Two-wheeler insurance is an insurance policy that covers you against damages to your two-wheeler due to accidents, natural/man-made disasters, fire, and theft. The policy also provides law-mandated coverage against third-party liabilities such as damage to another person’s vehicle/property or injuries/death of a third party caused due to the insured two-wheeler. When it comes to two-wheeler insurance plans, Universal Sompo and United India General Insurance companies are worth mentioning. Both companies offer two types of bike insurance policies. They have multiple other online facilities such as online buying, registering online claims, online renewal, etc., which make the experience of the customers more beautiful. To know more about these policies and their differences, have a look at the following mentions.
Comparison Between Universal Sompo Two-Wheeler and United Two-Wheeler Insurance
The following table gives you an idea about these two bike insurance plans and their differences.
|Parameters||Universal Two-Wheeler Insurance||United Two-Wheeler Insurance|
|Type of plans|
|Theft||Covered||This can be covered on payment of an additional premium at 3% of the IDV of such accessories.|
|Contractual Liability||Not payable||Not payable|
|Personal accident cover for the owner-driver||Available||Yes, available|
|Claim settlement ratio as per the Annual Report of IRDAI 2021-22 (Motor Insurance)||91.32%||98.90%|
|Accidental hospitalization clause for family||Available as an add-on cover||Not available|
|Insurance at the manufacturer’s selling price||Available as an additional benefit||Not available|
|Protection against natural calamity||Payable under a comprehensive policy||Available under a package policy|
|Secure towing (higher towing and removable cost)||Can be purchased as an additional benefit||Covered up to a certain limit|
|Deductible||Applicable for both policies||Applicable|
|Damage due to radioactivity||Not covered||Not payable|
What is Universal Sompo Two-Wheeler Insurance?
Universal Sompo Two-Wheeler Insurance has come up with an affordable premium rate and a strong network of garages so that in time of need, one can find a cashless garage within his/her vicinity. The company offers a bundle of add-on covers that can be purchased by paying a little extra premium to strengthen the bike policy. One can also get the insurance at the manufacturer’s selling price, which makes it unique, but this facility has to be purchased separately. The comprehensive policy offers discounts for opting for higher voluntary excess.
Know About United India Two-Wheeler Insurance
Over the years, the two-wheeler policies of United India General Insurance have been serving the customers faithfully. The package policy of the company is a comprehensive bike insurance plan that offers complete protection against almost all kinds of road risks. Another policy, a third-party liability-only policy, is also available with the insurer, which is a mandatory one. One can get many other services on payment of extra premium.
What are the key highlights of Universal Sompo Two-Wheeler Insurance?
The following benefits and facilities are available under this insurer.
This policy provides protection against burglary, robbery, and other types of theft that can cause a huge financial loss.
This plan compensates you for any losses incurred from automated combustion or combustion that occurs without the use of any external heat source.
This protects you against practically all-natural disasters and calamities, such as floods, earthquakes, hurricanes, etc, which can cause considerable damage.
Roal, Rail, Inland Waterway:
This plan includes road, rail, inland waterways, air transit, malicious act, accidental external means, and strike.
The company offers twelve add-on covers that can be purchased by paying a little extra premium amount to strengthen the policy, such as key replacement clause, roadside assistance, depreciation waiver, return to invoice, daily cash allowance benefit, etc.
The company has come up with a number of cashless garages so that customers can find one easily within his/her vicinity. One can also use the online garage locator facility, available on their official website, to find out the nearest network garage.
The company offers paperless intimation of claims. One can successfully avail of the claim facility within just three steps.
The company is a well-connected in pan India. Their customer executives are always there to have your back.
Major Benefits of United India Two-Wheeler Insurance
The key benefits are as follows.
Personal Accident Cover:
This policy provides complete coverage for insured members against unforeseen events such as accidents.
Damage that occurred due to a riot, strike, or any other manmade malicious act will be covered by this policy.
Loss or Damage To Accessories by Burglary:
In the case of two-wheelers, this can be covered on payment of an additional premium at 3% of the IDV of such accessories.
If the two-wheeler is disabled in an accident, then the cost of the removal to the nearest garage and the cost of reasonable repairs immediately necessary are provided.
This offers complete protection against third-party liabilities. This policy can be purchased separately, or else it is an in-built cover of the package policy.
The company offers both cashless and reimbursement claim procedures. For a cashless facility, you have to take the bike to one of the network garages of the company.
The company is well-connected to its customers through various mediums. Their customer service is also open 24/7. So, whenever you need company, you will get them by your side.
One can extend the geographical area of the coverage of the policy by paying a little extra premium. This will include Bangladesh, Nepal, Bhutan, Pakistan, Sri Lanka, and Maldives.
Universal Sompo Two-Wheeler or United India Two-Wheeler Insurance- Which one to go for?
Universal Two-Wheeler and United Two-Wheeler Insurance have a variety of benefits that help the customers pick the right one as per their needs. Both of them have come up with some unique features that have made them popular among customers. Therefore, it will be an injustice to choose any particular one as better because their fruitfulness depends on the customers and their needs. While both companies are good enough to offer enough protection to the customers as per their needs, both of them have come up with certain general and unique exclusions for which they do not offer any benefit. It would be advisable to go through the exclusions carefully and read the policy document religiously to understand the policies and invest as per your needs.