Oriental Two wheeler Insurance review and benefits

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Introduction on Oriental Two wheeler insurance policy

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

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Oriental Two wheeler 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 Two wheeler insurance

Loss or damage to your two wheeler

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.
Legal protection for damage to third-party property.
Personal Accident Benefits for you.
Protection for your legal liability to driver.

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

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.

Nature of Injury	Scale of Compensation
1. Death	100%
2. Loss of two limbs or sight of two eyes or one limb and sight of one eye.	100%
3. Loss of one limb or sight of one eye	50%
4. Permanent total disablement from injuries other than named above	100%

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%

Sum Insured calculation under Oriental two wheeler 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 two wheeler insurance

1. 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 two wheeler on a named or unnamed basis.

2. 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.

3. Transfer of Interest

4. Change of Vehicle

Discounts under Oriental two wheeler insurance

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Voluntary Deductible – A discount of 25% on the OD Premium & TP Premium
No Claim Bonus – If no claim is preferred in the expiring Policy, a Bonus or Discount named NO CLAIM BONUS is given on the Premium of the new Policy.
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.

Add On Covers under Oriental Two Wheeler Insurance

1. Endorsement for nil depreciation: An excess of 1% of admissible claim amount or 0.5% of the IDV of the vehicle whichever is less subject to a minimum of Rs.250 will be deducted from the claim at the time of settlement in addition to any other excess / deductibles applicable under the policy.

2. Personal effects endorsement: The payment of any claim under this endorsement shall be made only if loss is reported to the Police Authorities and a FIR/DDR registered.

Factors Not Covered under Oriental two wheeler 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 two wheeler, 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 two wheeler 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 two wheeler 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 two wheeler 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.

Claim Procedure for Oriental Two Wheeler Insurance Policy

Intimate your claim by calling – 1800-11-8485
Please provide the following details when you call customer care to intimate about claim.
- Your Contact number
- Policy number / Cover note no. or Vehicle no., Chassis no and Engine no.
- Date & Time of loss
- Loss location
- Drivers details including License number.
- Nature of injury if any

Immediate Notice shall be given to the company in writing upon occurrence of accidental loss/Damage.
Submit all the documents required by the insurance company.
Insurance company has the right to inspect the claim at any point.
The company decides for repairs, reinstate or replace the vehicle insured based upon the accident.

Oriental Two wheeler insurance premium Calculator

Through Oriental two wheeler Insurance premium Calculator we can calculate the annual premium based on depreciation value and IDV value given. Oriental two wheeler 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 two wheeler 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