Universal Sompo Car Insurance

• Own Damage Cover: Protection against accident, theft, fire, and natural calamities (as per plan terms)  

Network & Claims 

• Cashless Network Garages: ~2000–3500+ garages (varies by latest updates)  

• Cashless claim facility available at authorised network garages  

Performance Indicators 

• Incurred Claim Ratio (ICR): ~80.66% (financial year-specific)  

• Net Earned Premium: Rs. 454.75 crore (financial year-specific)  

• Third-party coverage limits are regulated under Indian motor insurance rules  

• Network size and financial metrics may change every financial year  

• Actual benefits may vary depending on policy type (Comprehensive, Third Party, or Standalone Own Damage) 

Universal Sompo General Insurance Company Limited is a general insurance company in India that received regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) around 2007 to operate in the Indian insurance market. 

The company is a joint venture between Indian financial institutions, Dabur Investment Corporation, and Sompo Japan Insurance Inc., a global insurance group based in Japan. Over time, the ownership structure of Indian banking partners has evolved due to mergers and changes in shareholding. 

Universal Sompo offers a range of general insurance products including motor insurance, health insurance, property insurance, marine insurance, and liability insurance solutions. Its distribution model includes bancassurance partnerships, agents, brokers, and digital channels across India. 

Universal Sompo has created Car Insurance to provide you with the best level of financial coverage against a loss that may occur due to theft, an accident, a natural disaster or due to a third party legal liability, in accordance with guidelines set out by the Insurance Regulatory Development Authority of India (IRDAI).  

Universal Sompo provides you with insurance for your personal vehicle and some third party's vehicle. Their product offering is focused on three different types of insurance - first for personal property and/or own physical damage to your vehicle, second for third party damage to your vehicle and/or own vehicle (which is required by the law under the Indian Motor Insurance Act) and lastly for the driver of the vehicle (personal accident coverage).  

Each of these products provides some portion of loss protection; however, depending on your choice of your policy type, e.g. comprehensive insurance, only third party coverage, or own physical damage to your vehicle, will determine how much coverage your policy will cover. 

Key Features 

• Cashless claim facility at authorised network garages, subject to survey and approval of claims  

• Wide network of authorised garages across India for repair and servicing support  

• Digital policy management including purchase, renewal, and claim intimation through online channels  

• Assistance through customer care centres, branch offices, and authorised intermediaries 

• No Claim Bonus (NCB) benefits for claim-free policy years, as per applicable terms and conditions

Coverage Details 

Own Damage Cover

Own damage cover protects the insured vehicle against physical loss or damage caused by insured events. These typically include: 

• Accidental damage to the vehicle  

• Fire, explosion, or self-ignition  

• Theft or burglary of the vehicle  

• Natural calamities such as flood, earthquake, cyclone, storm, or landslide  

• Man-made events including riot, strike, vandalism, or malicious acts  

• Transit damage while the vehicle is being transported by road, rail, inland waterway, or air  

Third Party Liability Cover 

Third-party liability insurance is a mandatory requirement under Indian motor insurance law. It provides financial protection against legal liabilities arising from: 

• Injury or death of a third party caused by the insured vehicle  

• Damage to third-party property, subject to limits prescribed under regulatory guidelines  

Personal Accident Cover 

• Mandatory cover for the owner-driver as per IRDAI regulations under motor insurance policies  

• Provides compensation in case of accidental death or permanent total disability arising from a vehicle accident  

• Coverage limits and compensation structure are defined under the policy schedule  

Optional Add-On Covers 

Depending on the selected plan, policyholders may enhance coverage with additional benefits such as: 

• Protection for electrical and non-electrical accessories fitted in the vehicle  

• Legal liability cover for paid driver, cleaner, or other employees working with the vehicle 

• Personal accident cover for passengers travelling in the insured vehicle  

• Increased third-party property damage cover beyond standard limits, where applicable  

Exclusions 

Claims are generally not admissible under the policy in situations such as: 

• Driving without a valid and effective driving licence  

• Driving under the influence of alcohol, drugs, or intoxicating substances  

• Normal wear and tear, ageing, or mechanical/electrical breakdown  

• Use of the vehicle for racing, speed testing, rallies, or illegal activities  

• Loss or damage occurring outside the geographical scope defined in the policy document  

Discounts and Benefits 

Policyholders may be eligible for certain premium benefits, subject to terms and underwriting conditions: 

• No Claim Bonus (NCB) for each claim-free policy year  

• Voluntary deductible discounts, where higher deductibles reduce premium payable 

• Discounts for installation of approved anti-theft devices  

Customer Support and Services 

Universal Sompo provides multiple support channels for policyholders, including: 

• Customer care helpline services for queries and assistance  

• Online grievance redressal system for complaint handling and resolution  

• Branch network and authorised intermediaries for offline support  

• Digital tools for locating network garages and cashless service availability