Oriental Car Insurance Review and Benefits

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Introduction on Oriental Car insurance

Oriental Insurance Company is a general insurance company completely owned by the Government of India. Oriental Insurance Company has insurance solutions for every needs of Indians and has a large network of offices and employees – more than 900 offices and 15,000 employees across India.

Oriental Car insurance is a financial safeguard for a large variety of situations, car insurance becomes one of the most important purchases you’ll make. Oriental Car insurance take care of all damages caused due to natural disaster such as an earthquake or flood; or somebody damages or steals your car. Oriental car Insurance understand the needs and offer Comprehensive Motor Insurance products that provide the added protection for your vehicle. Oriental car Insurance further provides cover for liability, death or property damage of third parties.

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Oriental Car insurance Key features and Benefits

No claim bonus is available ranging from 20-50% depending on the number of claim free years.
5 % Discount for Automobile Association Members.
Discount based on age and profession.
Discount for Anti Theft Devices.
Comprehensive support through our dedicated customer support team.
No lengthy procedures.
Instant Online Policy.
Online renewal process of policy is available.

Factors Covered under Oriental Car insurance

Loss or damage to your car

Accidental & External Damage.
Fire & Explosion.
Riot & Strike.
Malicious Act.
Burglary, housebreaking / Theft.
Landslide.
Transit.
Earthquake.
Storm and Flood.
Terrorism.
Whilst in transit by rail, road, air, elevator, lift.

Liability to Third Parties

Legal protection for death or Injury claims from third parties, including occupants of your car.
Legal protection for damage to third party property.
Personal Accident Benefits for you, your paid driver and occupants of your car.
Protection for your legal liability to your paid drive.

Personal Accident Cover to Owner- Driver

Personal Accidents to owner‐driver whilst driving the vehicle including mounting into/ dismounting from or travelling in the insured vehicle as a co–driver for Rs. 2 lakhs.

Subject to a deduction for depreciation, the rates are mentioned below in respect of parts replaced :

For all rubber/ nylon / plastic parts, tyres and tubes, batteries and air bags – 50%
For fiberglass components – 30%
For all parts made of glass – NIL
Rate of depreciation for all other parts including wooden parts will be as per the following schedule.

Age of the Vehicle	% Of Depreciation
Not exceeding 6 months	Nil
Exceeding 6 months but not exceeding 1 year	5%
Exceeding 1 year but not exceeding 2 years	10%
Exceeding 2 years but not exceeding 3 years	15%
Exceeding 3 years but not exceeding 4 years	25%
Exceeding 4 years but not exceeding 5 years	35%
Exceeding 5 years but not exceeding 10 years	40%
Exceeding 10 years	50%

For more information regarding Income Tax Benefits, visit www.taxqueries.in.

Sum Insured calculation under Oriental Car Insurance

The Insured’s Declared Value (IDV) of the vehicle will be considered as the ‘Sum Insured,’ fixed at the commencement of each policy period for the insured vehicle.

Age of the Vehicle	% Of Depreciation for fixing IDV
Not exceeding 6 months	5%
Exceeding 6 months but not exceeding 1 year	15%
Exceeding 1 year but not exceeding 2 years	20%
Exceeding 2 years but not exceeding 3 years	30%
Exceeding 3 years but not exceeding 4 years	40%
Exceeding 4 years but not exceeding 5 years	50%

Extra Covers offered in Oriental Car insurance

On payment of additional premium

Loss of or damage to electrical / electronic accessories can be covered
This policy can be extended to cover Liability to Paid driver, other employees
Personal Accident cover can be given to passengers of the car on a named or unnamed basis, the number of passengers being limited to the registered seating capacity of the car.

The Geographical area may be extended to include:

Bangladesh
Bhutan
Nepal
Pakistan
Sri Lanka
Maldives

by charging additional premium of Rs. 500/- per vehicle in case of package policy and Rs.100/- per vehicle in case of Liability only Policy.

