Universal Sompo Bike Insurance FAQs

The change in premium amount does not depend individually on claims. It depends on other factors like the model of the vehicle, the nature of the policy, etc.

You need to visit the official website of Universal Sompo Insurance Company to download the claim form. The list of cashless garages is also available on the website.

You need to intimate your claim through customer care. You can either call them or send them an email. An intimation can also be made online.

Yes, add-ons are available with the two-wheeler insurance plans like Nil Depreciation cover, Return to Invoice, Daily Cash Allowance benefit, Manufacturer's Selling Price / On Road Price, Loss of Driving License, Additional Accidental Injury Compensation(Owner), Winder PA Benefit (Owner), Accidental Hospitalization cover for Family, Hospital Daily Cash, Additional Accidental Injury Compensation (Family), Driving - Train Protect (Cover for Child parts of Engine, Differential and Gearbox), Cost of Consumables, Roadside Assistance for Two Wheelers, Engine Protector as well as NCB Protector.

Under circumstances where the policyholder does not make any claim, no claim bonus accumulates. The accumulated NCB offers a lucrative discount in the policy premium of two-wheeler insurance if not claimed. The first claim-free NCB can fetch a discount of 20% in the upcoming premium, The maximum NCB that can be availed is 50%.

The incurred claim ratio for motor insurance recorded by Universal Sompo in the financial year 2018-19 is 88%.

The ideal time to renew the two-wheeler insurance policy is before the validity date expires. You earn a reduced premium and continue with the coverage uninterrupted. 

After cheque realization, the insurer generates the policy document and mails it to the registered email address. 

The usual grace period for renewal of the two-wheeler policy is 30 days from the expiry date without losing the insurance coverage. 

The insurer allows you an additional discount on the premium if you install an ARAI-certified anti-theft devise on the insured two-wheeler.

You must choose the add-on covers anew for inclusion in the policy during the renewal process. 

Universal Sompo permits any number of claims during the policy term subject to the conditions of the two-wheeler insurance policy.

You can check the claim status online at the Universal Sompo website by feeding the requisite information in the “Track Status,” including the claim registration number. 

The insurer’s maximum liability for third-party property loss is INR 7.5 lakh. 

You can purchase Universal Sompo’s two-wheeler insurance policy for one, two, and three-year terms. And, for five years in case of first-time buyers.

You get the Universal Sompo two-wheeler insurance claim form in the insurance kit, or you can download it from their website. 

You can access the relevant bike insurance policy document at Universal Sompo’s official website. But first, you must register and feed the insurance policy details to access the policy document online.

Yes, the insurance policy document provides detailed information about the insured two-wheeler. The records include make, model, capacity, engine, and chassis number. 

It is mandatory to show the latest insurance policy document on demand to the police to scrutinize its validity. Accordingly, use the download function for the latest policy document for compliance.

The information displayed on the mParivahan platform summarizes the mandatory documents stating their validity date.   The application displays information about all the required documents. 

No, the soft copy is sufficient to comply with the request. However, you must show the hard copy for failure to display the soft copy of the policy document. 

Add-on is optional in a two-wheeler insurance policy, and accordingly, you can choose according to your risk perception or none if not suitable.  

You can select the Universal Sompo two-wheeler insurance add-on covers online while purchasing or renewing the policy. However, your premium quote depends on the number of chosen add-ons as they invite an additional cost. 

You can reduce the premium through Universal Sompo two-wheeler insurance policy discounts:

• For choosing higher voluntary excess.
• Concessions for the specially adapted vehicles for the benefit of the blind, disabled, and mentally challenged individuals.
• When depreciable parts for replacement are defined.
• Installation of ARAI certified anti-theft devices.

No, it is not obligatory to purchase an add-on cover for your Universal Sompo bike insurance add-ons. However, the choice is yours depending on your requirement and budget. 

The insurer’s financial liability towards the policyholder is up to the Insured Declared Value (IDV) mentioned while purchasing the policy. 

It is best to renew the policy well before the expiry date to prevent losing coverage benefits. 

The only criterion for purchasing the Universal Sompo comprehensive bike insurance policy is that your two-wheeler must first register with the local RTO. 

There are no bars on purchasing add-on covers in the Universal Sompo comprehensive bike insurance policy against an additional premium. 

The third-party two-wheeler insurance policy coverage is limited, and accordingly, the compensation for third-party property damage is a maximum of INR 7.5 lakh. 

You must renew the third-party two-wheeler insurance well before the expiry date to avoid legal and financial penalties while driving. However, you also get a 30-day grace period for renewal, during which the insurance cover is in abeyance. 

Yes, you can transfer your policy from existing insurer to Universal Sompo.  

Yes, you can transfer the two-wheeler insurance to the new bike owner.

The no claim bonus is a reward for adhering to safe driving practices, and it accumulates up to a maximum of 50%. However, the third-party two-wheeler insurance does not provide any no claim bonus facility at renewal. 

You need to choose the zero-dep add-on every time you renew the policy to continue with the facility uninterrupted. 

No, you must buy the own-damage or the comprehensive two-wheeler insurance policy to avail of the zero-dep add-on coverage. 

No, the cost of deductibles will not be covered under this add-on. Else, you get the total or maximum claim amount depending on the terms and conditions of the add-on and meeting the requirements. 

The zero-dep add-on coverage compensates only for the parts depreciation but not for the compulsory deductibles. 

The add-on is available for new bikes and those less than five years old. 

Universal Sompo two-wheeler insurance standalone policyholders stand to gain through a reduced premium in the following.

• Premium discount for opting for a higher voluntary excess.
• Premium discount for installation of ARAI-certified ant theft device on the insured two-wheeler.
• NCB discounts through not making any claim through the policy tenure.
• Particular concession for two-wheelers modified and designed for the visually impaired, physically and mentally challenged individuals. 

There is no bar for purchasing insurance policies from same insurer. 

The depreciation waiver add-on compensates the claim ignoring the depreciation factor to settle the maximum amount minus the compulsory deductibles. 

The best time to renew the Universal Sompo standalone bike insurance policy is before the expiry date to continue with uninterrupted coverage and avoid legal hassles. 

According to the policy document, a total loss means damages where repairs consume 75% of the IDV.