UNIVERSAL SOMPO TWO WHEELER INSURANCE ADDONS

Universal Sompo offers a variety of optional coverage options that you can choose from when purchasing or renewing your policy. Buy New India two-wheeler insurance addon covers with your policy to enhance your bike’s insurance coverage.

Depreciation Waiver or Nil Depreciation Cover

In the event of a partial loss claim for the repair of your bike, this add-on cover will come to your rescue. In such circumstances, no depreciation will be taken into account when calculating the amount of your claim using this add-on benefit. This coverage is available by paying an additional premium. Calculate the total premium here.

Return to Invoice

If the insured bike is damaged beyond repair as a result of an accident or if it is stolen, with this add-on, instead of receiving the IDV as a claim amount, the policyholder is eligible to receive the invoice value of the bike.

Daily Cash Allowance Benefit

This coverage is going to be useful when your bike is being repaired in an authorized garage or workshop due to an accident. This is only applicable to two-wheelers that are under five years old.

Insurance at Manufacturers’ Selling Price

With this add-on cover, the insurer will pay the ‘difference amount’ (between the Manufacturing Selling Price and Insured Declared Value) in the event of a Total Theft or Total Loss.  The add-on is available for vehicles of age less than 60 months counting from the date of invoice or date of registration of the vehicle, whichever is earlier.

Loss of Driving License/ Registration Certification

With this cover, if the insured suffers a loss of their Original Driving License or the Original Registration Certificate, the insurer will provide compensation of up to ₹500 to obtain a duplicate License or RC. An F.I.R. needs to be filed with the police in case of such a loss.

Additional Accidental Injury Compensation Clause for Owner-Driver

This add-on benefit covers you for an amount up to ₹8,00,000 lakh (in multiples of ₹1,00,000) against accidental injury leading to permanent total disablement or death in an accident when driving the insured bike. This is in addition to the Compulsory Personal Accident (CPA) cover for Owner Driver available under the Policy.

Additional Accidental Injury Compensation Clause for Family

This add-on protects your family member in case of bodily injury due to an accident that involves the insured vehicle and leads to death or permanent partial disability or permanent total disability.  This is covered up to ₹5,00,000.

Wider PA Benefit Clause for Owner-Driver

Whether you are riding the covered two-wheeler or not, the add-on cover offers you protection at all times in event of risks, assaults, or bodily injury that result in death or permanent total loss in the event of an accident.

Accidental Hospitalization Clause for Family

The insurer will reimburse the charges of inpatient hospitalization expenses incurred for accidental injuries suffered whilst traveling in the insured vehicle only. The cover is available as a single limit for all the named family members. This is covered up to ₹5,00,000.

Hospital Daily Cash Cover

This benefit can be availed only in case of in-patient hospitalization as a result of an accident involving the insured bike. The insurer offers you a daily cash benefit of ₹2,000 per day of hospitalization up to a maximum of 30 days.

Driving Train Protect

With this add-on, the insurer will cover any consequential damage to the internal child parts of the engine, and gearbox of the insured vehicle, arising out of water ingress or leakage of lubricating oil.

Cost of Consumables

When it comes to vehicles, consumables are items or parts which cannot be reused. Examples of consumables include – engine oil, oil filter, lubricants, nuts & bolts, bearings, etc. Having a consumables cover prevents you from incurring these expenses during repairs and claims.

Road Side Assistance

If your bike or scooter breaks down or is involved in an accident, the roadside assistance add-on can cover you for battery jump-starts, towing, emergency fuel delivery, flat tire or minor repairs, a hotel stay, or even a taxi journey.

Child Education Support Clause

Universal Sompo will pay for the education fee of the dependent child/children of the owner insured in the case the owner of the insured vehicle meets with accidental death or permanent total disability. This is subject to the dependent being under the age of 21 years and pursuing studies. The claim proceeds of this benefit shall be remitted in a bank account of the child.

Frequently Asked Questions

1. When can I buy Universal Sompo bike insurance add-on coverage and include them in my plan?

You can purchase Universal Sompobike insurance add-ons when purchasing the insurance cover or when renewing your bike’s insurance policy.

2. Is it ok to not file a claim if the harm is minor?

It is preferable not to file a claim for minor repairs. As a result of not filing any claims throughout the policy period, you will receive a No Claim Bonus discount on your next year’s premium.

3. Is it possible to purchase additional coverage with a third-party bike insurance policy?

No. Add-on coverage can be purchased with either a standalone own damage policy or a comprehensive insurance policy, but not with a third-party bike insurance policy.

4. What is Insured Declared Value?

Insured Declared Value or IDV of a two-wheeler is the maximum sum assured fixed by the insured at the beginning of each policy period of the insured vehicle.

5. What factors influence the cost of a two-wheeler insurance 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.