Electrical / Electronic Fittings:
Electrical / Electronic Fittings which do not form part of the vehicle manufactured and imported have to be specifically covered separately by paying additional premium of 4% on the value of such fittings.

CNG / LPG-Bi-fuel Kits
5% extra on OD Premium. Rs. 60/- Extra on TP premium.

Fiber Glass Fuel Tanks
An additional premium of Rs.50/- for OD cover.

Discounts under Oriental Car insurance

Vintage Cars – A discount of 25% on the OD Premium & TP Premium
No Claim Bonus- Ranging from 20% to 50% depending on the number of claim free years
Automobile Association Membership Discount –Discount of 5% on the Own Damage premium subject to a maximum of Rs. 200/-
Discount for Anti Theft Devices –A discount of 2.5% on the OD component of premium subject to a maximum of Rs. 500/‐ for the Device approved by the ARAI.

Factors Not Covered under Oriental Car insurance

General Wear & Tear, Depreciation,
Mechanical or Electrical Breakdown
Consequential loss
A voluntary excess (If opted)
Damage to your personal property and opted TP Liability option.
Costs and expenses incurred without the prior written consent of the company
Damage by a person driving without a valid driving license.
Damage by a person driving under the influence of Liquor/Alcohol/Drugs.
Loss /Damage attributable to War /Mutiny /Nuclear risks.
Vehicle being used in contravention of limitations as to use (e.g. for hire or reward, organized racing or speed testing etc.).
Loss of accessories by theft, unless vehicle is stolen at the same time.
Damage to tyres/tubes of the Car, unless damage to the vehicle in the accident with liability maximum fifty percent of value.
Damage, outside India unless covered by extra premium for Nepal, Bhutan & Bangladesh, Pakistan, Sri Lanka & Maldives.

Oriental Car insurance premium calculation

1. IDV of the vehicle
2. Cubic capacity of the vehicle
3. Zone of registration
4. Age of Vehicle
Additional Premium for :
(i) Electrical & electronic items
(ii) CNG/LPG FUEL
(iii) Add on cover
(iv) Extra Benefit.

Documents Required to buy Oriental Car Insurance

Registration no
Engine no
Chassis no
Previous policy number if you are holding any
Month and year of vehicle manufacture,
Date and city of purchase,
Your address,
Phone no and email id.
Keep your RC copy by hand.

Documents Required for claim under Oriental car insurance

In case of accident to the insured vehicle

Duly filled and signed claim form and satisfaction voucher.
Registration certificate (RC).
Driving license of the person driving at the time of accident.
Original repair estimate, repair invoice.
Payment receipt for non cashless claims.
Original repair invoice for cashless claims.
AML documents for amount more than 1 lac
- PAN Card
- 2 Passport size photo
- Residence proof.

Form no 35 and original NOC from financier.
A copy of FIR is required in case of third-party injury/death/property damage.

In case of theft

Duly filled and signed claim form and satisfaction voucher.
Original Registration certificate (RC).
Original Policy copy.
Copy of FIR
All original keys and vehicle invoice copy.
No trace report confirming that the stolen vehicle is not traceable.
Form 26,28,29,30,35 duly signed by RTO transfer papers.
AML documents for amount more than 1 lac.
- PAN Card
- 2 Passport size photo
- Residence proof.

Oriental car insurance premium Calculator

Through Oriental Car Insurance premium Calculator we can calculate the annual premium based on depreciation value and IDV value given. Oriental Car Insurance premium Calculator gives you approx amount to be paid during buying new policy and renewing the old policy depending upon the details you have given.

Oriental car insurance customer care no

Toll Free Number: 1800118485 or 011- 33208485 (Normal Charges Apply )

Email:
For complaints/grievance related to insurance policy or claims: csd@orientalinsurance.co.in
For complaints/grievance related to online insurance policy: portal.support@orientalinsurance.co.in