UNIVERSAL SOMPO THIRD PARTY CAR INSURANCE

Universal Sompo’s  Third Party Car Insurance

ABOUT:-

Universal Sompo General Insurance is a joint venture of an Indian bank, Karnataka Bank Ltd, Indian Overseas Bank, Dabur investment corporation, and some Japan Insurance Inc. The company was founded in 2007 and its headquarters is in Mumbai, India.Company deals in various products like health insurance, car insurance, travel insurance, home insurance, etc.

UNIVERSAL SOMPO’S THIRD-PARTY CAR INSURANCE.

As per the Indian tariff, in India, it is mandatory to have at least a third-party car insurance cover. A third-party insurance policy is the most basic and feasible option which offers compensation in case of injury/death of a third party and third-party property damage up to the amt 7.5 lakh. In short, TP covers damages and injuries caused by the insured vehicle to the third person or third person's property.

UNIVERSAL SOMPO’S THIRD-PARTY CAR INSURANCE BENEFITS.

The benefits of third party car insurance in universal sompo are-

1)  Provides legal cover as well as financial Assistance

Universal Sompo’s Third-party car insurance provides legal liability support in case of death or disability to a third person. It also provides coverage for any loss or damage to the third person's property Up to 7.5 lakh. Third-party car insurance protects the owner-driver and provides legal cover to the motor vehicle.

2) Easy and very simple process to take third party car insurance-

Universal Sompo’s Third-party car insurance policies are very easy to access and very easy to buy and renew. Anyone who has sound knowledge of the internet can buy or renew a policy online. The process is very simple and quick as well. Therefore it is easily be availed by anyone at their convenience and time.

3) Unlimited cover to the third party-

In case of an accident that causes bodily injuries or loss of life, the third person cover is unlimited. The amount of compensation is borne by the insurance company once the court decides on the amount.

WHAT IS COVERED UNDER UNIVERSAL SOMPO’S  THIRD-PARTY CAR INSURANCE POLICY?

Universal Sompo’s Third-party car insurance provides legal liability in case of death or disability to any third person. It also provides coverage for any loss or damage to the third person's property. The coverages are:-

1) Property damage- In case your vehicle caused some damage to the property of the third party in an unfortunate accident, then you don't have to worry about the expense arising from the incident. Third-party car insurance ensures that the insurance company will pay for the damages to the third person, and hence the insured can safely step out of this situation of accidents

2) Death- In some situations, if you are involved in an accident, which causes the death of a third party, then you are responsible for this unfortunate event. In such cases, you do not have to worry because your insurer takes care of this matter. In such situations, the claims are settled as per the court tribunals. the court will decide the compensation as per the earning capability of the third party, his age, no of dependents, etc.

 3) Bodily injuries-  Medical coverage is offered for all types of bodily injuries, no matter how intense the injuries of a third party. Universal Sompo insurance company understands that the events are caused unfortunately or unintentionally and these events cannot be controlled .hence the insurer reduces the stress of the insured person by offering them financial support.

4) Unnamed passenger cover- AS an owner of a car, you are responsible to pay for injuries that may come to your passenger. The compensation for the passengers is RS50000, RS100000, and RS200000 per person as per seating capacity.

5) Owner driver cover-

the owner-driver cover also known as personal accident cover is only for the owner-driver .it is up to the amount of 15 lakh.

6) Paid driver cover- Amt of Rs 50 has to be paid as an add-on for buying paid driver cover. in this cover, the insurer pays compensation to your driver in case of death or injury. The compensation depends upon the age, monthly income, and dependants of the driver.

HOW TO PURCHASE UNIVERSAL SOMPO’S  THIRD-PARTY CAR INSURANCE FROM UNIVERSAL SOMPO-

Step 1. Go to the online website of https://quickinsure.co.in/

Step 2. Click on car insurance

Step 3. Enter your REGISTRATION no. According to your RC

Step 4. You will find a quotation for car insurance from cholamandalam and other insurers.

Step 5. You can select the quotation of universal Sampo and fill out the proposal form.

Step 6. Once you verify your information, you click on the "pay now" icon and once the payment is made, you will receive the pdf of your policy on your mail ID.

EXCLUSIONS-

EXCLUSIONS IN UNIVERSAL SOMPO’S  THIRD PARTY POLICY  ARE-;

1) Damages caused to yourself and your vehicle during an accident.

2) Damages that cost more than RS.750000 lakh are also not included in this agreement.

3) Third-party car insurance also does not provide any compensation if there is a drink and drive case and the vehicle was used for any commercial purpose or illegal activities

4)Any damage due to terror attack, war, foreign enemy action, civil war, Mutiny To Your Car Are Not Covered Under A Standard Motor Policy.

THIRD-PARTY CAR INSURANCE SLABS;

Description of vehicle	Proposed Rates (FY 2021-22) Rs.
Private cars with engine capacity
Not exceeding 1000 cc	2,094
Exceeding 1000 cc but not exceeding 1500 cc	3,416
Exceeding 1500 cc	7,897

FAQ,s

1. What is the basic meaning of third-party car insurance of Universal sompo?

 Insurance in which a policy is purchased by the insured, from the insurance company, for protection from the claims of another third party.

2)How can I buy Universal Sompo’S third-party car insurance?

you can buy Universal Sompo’S  third party car insurance through quickinsure insurance brokers online from  https://quickinsure.co.in/

By following the following steps-:

Step 1. Go to the online website of https://quickinsure.co.in/

Step 2. Click on car insurance

Step 3. Enter your REGISTRATION no. According to your RC

Step 4. You will find a quotation for car insurance from Universal Sompo’s and other insurers.

Step 5. You can select the quotation of Universal Sompo’s and fill out the proposal form.

Step 6. Once you verify your information, you click on the "pay now" icon and once the payment is made, you will receive the pdf of your policy on your mail ID.

3) What is an easy mode for buying third-party car insurance in Universal Sompo?

The online method is the most common use mode of buying third-party car insurance.

You can buy Universal Sompo’s  third party car insurance through quickinsure insurance  brokers Pvt Ltd. https://quickinsure.co.in/

4)What is not covered under universal sompo’s third-party car insurance policy?

 i)  Any damage due to terror attack, war, foreign enemy action, civil

 war, or mutiny to your car is not covered under a standard motor policy.

ii) If the driver was found driving under influence of a drug or also, then it also does not cover

5)Is universal sompo a private company?

Universal sompo general insurance is a joint venture of an Indian bank, Karnataka

 bank Ltd, overseas bank, Dabur investment corporation, and sompo japan

 insurance Inc.