UNIVERSAL SOMPO GENERAL STANDALONE BIKE

Universal Sompo General Insurance Company Stand Alone Own Damage 2 wheeler policy

Universal Sompo is a joint venture between Indian Bank, Indian overseas bank, KarnatakaBank, Dabur Investment Corporation, and Sompo, A leading Insurer from Japan. It provides a diverse range of products to customers in the field of insurance.

Universal Sompo Stand Alone Own DamageBike Policy

One may only purchase a SAOD policy if they already have third-party coverage. Third-party obligations are not covered by the SAOD insurance. The coverage protects the policyholder from damages such as fire, theft, roadside accidents, man-made disasters, and natural disasters.

Benefits of buying Stand Alone Own Damage policy from Universal Sompo

• Policy covers natural catastrophes, vandalism, and accidents
• Policy covers destruction, and theft
• Wide range of addon covers available for purchase
• Earn NCB on each claim-free year
• Easy renewals and quick claim support
• Affordable premiums

How to purchase Stand Alone Own Damage Policy from universal Sompo

1. Visit the Quickinsure website from your browser
2. Click on the ‘2 wheeler insurance’ icon on your screen
3. Enter your vehicle registration number as per the Registration Certificate
4. Next, compare quotations from various insurers and select the best fit for your needs
5. Fill out the proposal form carefully and verify all details
6. Complete the payment directly to the insurer and your policy will instantly be in your inbox!

Experts at Quickinsure are trained to help you choose the plan that suits your needs. Get in touch today!

 Coverage of Stand Alone Own Damage Policy universal Sompo

• In the event of an accident or collision, this policy pays for the damages to your vehicle.
• In the unfortunate event that your vehicle is stolen, the policy covers this loss.
• If your vehicle is damaged as a result of the fire. It is covered by your damage insurance.

Exclusions under Stand-Alone Own Damage Policy in Universal Sompo

• Third-party liabilities
• Driving drunk
• Driving without a license
• Consequential damages
• Contributory negligence
• Driving without a license holder

Frequently Asked Questions

1. What is a premium-bearing endorsement?

An endorsement for which additional premiums are charged is referred to as a premium-bearing endorsement.

2. What are the types of two-wheeler insurance policies according to the Motor Tariff Act?

There are three types of two-wheeler insurance policy comprehensive two-wheeler insurance, Third party two-wheeler insurance, and Stand-Alone own damage insurance.

3. Is own damage insurance the same as comprehensive insurance?

No, SAOD policy covers only own damage losses but comprehensive policy covers both third parties as well as own damage losses.

4. What are the documents required to renew my bike insurance policy?

You need your previous insurance company’s copy and registration certificate of the bike.

5. What is depreciation covered in two-wheeler insurance?

Depreciation cover provides the insured with the benefit of full financial protection in case of replacement of parts without taking into consideration any deductions for depreciation for two-wheeler parts.