The Oriental Insurance Company Ltd. commenced operations in September 1947. Formerly a fully-owned subsidiary of the Oriental Government Security Life Assurance Company Ltd. that undertook general insurance business, the Oriental Insurance Company Ltd. was also a subsidiary of Life Insurance Corporation of India between 1956 and 1973. The company is currently headquartered in New Delhi and boasts 31 regional offices in addition to around 1800 operating offices across India. The Oriental Insurance Company Ltd. has also established an international presence with offices operating in Dubai, Kuwait and Nepal. With more than 14,000 employees under its workforce and a large number of experts with the relevant experience make the Oriental Insurance Company Ltd. one of India’s biggest insurance providers.
Features And Benefits Of Oriental Two Wheeler
||The coverage period for Oriental Two Wheeler Insurance is usually one year, but a policy with a shorter duration can also be availed.
||Oriental Insurance Two Wheeler Insurance
- Accidental loss or damage of two-wheeler
- Third party liability
- Personal accident cover
- Numerous Add on covers
- Loss or damage to two-wheeler caused by accidental external means
- Theft, burglary or house breaking
- Lightening, explosion, fire or self-ignition
- Storm, earthquake, rockslide, landslide, flood, terrorism, strikes, inundation, malicious acts, strikes
- Transit by inland waterways, rail, road, lift or air
- Damage caused by an individual riding without a valid driving license
- Electrical or mechanical breakdown
- Depreciation or any other consequential losses
- Damage caused by an individual riding under the influence of drugs or alcohol
- Damage or loss caused by nuclear risks, mutiny or war
- Damage to tubes and tyres
- Damage caused outside the country unless it is covered for Maldives, Pakistan, Nepal, Bangladesh, Sri Lanka and Bhutan
- Damage or loss caused to accessories of the two-wheeler by theft, burglary or housebreaking
- If the vehicle is used to reward or hire, racing or speed testing, reliability trials, etc.
- Zero depreciation cover
- Cover for loss of private belongings
- Alternative vehicle benefit
- Free benefit of emergency service through TVS
|No Claim Benefit
||In case a customer has not made any claims over the course of the policy term, a discount or bonus called No Claim can be availed on the premium payment applicable to the new policy.
|Zero Depreciation Cover
||In case a two-wheeler incurs partial damages, the policy shall cover the whole cost of the parts that need to be replaced. Devaluation based on the two-wheeler’s age will not be taken into consideration, but deductibles can be made based on the terms of the policy.
||Two-wheeler insurance policies that have been purchased through the company’s online portal can be returned to the Oriental Insurance Company by writing a letter to the relevant office of the company, requesting them to cancel the policy. Once the policy is terminated, the refund will be credited to the credit card of the customer, and refund of premium will be made once applicable cancellation charges have been deduced.
|If Plan Expired
||In case of the expiry of your two-wheeler insurance, you can renew the policy on the official website of Oriental Insurance Company. The process is quick and hassle free. You will simply have to enter the policy number of the plan that has just expired along with the insured code and policy date. You will immediately receive a digitally signed policy in your registered email id as well as an SMS notification on your registered mobile number once you have made the premium payment. You can choose to download a copy of the policy too if you want.
||Oriental Insurance Company has a wide network of garages across the country so that customers can find it easy to find solutions in times of emergencies.
Reasons to Choose Oriental Two Wheeler Insurance
Following are the main reasons to purchase Oriental Two Wheeler Insurance:
- Protection – The Oriental Two Wheeler Insurance policy offers comprehensive protection to ensure that customers are financially covered in case of loss/damage to their 2 wheelers.
- Discounts – Customers who purchase the Oriental Two Wheeler Insurance policy can save a good amount of money by making the most of the No Claim Bonus under this plan. Discounts can also be availed on anti-theft devices as well as through voluntary deductibles.
- Add on Cover – Customers who purchase the Oriental 2 Wheeler Insurance policy can avail add on cover benefits and enhance the level of protection offered to them.
- Online Renewal – Individuals who purchase the Oriental Two Wheeler Insurance policy have the convenience of renewing their policy from the comfort of their homes once the policy has expired.
- National Presence – The Oriental Insurance Company is consistently developing a strong presence across India with over 1800 offices operating in different cities. With more than 14,000 employees on its workforce and an impressive array of experienced agents has seen the company record tremendous growth over the years.
- Third Party Liability – The Oriental Two Wheeler Insurance policy offers protection against any third party damages.
- Hassle-free Settlement – The Oriental Insurance Company follows a simple and hassle-free procedure to settle claims.
- 24/7 Customer Service – The Oriental Insurance Company has a customer service team that works round the clock to ensure that customers have access to solutions with any problem or concern they face at any time.
Available Plans in Oriental Insurance Company
The Oriental Insurance Company currently only offers one insurance policy for two wheelers – the Oriental Two Wheeler Insurance policy.
