Universal Sompo Standalone Own Damage Car Insurance

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Universal Sompo standalone car insurance policy provides coverage against losses and damages caused to the insured car due to an accident or other mishaps. Standalone insurance of the insurance company protects the insured in different scenarios such as vandalism, theft, fire, road accident, natural or man-made calamity, etc. It makes sense to opt for Universal Sompo standalone car insurance as the extent of damage due to any of these incidents can be massive. In turn, you will need to pay much more than you could imagine without car insurance. Know more about Universal Sompo standalone car insurance below.

How does Universal Sompo Standalone Car Insurance work?

Universal Sompo standalone four-wheeler insurance is not mandatory by law, but its importance is unquestionable. While you already get covered for third-party liabilities by third-party car insurance, at some point, you may need to protect your car from damages. Therefore, you will need to purchase standalone four-wheeler insurance from insurers such as Universal Sompo.

What’s more, you can buy several add-on covers to enhance the coverage of the Universal Sompo standalone car insurance policy. Hence, if your car is stolen or suffers accidental damage or entire loss on account of irreversible damage, Universal Sompo will compensate you for the loss. 

Universal Sompo Standalone Car Insurance vs Third-Party Car Insurance vs Comprehensive Car Insurance 

AspectsUniversal Sompo Standalone Car Insurance PlanUniversal Sompo Third Party Car Insurance PlanUniversal Sompo Comprehensive Car Insurance Plan
CoverageThe policyholder receives insurance coverage against own damage expenses resulting from theft, road accidents, cyclone, hail storm, flood, etc. It is not mandatory to buy this cover.This policy covers the policyholders only against third- party liabilities like death, property damage, injuries, etc. It is mandatory to have a third-party liability cover in your policy.The policyholder receives holistic insurance coverage against third-party liabilities as well as own damage under a comprehensive insurance policy.
Add-on facilitiesThe policyholder has a wide variety of add-on covers to choose from.The policyholder does not have the option of add-on covers.Many add-on options are there to extend the policy coverage.
CostThe premium is greater compared to a third-party insurance plan as it protects against damages, which can be very hard to pay for without insurance.Here, only basic coverage is offered. So, it is less costly than other policies.It is a costly insurance plan because, under a single plan, protection against third-party liability as well as own damage is given.
Mandatory legal requirementNot mandatory, but an option for the insured to protect a vehicle.It’s mandatory according to the Motor Vehicle Act, 1988.Not mandatory, but an option for the policyholders to protect their vehicles.

What All is Covered Under Universal Sompo Standalone Insurance Plan?

The inclusions are:

  • Damages or losses to the insured car caused by any type of accidents.
  • Losses faced due to theft of the insured car.
  • Damages or losses caused to the insured car by any type of explosion or fire.
  • Damages faced due to man-made or natural disasters.

What All is not Covered Under Universal Sompo Standalone Insurance Plan?

The exclusions are:

  • Accidents happen outside geographical boundaries, as mentioned in the insurance policy document.
  • Accidents happen because of illegal driving/ intoxicated driving.
  • Usual wear and tear of the insured car.
  • Breakdown of the insured car because of mechanical or electrical failure.

debit card, credit card, etc. You can use any of these to pay the premium.

Universal Sompo Standalone Car Insurance Benefits

The benefits of purchasing the Universal Sompo standalone car insurance policy are stated below:

  • This insurance plan offers monetary compensation for damage of the insured car caused by theft, natural calamities, accidents, etc.
  • You can choose from a bunch of add-ons to extend the plan’s coverage.
  • No claim bonus is provided for every claim-free year.

Universal Sompo Standalone Insurance Reviews

Universal Car Sompo offers high coverage at a comparatively cheaper premium. It provides policyholders with multiple online premium payment options - net banking, UPI, wallet, debit card, credit card, etc. You can use any of these to pay the premium.

Universal Sompo Standalone Car Insurance FAQs

  • 1. Where can I find Universal Sompo standalone car insurance proposal form?

  • 2. Can Universal Sompo standalone car insurance be cancelled?

    Yes, the Universal Sompo standalone car insurance policy can be cancelled on account of incorrect details mentioned in the application form, premium payment cheque bounce, etc. These cancellations are more due to the insured’s fault. In case the insured doesn’t want to continue with Universal Sompo standalone car insurance, he/she can apply for the policy cancellation. The insurance company will thus process your policy cancellation request and get it done.

  • 3. Does Universal Sompo send any notice to the policyholder regarding policy cancellation?

    Universal Sompo may cancel the policy by sending a 7-day notice in writing to the policyholder’s last known address. The policyholder will then receive a pro-rata premium refund for the unexpired period of this policy from the date of cancellation.

  • 4. Is Universal Sompo standalone car insurance better than the company’s comprehensive plan ?

    Universal Sompo standalone car insurance premium is lower than that of the company’s comprehensive plan. But that does not mean the standalone plan is better. The enhanced coverage makes a comprehensive plan imperative for policyholders to have. 

  • 4. How can I contact Universal Sompo regarding a standalone own damage insurance policy?

    You can raise your queries to Universal Sompo standalone car insurance customer care representatives by dialing the toll-free numbers available on the insurer’s website.

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