Universal Sompo General Insurance Co. Ltd. is a joint enterprise between Karnataka Bank Limited, Allahabad Bank, Dabur Investments, Sompo Japan Nipponkoa Insurance Inc. and Indian Overseas Bank. The firm, with its headquarters in Mumbai, has 17 zonal and 113 branch offices across the country offering the best insurance solutions.
Universal Sompo Car Insurance Renewal Premium Calculator
Universal Sompo website, as well as third-party websites, come with a built-in tool called the premium calculator that calculates and quotes an estimate of your insurance premium. The calculator has a number of parameters for which you are to provide relevant and genuine information. The calculator will quote your insurance premium based on the information you have provided.
Universal Sompo Car Insurance Renewal Procedure
You can renew your car insurance with Universal Sompo either offline or online:
Renewing your insurance premium online is a hassle-free and quick process. The following steps are involved in the online renewal process:
- Verify your existing policy details
- Get your insurance premium quote
- Pay for the renewal via Debit Card/Credit Card/Net Banking
- Get a printout of your insurance policy certificate from the website
You also have the option of purchasing motor insurance policy offline, directly from the nearest Universal Sompo branch office or from an authorised insurance agent.
Universal Sompo Car Insurance Renewal Features and Key Benefits
Universal Sompo car insurance comes with certain key features and benefits:
- No Claims Bonus (NCB) offered for every claim-free year.
- Discount on insurance premium with the installation of ARAI approved anti-theft devices in your car.
- Discount on insurance premium on opting for a higher voluntary deductible.
- Discount on insurance premium for vehicles specially designed for the physically and/or mentally challenged people.
- Instant policy issuance.
- Hassle-free claim settlement process.
- Cashless claim settlement facility available at more than 3,500 network garages.
Universal Sompo Car Insurance Claim Process
Insurance claim process for own damage claim:
- Inform the insurer as soon as the mishap takes place. Get in touch with the nearest Universal Sompo branch/zonal office or call Universal Sompo’s dedicated customer care on:
- Or call the toll-free number (from BSNL and MTNL Lines only): 1-800-22-4030 and raise a claim request.
- The claims officials will contact you take you through the claim settlement procedure.
- You have to provide the following information to the officials:
- The driver’s name and contact details
- The policyholder’s contact details (in case the insured wasn’t the one driving the vehicle when the mishap took place)
- The insurance policy number
- Date, time and location of mishap
- Details on the mishap and loss/damage
Insurance claim process for third-party liabilities claim:
- Don’t move the vehicle from the place of mishap.
- In case of theft, lodge an FIR at the nearest police station and obtain a copy of the same.
- Collect all the necessary documents as requested by the insurer.
- Provide an estimate of the repairs to the insurer after getting your vehicle checked by a mechanic.
- Submit the relevant documents along with the claim form to the insurer.
- On receiving the documents, the insurer appoints an authorised surveyor to assess the total damage/loss due to the mishap.
- The surveyor inspects the damaged car and confirms the total cost of repair/replacement, based on which he/she submits the incident survey report to the insurer.
- On the insurer/surveyor’s approval, take the car to the nearest garage, depending on the type of claim request you have raised, cashless/reimbursement claim.
- If you have raised a cashless claim request, your bills for car repairs will be settled by the insurer directly with the network garage after you have paid the deductible, depreciation, etc.
- If you have raised a reimbursement claim, you have to pay for the repairs made to your car and submit the payment receipt/invoice to the insurer in order to get the amount (minus the deductibles, depreciation, etc.) you spent on your car repairs reimbursed
- In case of commercial vehicles that get involved in a mishap, all the steps involved in claim process are the same as a private vehicle except, when it comes to the survey, the insurer arranges for a spot survey to assess the total loss/damage. The vehicle is to be shifted only after the assessment by an authorised surveyor.
- Inform the insurer about the mishap with a third party and the liabilities that have arisen due to the same via a written letter.
- Get details of the third-party vehicle, contact details of the witnesses, if any, and necessary documents as instructed by the insurer.
- Register a third-party liability claim.
- An authorised surveyor will be assigned to carry out the loss/damage assessment.
- Submit the relevant documents along with a duly signed and filled claim form to the authorised surveyor.
- Once you receive an intimation of your court date, a competent lawyer will be assigned to you by the panel and a follow-up on the incident will be done with him/her. Depending on the court's ruling, you may/may not have to pay the third-party liabilities.
Universal Sompo Car Insurance FAQs
Does your motor insurance premium include service tax too?Yes, motor insurance premiums are inclusive of service tax.
What is a deductible?
A deductible is a part of the insured amount that you agree to pay. There are 2 kinds of deductibles in a car insurance, voluntary deductible and compulsory deductible.
What are the necessary documents to be carried in the vehicle at all times?
Insurance Certificate, a copy of your vehicle’s Registration Certificate (RC), your vehicle’s Pollution Under Control (PUC) certificate and a copy of the driver’s driving licence are the documents to be carried in the vehicle at all times.
Can I continue using the motor insurance policy in the previous car owner’s name even after the RTO records have my name as the car owner? In case you are using the motor insurance policy which is in the previous owner’s name, and you decide to raise a claim request, it will be denied due to the ambiguity in names between the RTO and the insurance records. Both the records should exhibit your name if you want to register a claim request.
In case I lose my original insurance policy document, will I get a duplicate copy of the same?In case you lose your original policy document, you can go to the nearest Universal Sompo office and receive a duplicate copy of the policy document on submission of a written letter requesting the same. You will be charged a small fee for the issuance of the duplicate policy document.