Coverage Offered In Oriental Bike Insurance
Following are the circumstances under which cover will be provided by the Oriental Two Wheeler Insurance Policy:
- Loss of two wheeler – In case of the loss of a two wheeler during the policy term, the Oriental Insurance Company will pay the policyholder the Insured Declared Value which will be equal to the sum assured for the two wheeler.
- Damage to two wheeler – In case a 2 wheeler is damaged due to reasons such as theft, burglary or house-breaking Lightening, explosion, fire or self-ignition, storm, earthquake, rockslide, landslide, flood, terrorism, strikes, inundation, malicious acts, strikes, transit by inland waterways, rail, road, lift or air.
- Personal Accident Cover – Accident coverage will be provided to the owner of the 2 wheeler in case of the demise or injury incurred by an individual while mounting or dismounting the two wheeler, or while travelling.
- Third Party Coverage – The Oriental Two Wheeler Insurance policy covers damages to third party properties if the damage is caused by the insured two wheeler.
- Extension covers can be purchased by paying an additional premium in exchange for enhanced protection.
- Loss or damage to electrical or non-electrical accessories.
- Damage to rubber, plastic or nylon parts will be covered by the Oriental Two Wheeler Insurance policy, as well as damages to battery and tubes and tyres.
- In case the two wheeler is non-operational due to reasons covered by the policy, the company will incur the cost of protection as well as delivery to and from the nearest repairer subject to a maximum of Rs.300 per accident.
Note: The cover depends on the policy chosen. Certain benefits are applicable only if the individual has opted for add-on covers.
Exclusions in Oriental Two Wheeler Insurance Policy
Following are the situations under which no expenses will be reimbursed by the Oriental Two Wheeler Insurance policy:
- In case of any damage or loss to the two wheeler outside the geographic area covered by the plan.
- In case damage or loss is caused as a result of some type of contractual agreement.
- In case of claims arising out of the vehicle being used for purposes other than those defined or agreed.
- In case of damage arising due to the two wheeler being ridden without a valid driver’s license.
- In case of damage or loss arising due to the rider being under the influence of drugs or alcohol.
- In case of damage or loss arising due to the two wheeler being ridden by another individual apart from a driver as specified in the driver’s clause of the policy.
- In case of any nuclear perils and war.
- In case tubes or tyres are damaged but the insured two wheeler has not incurred any damages in the same accident.
- In case of bodily injury or death arising out of attempted suicide, suicide or intentional self-injury.
- In case of liabilities arising out of or as a result of consequential events resulting from contamination, ionising or radiation by radioactivity from any nuclear waste or nuclear fuel.
- In case of liabilities or expenses arising out of either consequential event or direct impact of any invasion, hostilities, war, acts of foreign enemies, mutiny, usurped or military power, civil war, or rebellion.
- In case the individual cannot provide proof that the liability raised for claim is not dependent on the aforementioned consequences.
- Electrical or mechanical breakdown, wear and tear, and depreciation.
Eligibility To Buy Oriental Bike Insurance
It is mandatory as per government regulations for every two wheeler within the country to be insured. All insurance companies including the Oriental Insurance Company, as a result, takes into consideration certain aspects prior to issuing a bike insurance policy.
- Registration – The two-wheeler must be registered with a Regional Transport Office in India.
- Fitness certificate – The two-wheeler must have a fitness certificate (if applicable).
- Driver details – The applicant for a 2 wheeler insurance policy will be requested to display his/her license at the time of purchase.
Payment – Depending upon the two-wheeler that is being insured, a payment will have to be made to purchase a two wheeler insurance policy.
- Modifications – Applications to insure modified two wheelers are often rejected, so make sure that your two wheeler is not modified.
Steps to Buy Oriental Two Wheeler Insurance
While customers can purchase an Oriental Two Wheeler Insurance policy by visiting a branch of the company, the same can also be purchased from the comfort of your home. Following are a few simple steps that can be followed to purchase an Oriental Two Wheeler Insurance policy online:
- Visit the official website of the Oriental Insurance Company.
- Choose the ‘Buy Online’ option from the bar menu at the top of the screen.
- Choose the ‘Buy New’ sub option.
- Multiple insurance policies will appear in a new pop up window, choose the plan you wish to purchase and enter all the details requested.
- The concerned team will contact you to confirm your application.
How to do Claims in Oriental Two Wheeler Insurance
In case of an accident, here is a step by step procedure to make a claim:
- Contact Oriental Insurance Company by calling their 24/7 customer care number immediately and intimate them about the accident.
- Make sure that the vehicle numbers have been taken down and reported along with witnesses to the insurance company and that an FIR has been filed with the police.
- Fill in the claim form and submit it to the company after duly signing it along with a copy of the RC, a copy of your driver’s license, and a copy of the FIR as well as others as requested by the Oriental Insurance Company.
Documents Required for Making Claims with Oriental Two Wheeler Insurance Company
The following documents will have to be submitted to Oriental Insurance Company depending upon the nature of the claim:
If Claim is made due to break-in and theft of two wheeler:
- Duly filled claim form.
