Everything You Should Know about Universal Sompo car insurance
Updated On Oct 16, 2023
Read this article to know everything about Universal Sompo car insurance.
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Universal Sompo Car Insurance is the outcome of a joint venture involving three Indian banks which are Allahabad Bank, Karnataka Bank, and Indian Overseas Bank, as well as an Indian investment firm, Dabur Investments, and a Japanese insurance firm, Sompo Japan Insurance Company. The headquarters of Universal Sompo General Insurance Co. Ltd. is located in Mumbai. Universal Sompo began operations in India in 2007, after receiving a license and certificate of registration from the Indian Regulatory and Development Authority (IRDA), and has continued to develop steadily since then.
It is a market leader in the insurance industry, with products and services for individuals, corporations, and small businesses that meet all key demands in marine insurance, vehicle insurance, general accident insurance, property insurance, and workers’ compensation insurance. Aside from these diverse goods and services, it offers creative risk management, portfolio analysis and management, sensible underwriting solutions, and business continuity planning assistance to its customers.
Everything You Should Know About Universal Sompo Car insurance
Universal Sompo General Insurance provides two types of car insurance policies: third-party car insurance and comprehensive car insurance. The former is a policy that protects you as well as your car from financial losses and damages when a third party is involved after an accident, while the latter is a policy that protects you as well as your car from financial losses and damages after an accident or any mishap such as theft, fire, natural calamity, or man-made calamity.
To supplement the coverage of your car insurance policy, you can acquire add-on covers from the insurance provider for a little additional price, ensuring all-around safety when on the road. The insurer offers add-on coverage such as nil depreciation, return to invoice, daily cash allowance, key replacement, and roadside assistance, among others. In addition to these benefits, policyholders can earn a No Claim Bonus by going an entire policy year without filing a claim on their own-damage premium, which they can use at the time of renewal. This discount might range from 20% to 50% depending on how many years you go without filing a claim. Do not forget to download Universal Sompo car insurance policy online.
Universal Sompo Car Insurance Benefits
- Allows policyholders to file an unlimited number of claims.
- Provides both third-party and comprehensive insurance coverage.
- Has a large network of almost 3,500 garages.
- Policyholders have access to emergency help 24x7.
- Customer service system that is capable of resolving their issues
Exclusions in Sompo's Car Insurance
There are some damages or losses that are not covered by insurance. The following are some of the exclusions:
- Accidents that occur outside of the geographic area.
- Any ordinary wear and tear resulted in a monetary loss.
- When driving without a valid driver's license, an accident or damage occurs.
- Loss or damage occurred Under the influence of drugs or alcohol.
Universal Sompo is an excellent insurance provider for people seeking comprehensive insurance products delivered swiftly and effectively with the best perks and coverages. Every car owner should get insurance since it protects them against damages to their own vehicle or a third party in the unfortunate case of an accident.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.