Universal Sompo General Insurance Co Ltd provides the Two-wheeler Insurance Policy to help the riders in critical situations. Safeguarding yourself is important because we do not know what happens in future. In some situations, accidents like fire accidents, road accidents, etc will occur. Two wheeler insurance policy is must for any two wheeler vehicle owner. Hence Universal Sompo Two Wheeler Insurance is introduced to provide the best coverages on the damages caused in various unexpected situations.
Universal Sompo Two Wheeler Insurance Policy Review
The main aim of the USGI Insurance Policies is to provide the best coverage for the individuals and also help them in difficult situations by providing the expenses. For this, the Universal Sompo General Insurance offers various Insurance plans like Motor Insurance, Travel Insurance, Home Insurance. This two wheeler insurance policy is one of the policies in Universal Sompo motor insurance. Universal Sompo Two Wheeler Insurance is an insurance which covers Personal Accident, third party legal liability and other medical expenses. This Bike Insurance policy is excluded for the racing, speed testing, reliability trial and any other usage that deals with motor trade. It also provides the Bike Insurance Plans for Groups, Individuals and Personal accidents.
Features of USGI Two Wheeler Insurance Policy
The features of the Universal Sompo Bike Insurance Policy include the following
- Third party liability cover offered in the event of accidents.
- Clearly defined depreciation factors for vehicle parts.
- No claim bonuses offered in case claims haven’t been filed earlier in the tenure.
- Personal accident cover for driver/owner of the vehicle.
- Man-made calamities and natural disasters covered under the policy.
- Extensive support for customers.
Benefits of Universal Sompo Two Wheeler Policy
The Benefits of the Two Wheeler Insurance Policy of the Universal Sompo are as follows:
- Facility for No Claims bonus for claims free experience.
- Discount for opting higher voluntary excess
- Discount for approved anti-theft devices installed in the vehicle.
- Deduction for specially designed/modified vehicle for blind, handicapped and mentally challenged persons.
- Reduction for the parts needing replacement in the accident is defined.
Universal Sompo Two Wheeler Insurance Policy Coverages and Inclusions
Universal Sompo Motor Cycle Insurance offers the best Plans with a broad range of benefits for you and your family. This Policy offers the coverage on the damage caused by the following cases.
- Covers the damage caused by natural calamities like fire explosion self-ignition or lightning.
- Provides the coverage of the damage caused by burglary housebreaking or theft.
- This policy offers the coverage on the damage caused by the man-made calamities like riot and strike.
- Provides the insurance coverage on the damage caused by the earthquake (fire and shock damage).
- Offers coverage on the Loss caused by flood typhoon hurricane storm tempest inundation cyclone hailstorm frost.
- Accidental external means.
- Malicious act.
- Terrorist activity.
- While in transit by road rail inland-waterway lift elevator or air.
- Landslide rockslide.
Exclusions for the Two Wheeler Insurance Policy of Universal Sampo
In the bike insurance policy, certain damages are excluded from the coverage. Take a look at the following list of exceptions Universal Sampo Two Wheeler Insurance Policy.
- Any accidental cause or damage caused outside of the geographical area.
- Contractual liability claims.
- Any accidents caused when the person used the vehicle more than the limit.
- Consequential loss.
- Excluding Vehicles use for reward/racing/pacemaking/reliability trial/speed testing and use for any purpose in connection with the Vehicle Trade.
- USGI does not provide any coverage if the person is driving the vehicle by taking the drugs or liquor.
- Any liability caused by the nuclear weapons materials.
- Normal wear and tear.
- Driving without the valid license for the class of vehicle.
Add-on covers available for the USGI Two Wheeler Insurance Policy
The Add-on covers for the Universal Sompo Two Wheeler Policy are mentioned below.
- Add on- Nil Depreciation Cover.
- Return to Invoice.
- Daily Cash Allowance.
- Manufacturer’s Selling Price /On Road Price.
- Loss of driving license.
- Additional Accidental Injury Compensation(Owner).
- Wider PA benefits (Owner).
- Accidental Hospitalization cover for Family.
- Hospital daily cash.
- Additional Accidental Injury Compensation (Family).
- Driving-train Protect.
- .Cost of Consumables.
Add on- Nil Depreciation Cover:
The UIN of this add-on is UIN: IRDA/NL/F&U/USGI/Motor/Add-On/1. When you pay the extra premium on your policy, the USGI provides the coverage on the partial loss caused in an accident. The coverage will be provided only in three cases.
- There will be No depreciation charged on the cost of the parts to be necessarily replaced.
- 75% waiver of currently applicable depreciation for Rubber /Nylon/Plastic parts/Tyres/Tubes/Battery.
Return to Invoice:
In consideration of the extra premium paid by the insured, the Company will pay the “difference amount” between the “On Road Price” and Insured Declared Value in the event of a Total Theft or Total Loss.
