Universal Sompo Third Party Bike Insurance

Benefits of Buying Universal Sompo Third Party Bike Insurance

Take a look at the key benefits of buying a Universal Sompo third party Bike insurance policy:

• Provides financial assistance to the bike owner to cover third party liabilities resulting from a mishap or an unfortunate accident
• Fulfils the mandatory requirement of covering every two wheeler with third party insurance cover.
• Universal Sompo third-party bike insurance can be easily purchased online within a few minutes.
• The customer care team offers round the clock claim assistance.
• The premium for the Universal Sompo Bike Insurance Third Party cover is relatively low and affordable.
• Comes with more than 3500 network garages offering cashless repair facilities.
• More than 90% of the Universal Sompo bike insurance third party policy claims are settled.

Universal Sompo Third Party Vs. Comprehensive Bike Insurance Plan

Check out the basic differences between the third party and comprehensive two wheeler insurance by Universal Sompo General Insurance Company Limited:

What is covered under the Universal Sompo Third Party Insurance Plan?

A third party bike insurance plan comes with an assurance to cover the third-party liabilities. Take a look at the coverage offered by the Universal Sompo third-party insurance policy:

• Third Party Property Damages– It provides financial aid to the policyholder to pay compensation to the third party for causing property damages by the insured two wheeler in an accident. It covers third party liabilities and property damages up to Rs 7.5 lakh.
• Third Party Bodily Injuries- The Universal Sompo third party insurance also covers bodily injuries, disability, or unfortunate demise of the policyholder resulting from an accident of the insured two-wheeler. The compensation amount is decided by the Motor Accidents Claims Tribunal after the case proceedings and thus, the insurer provides unlimited coverage.
• Personal Accident Cover– It provides coverage against accidental injuries or death of the policyholder arising out of an accident of the insured bike. The insurer provides the mandatory cover of Rs 15 lakh.

What is Not Covered under the Universal Sompo Third Party Insurance Plan?

The following expenses are not covered by the Universal Sompo third party bike insurance plan:

• Own Damages -If the insured two-wheeler is damaged in an unforeseen incident, it will not be included in the coverage.
• Depreciation - The depreciation on the value of the two wheeler is considered while estimating it’s Insured Declared Value (IDV).
• Geographical Limit– It does not provide coverage for any accident that occurred outside the geographical limit.
• Normal Wear & Tear– Any expenses arising out of the normal wear and tear of the bike is not covered.
• Drunk Driving– It does coverage for any claims arising out of driving the two wheeler in a drunken condition.
• Illegal Driving– Claims resulting from driving without a driver’s license or using the bike for illegal purposes are excluded.

Universal Sompo Third Party Bike Insurance FAQs