Brand new Bike
It is not a good idea to let your insurance policy lapse. Renew it, before it expires. You can also renew it within 90 days of the last renewal date if you missed it. If you do not renew your policy within 90 days of its expiration date, you will forfeit your NCB benefit.
The No Claim Bonus rate is calculated as follows:
The amount that a policy buyer must pay to insure their two-wheeler under their own damage insurance plan is referred to as the own damage premium amount. Know more about Universal Sompo Standalone Own Damage policy and premiums here.
Different add-on covers are available at different rates. You can check the cost of add-ons and effective total premium in a few clicks here.Our experts at Quickinsure will help you select the addon plans that suit your needs. Get in touch right away!
You can purchase Universal Sompo bike insurance add-ons when purchasing the insurance cover or when renewing the insurance policy.
There is no limit to the number of add-on covers you want to buy with your policy. You can buy any number of add-ons that you think are beneficial for you.
IDV stands for Insured Declared Value, which is the total value of an insured bike determined by the insurer in order to compensate the policyholder in the event of irreparable damage or total loss due to an unforeseen occurrence or theft.
NCB stands for No Claim Bonus. NCB is a reward for each claim-free year. This reward is in the form of a discount on next year’s own damage premium.
No. Add-on coverage is available with either standalone own damage or comprehensive bike insurance policy, not with a third-party policy.
The cost of bike insurance is determined by the engine's cubic capacity, model type, geographical zone, age of the two-wheeler, and the vehicle's IDV.
11. Can I buy Zero Depreciation cover for my used bike?
Yes, you can get the zero-depreciation add-on cover for your used bike as long as it is under 5 years old. The insurer might conduct an inspection to check that the bike is in good order so that add-on coverage can be added to your policy.
Universal Sompo provides a wide variety of add-on coverage options to choose from. These include: return to invoice, roadside assistance, depreciation waiver, consumables cover, and many more. Read about Universal Sompo two-wheeler insurance addons here.
Yes, if you are selling your two-wheeler, you can transfer the two-wheeler insurance policy in the name of the new owner within a period of 15 days.
Types of two-wheeler insurance policies are third-party, comprehensive, and stand-alone own damage policies.
No, if you don't have an invalid driver's license, you won't be able to file a claim.