Universal Sompo Two-Wheeler Insurance Policy

Two-wheeler insurance policies are compulsory for any two-wheeler vehicle owner in India. The motor insurance policies must be purchased for all the vehicles that are falling under the ambit of motor insurance. The Universal Sompo provides a two-wheeler insurance policy that covers all the vehicles which are employed for commercial, leisure, and domestic purposes. The insurance plan can also be purchased for the vehicles used for corporates along with the ones that are used for logistics purposes.

Benefits of Universal Sompo Two-Wheeler Insurance Policy

Significant features of this policy are:

• Third-party liability covers provided in case of accidents.
• Transparent depreciation factors are mentioned in the insurance policy for the vehicle parts.
• No claim bonuses are provided in case the claims haven’t been filed earlier in the plan tenure.
• Personal accident cover is available for the vehicle owner and other passengers.
• Humanmade and natural disasters are covered under this insurance policy.
• Extensive support for the customers.
• Comprehensive add-on covers for the loss of electrical, non-electrical accessories and legal liability protection.

Inclusions in Universal Sompo Two-Wheeler Insurance Plan

The policy provides coverage on loss to the vehicle under the following circumstances:

• Fire
• Self-ignition
• Explosion
• Burglary
• Lightning
• Strike
• Riot
• Terrorism
• Malicious act
• Flood
• Earthquake
• Typhoon
• Rockslide or landslide
• Accidental external forms
• Transit through road, air, rail and inland waterways.

Other than the inclusions as mentioned above, the policyholder will also get covered for the legal liabilities occurring due to third-party injuries as well as any consequential property damages incurring in the accident.

Universal Sompo Two-Wheeler Insurance Policy Claim Process

In the event of an accident, the policyholder should immediately inform the insurance provider about the damages either by visiting the nearest branch of Universal Sompo or calling on the toll-free number.

Here is the step by step method of claim process:

• Provide written notice immediately to the insurer with the accident details.
• Provide all the documentary proofs and details as requested by the insurance providers.
• Once the insurer gets the information, the claim will be registered, and the investigation will start.
• The investigator will investigate the damages and determine the compensation amount as per the assessment.
• The claim form should be submitted after completing the steps as mentioned earlier.
• When the intimation is received from MACT or court, an advocate can be appointed from the panel for further proceedings.
• In case of damage from accident or theft, following are the actions required to be taken:
  • Keep the vehicle protected to prevent any further damage.
  • Avoid using the vehicle until repairs have been done as this insurance policy won’t cover the costs arising out of previous accidents.
  • Provide a written document to the insurance provider along with all the relevant information and evidence as requested.
  • Provide a detailed estimate of all the repair expenses.
  • Inform the police immediately if the vehicle gets stolen.
  • Once the claim form and repair estimates are submitted to the insurer, then the insurance provider will appoint a surveyor to analyze the loss.
  • The surveyor will present the report to the insurance authorities.
  • If the policyholder has already paid the bills, then the reimbursement claims should be filed.
  • Any significant parts or panels which can be rescued should be collected to reduce the quantum of loss.

Documents Required for Claim Settlement

The policyholder needs to provide the following details while filing claims with the insurer:

• Contact number
• Name of the policyholder
• Insurance policy number
• Time and date of the accident or damage through other sources.
• Location of Accident
• The brief explanation about the loss or damage and the circumstance in which it has happened.
• The extent of the loss.
• If another person makes a claim, then the contact details and location of the insured is required.

Claim Settlement Process

Once the claim has been intimidated to the insurer, the following will be the steps taken by the company.

• A surveyor will be appointed within the next 24 hours of filing a claim.
• The surveyor will assess the damages and inform the same to the insured.
• On completion of the vehicle repairs, the surveyor will once again inspect the vehicle.
• Original documents of payment receipts and repair invoice will be submitted to the insurer.
• The claim amount will be disbursed within the next seven working days once all the relevant documents are provided.

Renewing Universal Sompo Two-Wheeler Insurance Policy Online

Nowadays the policyholders don't need to visit the insurer's office for renewing the two-wheeler insurance policy. The policyholders can renew the insurance policy online in a few simple steps that are listed below:

• Visit the insurer's website and verify the existing plan by entering some details such as the name of the insured, email address, contact details, policy number, and the registration number of the vehicle.
• Verify the details of an insurance policy as listed by Universal Sompo and confirm, if the information is correct.
• The premium amount payable for the renewed policy will be displayed on the screen. On verifying the amount, select the method of and authorize it.
• An acknowledgment will be emailed to the policyholder, which can be printed until the original policy documents are sent by post.

FAQs

Q1. If I met an accident in a different state, will I still be covered under it?

Yes, you will be covered in the policy irrespective of the city or state the accident has taken place.

Q2. Where can I find a claim form?

Either download a claim form from the company' website or visit the nearest branch office and collect a copy of the claim form from there.

Q3. Will I be reimbursed the full amount at the time of filing a claim?>

You will get the total amount as recorded in the claim, with certain exceptions:

• Compulsory deductible under the insurance policy.
• Depreciation amount, as specified in the policy document.
• Voluntary deductibles, as applicable.