Kotak Mahindra and Universal Sompo are two of the most popular car insurance companies. They were in the industry for over a decade and offer multiple products. Their services have been compared because they provide similar offers in terms of cost, coverage, etc.
Kotak Mahindra Car Insurance is an Indian insurance company that offers affordable car insurance policies for its customers. It also provides some unique features which make it stand out from other companies in the market. Universal Sompo Car Insurance is a leading car insurance company that offers a wide range of insurance plans. It also provides an innovative approach to selling policies to customers, with the help of technology.
There are many different cover options available through these two insurance companies. Kotak Mahindra provides a dedicated customer service team, easy claim processes, and a fantastic experience all-round. Another option is Universal Sompo Car Insurance which offers an expansive range of cover options, highly knowledgeable claims advisors, and reliable service overall.
| Key Features |
Kotak Mahindra Car Insurance |
Universal Sompo Car Insurance |
| Premium |
- Under 1,000 cc. Rs. 5,268. Rs. 2,072
- 1,000 cc and 1,500 cc. Rs. 9,534. Rs. 3,221
- Above 1,500 cc. Rs. 24,305.
|
Starts at Rs. 2094 |
| No Claim Bonus (NCB) |
Up to 50% discount |
Up to 50% discount |
| Claim Assistance |
24x7 Emergency Assistance |
Quick & hassle-free |
| Easy Claims |
Digitally enabled through Kotak Mahindra Car Insurance |
Instant Motor Claims through IL Take care app |
| Accessibility |
Online through
PolicyBachat & Kotak Mahindra Website. |
Online through
PolicyBachat & IFFCO TOKIO Website. |
Choosing the best car insurance company is not a huge task. But you need to be aware of the kind of protection you want for your car. With that, here are a few tips that will help you choose the top car insurance company in India. Take a look:
- Analyzing your car insurance needs
- The authenticity of the car insurance company
- Financial ability of the company
- Third party liability coverage
- Claim settlement ratio
- Cashless garage network
- Good customer service.
| Differences |
Kotak Car Insurance |
Universal Sompo Car Insurance |
| Cashless Network Garages |
3000+ |
4600+ |
| Claim Settlement Ratio |
74.64% |
87.96% |
| Solvency Ratio |
1.95 |
1.90 |
| Claims settled |
2.3 lakhs |
1.11 lakhs |
| Branches |
100+ |
86+ |
*The premiums are displayed according to your details, compare the quotes and buy the policy according to your needs and budget.*
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Kotak Mahindra Car Insurance:
With a kotak Car insurance policy, you can protect yourself and your car from any financial loss and damage. A comprehensive car insurance policy will cover all the damages caused to you, your vehicle, and the third party damages caused by the accident. Buying a Kotak car insurance policy ensures your all-around safety every time you hit the road.
Kotak Mahindra General Insurance Company is a subsidiary of Kotak Mahindra Bank Ltd started its operations in 2003. Kotak Mahindra general insurance company incepted in 2015, during the year Kotak Mahindra received 6 lakhs premium and incurred a claim amount of 26 Lakhs. Kotak Mahindra General Insurance has resolved the claim within 6 months. Kotak Mahindra insurance company's commitment to providing insurance claims proves the reliability of the company.
| What is Covered? |
- Enjoy enhanced protection with Kotak Car Secure to compensate for both first-party and third-party damage
- You can rely on our around-the-clock assistance for any minor or major situation
- Get the benefit of a maximum of 50% No Bonus Claim
- Complete protection due to natural calamities like fire, explosion, lightning, earthquake, flood, etc., or damages caused due to man-made calamities like burglary, theft, riot, strike, malicious act, accident, etc.
- Comprehensive cover provides protection against damages related to all electrical and non-electrical accessories as well as the bi-fuel system of the vehicle.
|
| Types of policies |
- Private car insurance policy
- Third party car insurance
- Comprehensive car insurance
- Personal accident cover.
|
| Add-ons/Riders |
- Depreciation cover
- Consumables cover
- Return to invoice
- Tyre protection cover
- Daily car allowance
- Loss of personal belongings
- Roadside assistance.
|
*Know about Kotak Mahindra Car Insurance benefits and coverages in this Article*
Know More
Universal Sompo Car Insurance:
Universal Sompo is the first public-private General Insurance Corporation. The cost of Universal Sompo car insurance varies depending on the type of policy that you choose to buy. A car insurance policy offers aid to the car owner if he/she meets with an accident that causes damage to the car. Universal Sompo car insurance plans not only cover damages but also have a compulsory personal accident cover.
