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  5. Universal Sompo

Universal Sompo Bike Insurance Company

Universal Sompo General Insurance Co. Ltd. is a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank Ltd., Dabur Investment Corporation, and Sompo Japan Insurance Inc. from Japan. The company offers a wide range of insurance products for individuals, rural areas, small businesses, and large companies. The company offers around 135 IRDAI-approved insurance products across India, including bike insurance plans. The company has grown quickly since it started in 2007 and is known for offering customer-friendly bike insurance products. Universal Sompo has 113 branches and 17 zonal offices across the country.

Universal Sompo bike insurance is flexible and can be customized for customer needs. In addition to bike insurance, they also provide health, business, travel, home, and car insurance. The company is known for its excellent customer service, which keeps its customers happy.

Universal SompoThird PartyComprehensiveStandalone Own DamageZero DepreciationClaimRenewalPolicy DownloadCustomer Care

About Universal Sompo Bike Insurance Company

Universal Sompo bike insurance helps protect your bike from fire, theft, accidents, and natural disasters. The insurance comes with good basic coverage and also offers extra options (add-ons) that can give your bike even more protection.

Key Highlights of Universal Sompo Bike Insurance Company

Features Highlights
Network Garages13,500+ cashless garages
Personal Accident CoverUp to Rs. 15 lakh
Claim Settlement AssistanceAvailable 24x7
Add-ons Available
No-Claim Bonus Available

Bike Insurance Plans By Universal Sompo

Types of Universal Sompo Bike Insurance Policies

Universal Sompo General Insurance Company offers four types of bike insurance policies:

  • 01

    Standalone Motor Own Damage Policy

    This policy protects your bike from damage caused by fire, theft, natural disasters, and accidents. It also provides personal accident coverage for the owner-driver, which is required by law.

  • 02

    Third-Party Two-Wheeler Insurance Policy

    This policy covers damage or injuries caused to other people or their property by your bike. It is required by law and is available for up to 5 years.

  • 03

    Bundled Two-Wheeler Insurance Policy

    This policy gives full protection, covering your bike's damage, third-party liabilities, and personal accident risks for the owner-driver. If you don't make any claims during the policy period, you can earn a No Claim Bonus (NCB). It covers third-party liabilities for 5 years and own damages for 1 year, and is available for new bikes.

  • 04

    Two-Wheeler Package Policy

    This is a complete insurance policy that covers bike damage, third-party liabilities, and personal accident coverage for the owner-driver.

Why Choose Universal Sompo Bike Insurance Policy?

Universal Sompo bike insurance is a smart choice to keep your two-wheeler safe. Here are some simple reasons why many people prefer this policy:

  • Affordable premium

    Universal Sompo offers bike insurance at a low and reasonable price. This helps you protect your bike without putting extra pressure on your budget. You get good coverage at a cost that is easy to manage.

  • Easy online purchase and renewal

    You can buy or renew your bike insurance online quickly and easily. The process takes only a few minutes and requires minimal paperwork. This saves your time and effort.

  • Hassle-free claims process

    The claim process is smooth and easy to understand. Universal Sompo tries to settle claims quickly so that you do not face stress during emergencies. Their simple steps make claiming insurance less confusing.

  • Wide network of garages

    Universal Sompo has more than 13,500 partnered garages across India. You can get your bike repaired at these garages without worrying about quality. Cashless repair options are also available at many locations.

  • Extra protection with add-on covers

    You can add extra protection to your bike with add-ons like return-to-invoice cover and depreciation waiver. These add-ons help you get better compensation during major damage or total loss. This gives extra peace of mind.

  • No Claim Bonus (NCB) benefits.

    If you do not make any claim during your policy period, you get a No Claim Bonus at the time of renewal. This bonus helps reduce your premium amount in the next policy term. It rewards safe and careful riding.

  • 24/7 customer support

    Universal Sompo provides customer support at all times, day and night. You can contact them anytime for help with claims, renewals, or any insurance-related questions. This ensures support whenever you need it.

Documents Required to Buy a Universal Sompo Bike Insurance Policy

Documents Required to Buy a Universal Sompo Bike Insurance Policy

  • Copy of the bike’s Registration Certificate (RC)Valid identity proof such as Aadhaar card, PAN card, or Driving LicensePrevious bike insurance policy details (if renewing or changing insurer)Valid driving license of the bike owner (may be required in some cases)Basic bike details like model, registration number, and engine details (for online purchase)

    • How to Buy Universal Sompo Bike Insurance from Square Insurance?

  • Step 1 Visit the Square Insurance website at www.squareinsurance.in.Step 2 Click on “Bike Insurance” under the “Insurance Products” section.Step 3 If you have a new bike, click on “Got a New Two-Wheeler.”Step 4 If you have an old bike, enter your bike’s registration number and click on “View Plans.”Step 5 Fill in basic details like RTO, bike brand, model, variant, and registration year.Step 6 You will see a list of insurance plans from different companies. Compare them and choose the plan from Universal Sompo.Step 7 Pay for the selected plan online. After payment, the policy document will be sent to your email.

FAQs

Universal Sompo Bike Insurance is a policy that protects your bike from damage, theft, and accidents. It also covers losses caused to other people or their property. This insurance helps reduce your financial burden during unexpected events.

Universal Sompo offers third-party bike insurance, own damage cover, bundled bike insurance, and complete package policies. You can choose a policy based on your bike type and usage.

Yes, you can easily buy Universal Sompo bike insurance online. The process is simple, quick, and paperless.

It covers bike damage due to accidents, fire, theft, natural disasters, and man-made events. It also covers third-party injury or property damage.

NCB is a discount on your premium if you do not make any claim during the policy period. The discount increases every claim-free year.

Universal Sompo provides cashless repair and replacement services at its authorised garages. You can take your bike to any of their 13,500+ network garages across the country. At these garages, the insurance company directly pays the repair cost, so you do not need to pay out of your pocket.

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