Universal Sompo Car Insurance

Universal Sompo General Insurance Company is a private-public joint venture. It is the first of its kind and the venture is comprised of two nationalised banks - Indian Overseas Bank and Allahabad Bank, one private bank - Karnataka Bank, an FMCG company Dabur Investment Corporation and the well-known Japan-based insurance firm Sompo Japan Nipponkoa Insurance Incorporation. The company offers around 135 IRDAI approved products across India that includes reliable car insurance plans.

As on March 31, 2016, the company has rendered over 1.6 million insurance policies and has settled more than 1.1 lakh insurance claims. Since the commencement of its operations in 2007, Universal Sompo General Insurance Company has grown well, gaining popularity for delivering customer-oriented car insurance products. Universal Sompo General Insurance features an active network composed of 113 Branches and 17 Zonal Offices. The company claims that its car insurance products are developed based on personalisation and flexibility. Apart from car insurance policies, the company offers policies for health insurance, business insurance, travel insurance, home insurance, and two-wheeler insurance. Furthermore, the company has a praiseworthy after-sale service which helps it keep its car insurance customers satisfied and happy.

Universal Sompo Car Insurance

When it comes to car insurance, Universal Sompo General Insurance offers two types of car insurance plans that comprise a third party car insurance policy and a comprehensive car insurance policy. The former is the basic and compulsory car insurance policy to be carried by every policyholder while driving, which covers your financial liabilities towards a third party arising after an accident with the involvement of the insurer car, while the latter is a policy which is designed to protect the insured as well as his or her car from financial losses and damages after an accident or any mishap such as theft, fire, natural calamity or man-made calamity.

However, to enhance the car insurance policy coverage, one can purchase add-on cover(s), by paying a little extra premium amount, offered by the insurance company to ensure all-round safety when hitting the road. The add-on covers provided by the insurer are nil depreciation cover, return to invoice cover, daily cash allowance cover, key replacement cover, roadside assistance and so on. In addition to these offerings, policyholders can also achieve No Claim Bonus as a reward of completing a policy year without making any claim on their own-damage premium, which they can avail during the renewal of the policy. This discount may accumulate with every claim-free year and range from 20% to maximum of 50%.

Significant Points of Universal Sompo Car Insurance