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The Universal Third party bike Insurance policy
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.
Key benefits of buying The Universal sompo third party bike insurance policy.
Third-party liability is mandatory in India, Hence buying the policy is needed and insured himself cost arising from a third party.
The IRDAI publishes annual rates for third-party bike insurance premiums which depend upon the cubic capacity of bikes.
If your covered bike causes damage to a third-party vehicle or property as a result of an accident, Universal’s third-party bike insurance covers these costs.
Online buying and renewing policy available
Coverage under The Universal sompo Insurance tp bike insurance Policy-
-The majority of organizations now offer a PA protection plan in addition to TP insurance. Under these terms, the owner of the car is covered up to 15 lac in the event of the death of the owner-driver.
-Legal court fights arising from accidents, can be settled by the court.
-Free from financial burden arising from third-party accidents.
-Up to 1lacicoverage for third-party property damage.
How to purchase Third party bike insurance from Universal sompo Insurance?
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 The Universal sompo insurance and other insurers.
Step 5. You can select the quotation of The Universal sompo insurance and fill out the proposal form.
Step 6. Pay the premium amount and get your policy on your Email.
Exclusions in The Universal sompo Insurance TP bike insurance policy.
Claims which are arising from the mechanical, electrical breakdown of a vehicle are not covered under TP policy.
The insurance company will deny the claim if the vehicle's insurance was expired at the time of the accident.
the liability-only plan excludes coverage for normal wear and tear of the vehicle as it ages, consequential damages.
driving outside of established geographic restrictions.
1)Who is eligible to buy third bike insurance in India?
Anyone with valid age and driving license will be able to buy TP insurance.
2)Is third-party premium rates are high.
No, third-party premium rates are not that high and affordable.
3)What if I don’t have third-party insurance for my bike?
If any accident happens with a third party, you are liable to pay for his expenses and medicals.
4)Can I get any discount on the premiums of the tp policy.
No, Tp policy rates are decided by the government, Hence prices are fixed.
5)What is meant by the third party in TP insurance?
A policy that covers losses of a third party only is considered as a third party.