Universal Sompo Third Party Bike Insurance
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Universal Sompo Third Party Bike Insurance
Universal Sompo General Insurance has been shielding thousands of people against the unforeseen events of life. Universal Sompo third party bike insurance policy provides a cost-effective solution to the policyholders for fulfilling the mandatory requirement of the law as well as dealing with the liabilities towards the third party.
Universal Sompo General Insurance has digitalized its procedures in order to ensure a better experience for the policyholders. It provides maximum assistance to the policyholders through its efficient support team. Universal Sompo third party bike insurance policy covers the financial and legal liabilities of the insured’s bike towards the third party at an affordable premium.
Universal Sompo Third Party Bike Insurance vs Comprehensive Bike Insurance
Third Party Bike Insurance
Comprehensive Bike Insurance
Third party bike insurance policy covers the financial and legal liabilities of the third party only.
Comprehensive bike insurance policy provides coverage for both third party liabilities and own damage to the insured’s bike.
Nature of Requirement
As per the Indian Motor Tariff Act, this policy is a statutory requirement.
This policy depends on individual preferences and thus it is optional.
Third party bike insurance policy does not offer any add-on cover to the policyholders.
Policyholders can stretch the coverage of this policy by opting for various add-on covers.
The limited coverage offered by this policy makes the premium relatively lower.
This policy comes with a higher premium due to the extensive coverage it provides.
What All is Covered Under Universal Sompo Third Party Bike Insurance Policy?
The Universal Sompo third party bike insurance policy provides coverage for the following:
- Financial liabilities of third party property damage: The Universal Sompo third party bike insurance policy provides coverage for any property or vehicle damage of the third party caused due to the insured’s bike. The insurer provides compensation up to Rs. 1 Lakh for third party property damage.
- Bodily injuries/loss of life of third party: The insurer takes care of any bodily injuries, disability or loss of life of the third party caused in any mishap involving the insured’s bike. The compensation amount, however, is decided as per the court of law.
What All Is Not Covered Under Universal Sompo Third Party Bike Insurance Plan?
The third party insurance cover offers limited insurance coverage which every policyholder needs to be aware of. Here are the points which are not covered under the third party bike insurance policy:
- Damages sustained by the insured bike are not covered
- No compensation for injuries suffered by the policyholder
- Optional personal accident cover is not available with the third party cover.
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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17 Universal Sompo Cashless Garages in India
Universal Sompo Third Party Bike Insurance FAQs
Will the Universal Sompo third party bike insurance policy cover an accident that occurred outside the geographical area?
No, the Universal Sompo third party bike insurance policy will not provide any coverage for an accident or any other mishap that occurred outside the pre-decided geographical area.
What coverage will I get in case of the death of the third party?
The insurer will provide financial and legal support to the policyholder in case of the death of the third party. The compensation amount to be paid by the insurer is decided as per the court of law.
How can I pay the premium of my Universal Sompo third party bike insurance policy?
You can pay the premium of Universal Sompo third party bike insurance policy in the following ways:
- Direct debit from your bank
- Credit card payment
- Cheque payment.
How can I check the status of my third party bike insurance policy?
You can check the status of Universal Sompo third party bike insurance policy online or by dialling the toll-free numbers 1800-22-4030 or 1800-200-4030. For checking the status online you have to get registered on the official website.
Can I stretch the coverage of Universal Sompo third party bike insurance policy?
No, you can not stretch the coverage of Universal Sompo third party bike insurance policy as it does not offer any add-on covers. For extensive coverage, you can opt for the comprehensive bike insurance policy.
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