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The Universal sompo ComprehensiveBike Insurance policy-
Universal sompo company is a joint venture between an Indian bank, an Indian overseas bank, Karnatak bank, Dabur Investment Corporation, and a leading general insurer from Japan, Sompo insurance japan. It has 17 Zonal Offices, 86 Branch Offices, and a workforce of 1500 to service its clients around the nation. It provides a diverse range of products to customers in the field of insurance.
What is meant by The Universal sompo comprehensive bike insurance?
Insurance which combinable covers liabilities of a third party as well as 1st party or the own damage called Universal Sompo Comprehensive bike insurance. Both liabilities such as 3rd party and own damage. The policy also provides PA cover up to 15 lac.
Key benefits of buying The Universal sompo comprehensive bike insurance policy?
-Company provides the best Premium plans at affordable rates.
-Company offers a strong network of garages across India.
-Useful Add covers for providing better service to policyholders.
-24*7 customer assistance service.
Coverage in The Universal sompo comprehensive bike insurance Policy-
-Policy covers damages\losses to your vehicle in case of fire.
- Policy covers damages\losses to your vehicle in case of an accident.
- Policy covers damages\losses due to natural calamities.
-Provision for no claim bonus For better discounts.
-PA covers up to 15 lac for the benefit of the owner-driver.
How to purchase Third party bike insurance for The Universal Sompo?
Step 1. Go to the online website of https://quickinsure.co.in/
Step 2. Click on bike insurance
Step 3. Enter your REGISTRATION no. According to your RC
Step 4. You will find a quotation for bike insurance from Universal Sompo insurance and other insurers.
Step 5. You can select the quotation of The Universal sompo and fill out the proposal form.
Step 6. Pay the premium amount and get your policy on your email.
Exclusions in The Universal sompo Comprehensive bike insurance policy.
-Normal wear and tear of the vehicle because of the aging of the vehicle.
-Depreciation of the bike.
-Breakdown of mechanical and electrical parts of the vehicle.
-If a vehicle is used for other than the stated purpose.
-Wear and tear on consumables such as tires and tubes, unless the vehicle is also damaged, in which case the company's obligation is restricted to 50% of the cost of replacement.
'What is IDV?
Insured Declared Value is the full form of IDV. IDV is the present market value of your vehicle. The depreciation factor reduces the IDV of the bike every year.
= Manufacturers listed selling price-Depreciation
-What is a No Claim Bonus in Universal sompo insurance?
A No Claim Bonus, often known as an NCB, is a Discount granted by an insurance company to an insured for not filing any claims during the policy year.
-Do I need to inspect my bike for insurance?
Two-wheeler bikes never need an inspection.
-How IDV is decided?
Initially, IDV will be fixed based on the Manufacturer's listed Selling Price and will be adjusted for depreciation at each renewal.
-Why I should choose a comprehensive policy over a third-party policy?
The comprehensive policy includes both third-party and own damage losses, hence you should choose a comprehensive policy that covers third-party policy.
-For how much time after the expiry of the policy you will be eligible for an NCB discount.
For 90 days of the expiry of the policy, you will be eligible for an NCB discount.