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Oriental two wheeler Insurance is a comprehensive bike insurance plan designed for the complete protection of your vehicle. The plan is offered by Oriental Insurance Company, a public sector general insurance company of India. With 29 regional offices and 1800+ operating offices, the company achieved a premium of Rs. 13199 crores in FY 2018-19.
The company offers bike insurance under the private package bike policy with extra coverages such as NIL Depreciation Cover, Loss of Personal effects, Alternative Bike Benefit, Free Benefit of Emergency Service through TVS. The private package policy covers accidental loss or damage to vehicle, third party liability and personal accident cover.
Oriental Insurance offers two types of two wheeler insurance, third party and package policy. Below are the details of both the coverage options for insuring your vehicle.
Third party liability insurance
Comprehensive Coverage (Own Damage)
Oriental Two-wheeler Insurance lets you cover your bike, yourself and third party with its comprehensive coverage two wheeler insurance plan.
It offers you coverage in the following events caused by man-made and natural calamities:
Personal Accident Cover
Having a personal accident cover provides coverage of up to 1 lakh to the owner-driver of the insured vehicle in case of permanent total disability or to the beneficiary in case of accidental death.
No Claim Bonus
For every claim-free year, Oriental Insurance offers you a discount on your own-damage premium.
The following table shows the NCB grid:
|NO. OF YEARS||DISCOUNT|
|One claim-free year||20%|
|Two consecutive claim-free years||25%|
|Three consecutive claim-free years||35%|
|Four consecutive claim-free years||45%|
|Five consecutive claim-free years||50%|
You can retain the NCB and carry forward the same if you want to purchase a new bike.Voluntary discounts
Deductible is nothing but an amount that you need to pay when your vehicle is damaged due to an accident or any other event. A deductible plays an important role in determining your two wheeler insurance premium. Higher the deductible, lower the premium and vice-versa. So if you think you can ride safely, then you should opt for high deductible as you will have to pay low premium.Discount for anti-theft device
If you've installed an ARAI approved anti-theft device in your vehicle, then you are eligible for an additional discount up to 2.5% on your own-damage premium.
Step-by-step claim process is mentioned below:
a) In case of Accident
b) In case of Theft
c) In case of Third Party Claims
Step-wise guide to claim:
The goal of the company remains in providing excellent customer support to its clients. Oriental customers are supported with quality service with quick solutions at the time of claims. With useful add-ons, you can customize your two-wheeler insurance plan. OICL has an extensive network of garages to help their customers to avail cashless services. Consider Oriental Insurance package policy for your two-wheeler insurance, if you are looking for an old and the most trustworthy insurance company.
Yes, the discounts as per the provisions of the government are applicable on two wheeler insurance from Oriental Insurance. The insurance company offers 10% discount to individual customers on digital payments on all new two wheeler insurance plans purchased through their official website.
Premium on two wheeler insurance from Oriental Insurance is determined on the basis of different factors like the type, model, make, cc, usage, location of registration, history of previous claims, among other parameters.
Your two wheeler insurance from Oriental Insurance will be renewed online or offline by the same branch from where you had purchased your insurance plan, i.e., your home branch. For the offline method, you can renew your two wheeler insurance from Oriental Insurance by paying the exact premium to the home branch. For the online option, you can visit their official website and follow the instructions to complete the renewal process for two wheeler insurance from Oriental Insurance.
Yes, premiums for two wheeler insurance from Oriental Insurance can be done online. All that the customers need to do is visit the insurance company’s official website and follow the steps to complete the premium payment process. Policyholders can also register for renewal alerts through mobile messages as a confirmation for successful premium payment.