On Road Price =Manufacturers’ Selling Price of the vehicle+ Road Tax + Other Charges incurred for the make of vehicle.
Daily Cash Allowance:
If the insured pay the extra premium, this add-on cover will be applicable. The company will pay you the daily cash allowance in case if your vehicle is in the garage due to repairs caused in an accident. The benefit shall be limited to total five days.
Manufacturer’s Selling Price /On Road Price:
This add-on cover will be available only if you pay the extra premium. Company agrees to pay the amount between the “Manufacturing selling price” and Insured Declared Value in the event of a Total Theft.
Loss of driving license:
In consideration of the extra premium, this add-on facility is available for you. If you lose your driving licence, the company will pay upto Rs.500 to obtain a duplicate license.
Additional Accidental Injury Compensation(Owner):
The company provides this add-on cover when you pay the extra premium. A company will pay the amount when the insured leads to an accidental death or Permanent total disability.
Wider PA Benefit(Owner):
In consideration of the extra premium of the policy, you will get this add-on facility. The insured would get the maximum cover of 5 lacs if he met with the personal accident in the insured vehicle.
Accidental Hospitalisation cover for Family:
Universal sompo will provide this add-on cover facility only when you pay the extra premium. It will give you the inpatient hospitalisation expenses incurred for accidental injuries while travelling in the insured vehicle only. Universal Sompo offers the maximum cover of 5lacs for the registered family members.
Hospital daily cash:
If the person is injured in the insured vehicle and taking the treatment in the hospital, Universal sompo will provide the cash of Rs.2000 daily. To obtain this benefit, you have to submit the documents in support of the hospitalisation.
Additional Accidental Injury Compensation (Family):
USGI Company will provide the amount to the insured family members when they travel in the insured vehicle and leads to injury/death. USGI provides the maximum cover of 5 lacs.
When you pay the additional premium, you will get this add-on cover. Universal Sampo provides this add-on to cover the consequential damage to the internal child parts of the engine, differential housing, etc.
Cost of Consumables:
If you pay the additional premium, this add-on cover is available for you. You can replace the insured vehicle due to damages caused in an accident. The USGI will give you the money for the replacement.
USGI Two Wheeler Insurance Policy Premium Calculator
You can know about the minimum premium that has to pay to take the policy by using the USGI Premium Calculator. You have to enter the below information to buy the Universal Sompo Two Wheeler Insurance Policy.
- Registration state of vehicle
- Type of vehicle
- Class of vehicles.
- Body type.
- Registration location, etc
Universal Sompo Bike Insurance Renewal Process
You can renewal the Universal Sompo Two Wheeler insurance policy either in offline mode or online mode. But the online process is a very easy process. If you want to renewal the policy in offline mode, contact the branch office which is near to you. You can renewal the policy before 30 days of the expiry date. Follow the steps for the online renewal process.
- Visit the official website www.universalsompo.com.
- On Top of the Home Page you can find Motor Insurance – Renew Option.
- Click on Renew.
- Then you will redirect to Online Renewal Page.
- Enter your Policy number and click Next.
- Now you can see the Premium Amount you need to Pay to renew your Policy.
- Check the Premium and Pay through online.
Universal Sompo Two Wheeler Insurance Policy Buying Procedure
You can buy the Bike Insurance policy of the USIG either in online mode or offline mode.
Online Buying Process:
- First of all, Visit the Universal Sompo General Insurance official website: www.universalsompo.com.
- There you can see the Motor Insurance option. Click on it and Select Motor Two Wheeler policy.
- Calculate Premium with the help of Universal Sompo Premium Calculator and Buy Online.
Offline Buying Process:
The customer has to buy the insurance policy from the licensed agent. Universal Sompo Two Wheeler Proposal Forms have required to Buy the policy in offline mode. Universal Sompo Insurance Forms & documents are needed for Buying a new policy.
- The person who wants to buy the motorcycle insurance policy may visit the nearest Universal Sompo General Insurance branch.
- Insured may download the Universal Sompo Two Wheeler Insurance Forms and Documents from the official website or the link provided below.
- Insured has to select the premium amount, and he has to pay the premium in terms.
- Along with Universal Sompo Motor Two Wheeler Insurance proposal forms, you have to attach the relevant documents.
Universal Sompo Bike Insurance Policy Claim Procedure
The claim procedure for the USGI two wheeler is available below. Hence follow these steps to claim the damages.
- The Policy Holder has to Intimate about Claim by calling to Toll-Free No 1-800-22-4030.
- You can also claim by visiting the Universal Sompo General Insurance Nearest Branch after the occurrence of damage.
- Insured must use the claim forms to intimate about the damage and the estimation of the money to the insurer.
- The surveyor appointed by the Universal Sompo company will look after the damages.
- After the inspection, surveyor intimates to the company.
- Then the USGI company will pay the amount to the policy holder.
- In the case of Commercial Vehicles damage, The Insurance Company will immediately appoint a Spot Survey team for inspection of the Vehicle.