Universal Sompo Car Insurance is a comprehensive car insurance package offered by Universal Sompo General Insurance Company Limited. The insurer offers private as well as commercial insurance under its four-wheeler banner. The private car package covers loss arising out of manmade and natural calamities, legal liability to third party personal injury and property damage, and compulsory Personal Accident cover for owner drivers. You can also avail of a discount for opting for higher voluntary excess.
| What is Covered? |
The motor private car insurance policy covers:-
- Fire
- Explosion
- Natural disasters
- Self-ignition
- Theft
- Personal accident
- Theft
- Road, rail, inland waterway.
- Affordable premiums
- A strong network of garages
- 24x7 assistance.
|
| Types of policies |
- Motor private car insurance policy
- Comprehensive car insurance
- Third party car insurance.
|
| Add-ons/Riders |
- Depreciation waiver
- Return to invoice
- Loss of personal belongings
- Engine protector
- Roadside assistance cover
- Hospital daily cash
- Cost of consumables
- NCB Protector
- Tyre and Rim secure
- Loss of Driving license
- Accidental hospitalization
- Daily Cash allowance
- Secure Towing
- Key Replacement clause.
|
*Know about Universal Sompo Car Insurance benefits and coverages in this Article*
Know More
Comparison between Benefits, Features, and More of Kotak Mahindra Car Insurance vs Universal Sompo Car Insurance:
We compared Kotak Mahindra Car Insurance with Universal Sompo Car Insurance, in detail. You can rest assured that you're making the right decision. However, they are different in some ways. This article will give you an idea of what the policies are like the pros and cons, and how they compare to one another.
| Differences |
Kotak Mahindra Car Insurance |
Universal Sompo Car Insurance |
| Benefits |
- Customized products and services
- High claim ratio settlement
- Digital infrastructure
- Efficient processing of claim settlement
- Customer-centric ratio
- Extensive range of add-ons to choose
- The easy and fast documentation process
- Reliable and efficient service
- To secure from unexpected financial loss and mishap
- Own damage partial or total loss
- Covers you from natural calamities, and man-made calamities
- Personal accident cover
- Third-party legal liability.
|
- Possess authentic and prestigious certifications
- Allows its policyholders to raise unlimited claims
- Provides third party as well as comprehensive plan
- Holds a strong network of more than 3,500 garages
- 24x7 emergency assistance is provided to policyholders
- A robust customer support system to resolve their queries.
|
| Features |
- Customized products and services
- High claim ratio settlement
- Digital framework
- Comprehensive coverage and personal accident cover.
- Efficient processing of claim settlement
- Customer-centric ratio
- Extensive range of add-ons to choose
- Long term coverage
- The easy and fast documentation process
- Reliable and efficient service.
|
- Quick claim settlement
- Instantaneous purchase
- Wide range of add-ons
- Third party liability
- Personal accident cover
- Loss due to natural calamities
- Loss due to man-made calamities.
|
| Highlights |
- No claim bonus discount up to 50%
- Opt for voluntary deductible
- Membership of AAI
- Quick and hassle-free claim assistance
- Reliable customer support.
|
- Universal Sompo’s car insurance policy offers a comprehensive scope of coverage. There are inbuilt coverage benefits, add-ons as well as optional extensions so that you can customize your policy as per your preference and enjoy the widest scope of coverage.
- The company has settled more than 90% of its claims successfully. This enhances Universal Sompo car insurance’s Claim Settlement Ratio and bolsters trust in the company.
- Attractive discounts are allowed by the Universal Sompo car insurance plan thereby making the premiums affordable in your pockets.
|
Difference between more coverages of Kotak Mahindra Vs Universal Sompo Car Insurance:
| Coverages |
Kotak Mahindra Car Insurance |
Universal Sompo Car Insurance |
| Theft of the Car |
|
|
| Damages due to natural disasters |
|
|
| Damages due to man-made calamities |
|
|
| Damages due to fire |
|
|
| Damages caused to the car by accident |
|
|
| Third-Party liability cover |
|
|
| Personal Accident Cover |
|
|
Conclusion:
To protect against unfortunate financial consequences, it is a good idea to get an insurance policy. Make sure you compare Kotak Mahindra vs Universal Sompo features and benefits before deciding which company to go with.
Configure the premium with the benefits availed on Kotak vs Universal Sompo, and compare top car insurance company quotes from top insurers online on PolicyBachat. Get the top carrier quotes to distinguish the best insurance plan in terms of premium, coverage, and holding experience in the insurance sector. At PolicyBachat, a user can buy/renew a car insurance policy in simple easy steps instantly.
Every car insurance company will offer different coverage types and various additional benefits. We've highlighted the information you need to know and selected some of the popular providers to compare. Choose the one that suits your required needs and budget.