Universal Sompo Home Insurance
Universal Sompo Home Insurance
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Universal Sompo Home Insurance

Established in November 2007, Universal Sompo General Insurance is a joint venture between Indian Overseas Bank, Indian Bank, Karnataka Bank Ltd, Dabur Investment Corporation, and Sompo Japan Insurance Inc., a leading general insurer from Japan. It is headquartered in Mumbai and provides a wide range of products spanning health, loan security, motor, commercial, bancassurance, cattle, and home insurance. As of 2019-20, throughout the country, it has 86 branch offices, 17 zonal offices, and a large employee workforce, who serve their customers through its basket of 135 IRDAI-approved products.

Universal Sompo Householder's Package Policy

Universal Sompo provides a home insurance policy through its 'Householder's Package', which provides complete protection to a homeowner. The ultimate benefit of this policy is that the components that are usually covered in separate policies are combined together in this policy. All the assets of an insured's house are covered on a reinstatement value basis. The policy provides protection to the assets of an individual's house through the following sections:


  1. Section 1: Building & Contents - Fire and Allied Perils
  2. Section 2: Burglary & Theft
  3. Section 3: All Risk (Jewellery & Valuables)
  4. Section 4: Plate Glass
  5. Section 5: Breakdown of Domestic Appliances
  6. Section 6: Electronic Equipment Insurance
  7. Section 7: Personal Accident
  8. Section 8: Baggage Insurance
  9. Section 9: Workmen's Compensation
  10. Section 10: Public Liability


  1. The policy provides adequate financial cover to the building and the household contents of the insured damaged by sudden, unintended, visible, and external accidents like terrorist attacks, natural disasters, fire, etc.
  2. In an event of the total loss of the assets, the company will compensate the amount needed to restore or replace the asset to its previous condition. Similarly, in case of partial losses, if the asset can be repaired at a cost lesser than the replacement cost, the company will compensate the amount spent in repairing the asset.
  3. The policy also provides a personal accident cover, which covers the insured from accidental bodily injury resulting in death, or disablement. This personal accident cover has the following covers:
  4. Basic cover: only death
  5. Wider cover: death + Permanent Total Disability + Permanent Partial Disability
  6. Comprehensive cover: Death + Permanent Total Disability + Permanent Partial Disability + Temporary Total Disability
  7. In case of personal accident cover, the insured also gets the following benefits - transportation cost, cost of clothing, ambulance charges, education fund, and loss of employment benefits (subject to certain limits).
  8. The policy also provides the workmen's compensation benefit, under which if a domestic help is working in an insured premise, any injury or illness caused while under the insured's direct employment will be covered and compensated.
  9. The policy has a free-look period of 15 days during which the policy can be canceled, and any premiums paid will be returned after deducting the necessary expenses. Also, the policy is renewable for a lifetime.

How Can You Buy Universal Sompo Householder's Package policy?

The following steps will help you purchase a Householder's Package policy:

  1. On Universal Sompo's website, click on 'Call me' on the menu bar and fill the requested details.
  2. Once you submit, you will get a call from the insurance advisor of the company who will give you the link/a personal visit/ask you to visit the branch to take the details.
  3. Since this is a comprehensive householder package, you will have to fill in all the necessary details across 10 sections that cover your assets.
  4. After submitting the details, make the premium payment, and the policy will be generated and sent to your email and home address soon.

Claim Process of Universal Sompo Householder's Package policy

As soon as you experience any loss or damage mentioned in the policy, you need to follow the below steps:

  1. Intimate the company about the event through phone, email, or physically visiting the branch. In the case of Robbery (Section 2) or Money (Section 3), the loss should be reported within 24 hours.
  2. If necessary, lodge a complaint with the police and take reasonable steps to recover any property from further damage.
  3. Submit the following documents for settlement of claim:
    • Duly completed claim form
    • Copy of FIR
    • An estimate of loss/repairs
    • Invoice/ Bills/Receipts
    • Any other details/documents called for a specific loss
  4. Based on the documents submitted, the company will undertake a scrutiny of the case, and may consider the following options:
    1. Can the asset be repaired or reinstated at lesser market value than replacing it altogether?
    2. In case of a total loss, how much compensation should be provided for restoring or replacing it?
    3. Is the loss greater than the sum insured?

On the above basis, the company will make a decision and approve or cancel the claim.

Frequently Asked Questions (FAQ's)

1. What types of damages are excluded from the policy?

Any damage to the house or household contents caused due to the following reasons are excluded from the policy:

  • Pressure waves
  • Natural heating or spontaneous combustion
  • Burning or destruction by the order of the government
  • Damage by animals or vehicles owned by you
  • Damage caused during repairing done by you
  • Defects in the construction known to the insured

2. What if the value of the loss or damage is greater than the sum insured opted by me?

In such a case, you will be compensated only on the basis of the sum insured, and the additional loss would have to be borne by you.

3. If I lose or damage a single asset which is a pair of a set (like Dinner set, kitchen set, etc.), how much amount would be compensated?

If the damaged item is a part of a set of items, then the compensation will be for the single item and the value of the entire set won't be taken into consideration.

4. Would depreciation be taken into consideration during the claim settlement for domestic appliances?

In the case of domestic appliances, the cost of depreciation will be considered only in the event of the total loss of the appliance. The settlement will be on the market value basis. However, the depreciation won't be considered if the item has suffered a partial loss and needs to be repaired.

5. What are the exclusions under the personal accident cover under this policy?

The following causes of death are excluded from the policy:

  • Natural causes
  • Attempted suicide
  • Influence of alcohol or drugs
  • Engaged in the adventure of hazardous sports
  • Engaged in illegal activity
  • War, civil war, invasion, etc.
  • Others

6. Are there add-on covers under the personal accident cover?

Yes, if you have chosen the comprehensive cover, you are eligible for the following add-on covers:

  • Medical expenses extension
  • Hospital confinement allowance

Last updated on 06-11-2020