- Police enquiry report.
- A copy of the claim notification furnished at the nearest branch of the company.
- A copy of the insurance policy along with premium receipts.
- Videos or photos of the damaged property showing damage caused.
- An original as well as duplicate copy of the driver’s license.
- Bank statements, asset register and bills to help the investigator from Oriental Insurance Company authenticate the loss incurred.
- Bike keys.
- An original as well as a duplicate copy of the registration certificate.
Third Party Insurance Claims Arising Out of Accidents:
- A copy of the driver’s license and the registration certificate.
- A copy of the claim notification submitted at the nearest branch of the company.
- A copy of the insurance policy along with the premium receipts.
- Driver’s statement regarding the accident.
- Contact information of the individual(s) killed in or maimed by the accident as well as details of the other individuals travelling in either of the vehicles that were subject to the accident.
- Contact details of the hospital and police station where the accident was reported.
- Legal documents duly signed by the rider and owner of the 2 wheeler.
- Valid autopsy report or copies of injury.
- Statement of the rider or owner of the 2 wheeler on charge sheet.
- Details regarding the damage incurred to third party property.
Renew Oriental Two Wheeler Insurance Online in Simple Steps
The renewal of your Oriental Two Wheeler Insurance can be done by visiting the nearest branch of the company or from the comfort of your home. Thanks to advancements in technology, you can easily renew your bike insurance policy from Oriental Insurance Company by following a few simple steps.
- Visit the official website of the Oriental Insurance Company.
- Select the option called ‘Buy Now’ and choose two wheeler insurance.
- On the ‘Premium Calculation’ page to which you are redirected, use the drop-down menu to choose the right option for premium amount calculation of your two wheeler.
- After the calculation has completed, you will see the total amount due on the screen.
- Select ‘Buy the Policy’ to continue with the transaction.
- Net banking, debit or credit cards can be used to make a payment for the renewal.
- Following the completion of the payment process through a secured payment gateway, your two wheeler insurance policy will be renewed.
- A soft copy of the new insurance along with policy number and other important details will be sent to your registered email id.
- An SMS will be sent to your registered mobile number, intimating you about the same.
Why Deductible Is Important In An Oriental Bike Insurance policy?
A deductible is basically an amount of money that the individual who purchased the policy will have to pay if his/her two wheeler is subject to an accident that requires repairs. Selecting a higher amount as your deductible will make your premium payments lower, and riders who are confident about handling two wheelers responsibly can select a higher deductible to get a discount on the premium.
What to do after expiry of an Oriental Two Wheeler Insurance Policy?
It is considered a traffic offence if you ride a two wheeler on the streets of India without a valid insurance. Doing so is punishable by a fine, making it essential for all two wheeler owners to ensure that their 2 wheeler insurance policies remain active at all times. Expired policies must be renewed immediately to avoid legal complications. A large number of insurance companies, including the Oriental Insurance Company offers reminders to policyholders to renew their policy before it expires. Since the renewal of lapsed policies is often subject to physical inspection of the two wheeler in addition to other formalities, renewing your plan before it expires will ensure that there are no hassles to deal with. Your Oriental Two Wheeler Insurance policy can be renewed online over the company’s official website.
Oriental Insurance Company Customer Care Service
The Oriental Insurance Company Ltd. is home to a 24/7 customer service team that can be contacted for any queries or concerns regarding your Oriental Two Wheeler Insurance Policy. To contact the registered head office of the company in New Delhi, call 011-43659595. For guidance or queries, call the toll free number on 1800118485 or 011-33208485. Grievances and complaints regarding your insurance plan or claims can be sent to email@example.com. Grievances and complaints regarding your online insurance plan can be sent to firstname.lastname@example.org.
Oriental Insurance Company Frequently Asked Questions:
Will the insurance plan offer coverage if I do not have my driving license?
The Oriental Insurance Company requires the rider to possess a valid driving license on their person at the time of an accident in order to entertain claims.
How long does the Oriental Two Wheeler Insurance policy last for?
The Oriental Two Wheeler Insurance policy has a tenure of one year, but policies can also be purchased for shorter durations.
How is the premium payment towards the Oriental Two Wheeler Insurance calculated?
The premium payment applicable to an Oriental Two Wheeler Insurance policy is calculated based on a number of factors like the Insured Declared Value of the two wheeler, its cubic capacity, the age of the two wheeler, the registration zone of the vehicle, the add-on covers availed, etc.
What credit and debit cards can be used to purchase or renew an Oriental Two Wheeler Insurance policy?
The Oriental Insurance Company accepts MasterCard and Visa for transactions to purchase and renew insurance policies.
How is the sum assured calculated for an Oriental Two Wheeler Insurance policy?
The sum assured of a policy will be the listed selling price of the two wheeler minus the cost of depreciation plus the cost of accessories excluded in the listed selling price.