The United Insurance Company of Pakistan Limited (UIC) was established in the year 1959 on the Twentieth day of October. It was operational in Pakistan including East Pakistan (now Bangladesh). UIC is operating with more than 100 branches across Pakistan. UIC is doing general business including Motor Insurance, Group Health Insurance, Travel Insurance (Health), Travel Bonds & Guarantees, Livestock and Crop Insurance. It is a public limited company listed in Pakistan Stock Exchange Limited and is presently one of the leading quoted insurance companies of Pakistan with its A+ rating from PACRA.
For the first time ever Summit Bank introduces AUTO SHIELD, a convenient way to access auto insurance with innovative payment method via monthly installments. It provides security to consumer through its comprehensive auto coverage including accident & collision damages, theft and snatching. This product enables consumer to ensure both new and used vehicle in the most hassel-free manner.
|Policy Term||1 Year|
|Premium Rate||2.9% (without tracker) & 3.9% (with tracker) on value of vehicle|
|Premium Payment Method||Direct debit from SMBL account on monthly basis|
|Age of Vehicle||Up to 10 years old|
|Value Added Services||
|Grace Period on monthly premium payment||15 days|
|Free Look Period||14 days|
The product is underwritten by The United Insurance Company of Pakistan limited (UIC), It is not guaranteed or insured by Summit Bank