Two-wheeler insurance copy online from Universal Sompo.
- Read this article to take a note of the things that you should consider while renewing your bike insurance policy.
Universal Sompo Bike Insurance User Reviews
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Universal Sompo Bike Insurance Claim FAQs
How to check the claim status of my Universal Sompo bike insurance policy?
You can check the claim status of your Universal Sompo bike insurance policy online by following these steps:
- Visit its official website
- Click on the “Track Claims” option under Claims section.
- Fill up the form that opens up
- Click on “Submit”
- The claim status is shown
You may also track your claim status by dialling the helpline numbers which are 1800-22-4030 and 1800-200-4030.
From where do I get the claim form of Universal Sompo bike insurance policy?
You can download the claim form of Universal Sompo bike insurance policy from its official website or reach out to the nearest branch and collect the hard copy of the claim form.
Do I need to carry my driving licence while claiming Universal Sompo bike insurance policy?
Yes, you need to carry your driving licence while claiming Universal Sompo bike insurance policy. You should make sure that the driving licence is valid.
Is the bike insurance claim process time-bound?
Yes, the claim process is time-bound. It is advisable to inform the insurer within 24 hours of the incident.
How can I locate the nearest office of Universal Sompo General Insurance?
You can locate the nearest office of Universal Sompo General Insurance by clicking on the “Office Locator” on its official website. You may also call up its helpline numbers 1800-22-4030 and 1800-200-4030 to get assistance in finding the nearest office location.
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