The Oriental Insurance Company Ltd. The Oriental Insurance Company Ltd., which commenced operations in September 1947, is one of the leading general insurance companies in India. The company offers two-wheeler insurance policies, four-wheeler insurance policies, personal accident policies, etc., as part of its product portfolio. The two-wheeler insurance policy offered by the company provides coverage against losses that you might have to incur in case of an untimely eventuality like an accident, vehicular damage, etc.
|Policy Period||The coverage period for Oriental Two Wheeler Insurance is usually one year, but a policy with a shorter duration can also be availed.|
|Policy Types||Oriental Insurance Two Wheeler Insurance|
|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.|
|Refund Facility||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 deducted.|
|If Plan Expires||In case of the expiry of your two wheeler insurance policy, 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 would like to have a soft copy of the policy.|
|Network Garage||Oriental Insurance Company has a wide network of garages across the country to help customers avail cashless services. .|
Following are the main reasons to purchase Oriental Two Wheeler Insurance:
The Oriental Insurance Company currently only offers one insurance policy for two wheelers – the Oriental Two Wheeler Insurance policy.
Following are the circumstances under which cover will be provided by the Oriental Two Wheeler Insurance Policy:
Note: The cover depends on the policy chosen. Certain benefits are applicable only if the individual has opted for add-on covers.
Following are the situations under which no settlement will be offered by Oriental Two Wheeler Insurance policy:
As per the Motor Vehicles Act, 1988, 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.
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:
In case of an accident, vehicular damage, or accidental loss, these are the steps that you will need to follow to raise a claim with the Oriental Insurance Company:
The following documents will have to be submitted to Oriental Insurance Company, based on the nature of the claim:
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.
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.
It is a punishable offence to ride a two wheeler without a valid insurance policy. Thus, it is essential for all two wheeler owners to ensure that their two 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.
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 firstname.lastname@example.org. Grievances and complaints regarding your online insurance plan can be sent to email@example.com.
Claims will only be honoured if the policyholder possesses a valid driving license on their person at the time of an accident.
The Oriental Two Wheeler Insurance policy has a tenure of one year, but policies can also be purchased for shorter durations.
The price of an Oriental bike 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.
Yes, paying the premium online through the insurer’s official website is secure.
The sum insured, also known as the Insured Declared Value or IDV, will be calculated by the insurance company by taking the vehicle’s current selling price into account and adjusting this sum for depreciation.
Individuals who would like to avail higher coverage should, ideally, opt for a comprehensive two-wheeler insurance policy. Comprehensive two-wheeler insurance policies provide coverage against third-party legal liability, accidental death/disability of the policyholder/rider of the two-wheeler, vehicular damages caused due to manmade events, natural calamities, and accidents, and total loss. Further, policyholders can also customize their policy with add-ons. Insurance companies also offer a No Claim Bonus to policyholders with comprehensive two-wheeler insurance policies if they don’t raise any claims during the policy term.
The deductible is a certain percentage of the claim amount that will have to borne by the policyholder. Deductibles can be voluntary or compulsory. The compulsory deductible will be levied by the insurer for all claims and policyholders will have to pay this amount. On the hand, policyholders can opt for a voluntary deductible, if required.
It is always advisable to renew your two-wheeler insurance policy before the policy expires since it is mandatory to have a two-wheeler insurance policy at all times, as per the Motor Vehicles Act, 1988. However, if your policy has lapsed, you can renew it within a period of 90 days to get your No Claim Bonus. If you don’t renew your policy within 90 days, you will lose your accrued No Claim Bonus. Also, you might need to get your two-wheeler inspected if you don’t renew your policy within the specified due date.
If the cost of getting your two-wheeler repaired/serviced amounts to more than 75% of the vehicle’s Insured Declared Value, the insurance company will term it as a Constructive Total Loss.
Yes, you can transfer the No Claim Bonus from one insurance company to another. However, if you don’t renew the insurance policy within 90 days from the renewal due date, the No Claim Bonus will lapse.
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