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oriental two wheeler insurance

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About Oriental Two Wheeler Insurance

Founded in 1947, Oriental Insurance Company Ltd is a wholly owned subsidiary of the Oriental Government Security Life Assurance Company Ltd. The general insurance company has its head office in Delhi with over 1800 branches across the country and operations in Nepal, Dubai, and Kuwait.

Oriental offers competitive pricing on its two wheeler insurance policy along with a host of benefits for its policyholders. Policyholders also have the option to choose from add-ons to enhance coverage.

Quick Look At Oriental Two-Wheeler Insurance

Oriental’s two-wheeler insurance is a valuable safety net that protects against expenses that one may have to bear in the event of an accident.

FeaturesBenefits
Package policyOffers comprehensive coverage which includes third-party liability
Customised protectionChoose from add-on benefits for a customised insurance package
Annual and short duration coverPolicy is valid of one year, and shorter validity policies are also available
Swift online purchase and renewalPurchase, renew, or even switch to Oriental from another provider easily online
Emergency serviceFree emergency service available without a rise in premium amount
Discount offersDiscounts offered based on voluntary deductible, no-claim bonus, installation of anti-theft device in vehicle, and joining an automobile association

Advantages of Oriental Two Wheeler Insurance

Oriental’s two-wheeler insurance looks at covering expenses that the policyholder may have to bear as a consequence of an accident. The insurance policy protects you from burning a hole in your pocket in such situations.

  • Oriental two-wheeler insurance’s comprehensive policy covers expenses arising from own damage as well as third-party liability. The insurance company will pay for the damages as outlined in the policy for the policyholder’s vehicle as well as any liability to the third party.
  • Third-party liability coverage protects the policyholder from liability if a third party, which could be a person, vehicle, or property, is involved in the accident. Any pay-out to the third party is taken care of by the insurance provider as per the policy terms.
  • Personal accident cover compensates the owner-driver in the event of injury, disability, or death in an accident up to a sum of INR 15 lakh.
  • Add-ons provide additional protection in certain conditions that are not applicable under the comprehensive or third-party liability covers. These add-ons are available for an additional premium. You can opt for as many add-ons as you require based on your needs.
  • Oriental’s two-wheeler insurance offers a standard annual policy, which is renewed each year. If required, policies valid for shorter durations are also available for purchase.
  • The insurance company also gives policyholders access to emergency service when needed. These services are offered without adding to the premium.
  • You can also avail of discounts on your premium with a no-claim bonus or by opting for a higher deductible. Installing an anti-theft device and being a part of an automobile association can also bring down your premium.

Coverage For Oriental Two-wheeler Insurance?

Two-wheeler insurance policies cover certain situations that may arise and not necessarily include a collision accident. Some of these inclusions are:
  • Natural calamities – flood, hurricane, landslide, hailstorm, thunderstorm, frost, earthquake
  • Fire, explosion, or self-ignition
  • Man-made calamities – riot, strike, malicious act
  • Theft or burglary
  • Accident by external means
  • Damage in transit – road, air, inland waterway, elevators
If the two-wheeler needs to be towed, the insurance company will provide up to INR 300 as towing expenses. The cost of spare parts is disbursed after taking into account their depreciated value as follows.
Parts Depreciation Value
Rubber/nylon/plastic parts 50%
Tyres and tubes 50%
Batteries 50%
Fiberglass components 30%
Glass parts Nil
For other parts, including those made of wood, the depreciation value is based on the age of the vehicle.
Age Depreciation Value
Below 6 months Nil
6 months to 1 year 5%
1 year to 2 years 10%
2 to 3 years 15%
3 to 4 years 25%
4 to 5 years 35%
5 to 10 years 40%
Above 10 years 50%

What Are The Exclusions With Oriental Two-Wheeler Insurance?

Oriental’s two-wheeler insurance coverage excludes certain situations. These may be:

  • Loss or damage occurring outside the geographic location mentioned in the policy
  • Loss or damage due to a contractual agreement
  • Loss or damage while the vehicle was being used for purposes other than that mentioned in the policy
  • Loss or damage as a result of driving without a valid driving licence
  • Loss or damage as a consequence of driving under the influence or alcohol or other intoxicants
  • Loss or damage incurred in a deliberate attempt to injure oneself, suicide, or an attempted suicide.
  • Loss or damage during war and war-like situations or nuclear peril
  • Normal wear and tear
  • Loss as a consequence of previous damage
  • Depreciation
  • Loss or damage due to mechanical or electrical breakdown

Add-ons to Enhance Your Protection

Oriental’s two-wheeler insurance policy can be upgraded with some or all of its add-on covers. The policyholder can select add-ons as per their requirements for more comprehensive protection.

  1. Nil Depreciation – The nil or zero depreciation cover protects the policyholder against expenses for spare parts whose depreciation value is disbursed. Without this add-on, the policyholder would have to pay the depreciation value of spare parts that are replaced.
  2. Return to Invoice – The insured declared value of the vehicle is calculated based on its age, and the amount reduces each year. With the return to invoice cover, the invoice value of the two-wheeler is protected if the vehicle is stolen or destroyed.
  3. Personal Accident Cover – The pillion rider or person not insured under the policy but is riding the bike will receive coverage in the event of injury, total or permanent disability, or death as a result of an accident involving the vehicle if this add-on is opted for.
  4. Engine Protection – This add-on covers the cost arising from damage to the engine of the insured vehicle, including due to oil leakage, gear malfunction, starting the bike while the engine is wet.
  5. Legal Liability – If a person other than the policyholder is riding the two-wheeler at the time of an accident, the legal liability usually falls on the owner of the bike. This add-on protects the policyholder against such liabilities.

Where Can I Purchase Or Renew My Oriental Two-Wheeler Insurance Policy?

While you can always reach out to an Oriental Insurance Company’s representative at the branch or an agent for purchasing or renewing your policy, you can also do so online.

1. Purchase or renew via Probus

  1. Visit the Probus website
  2. Click on ‘purchase or renew policy’
  3. Provide your contact information, including your name, mobile number, and email address
  4. Add details about the vehicle you wish to insure. These details include the make and model of your vehicle and its year and place of registration.
  5. State is the vehicle was previously insured. If yes, give details of the previous policy and mention if any claim was made.
  6. Go through two-wheeler insurance policies offered by various bike insurance providers and select the one that fits you best.
  7. Select any add-ons that you may wish to purchase.
  8. Pay the premium on the payments and get a copy of your policy in your email inbox once it clears. Save a copy so you always have it on hand.

2. Purchase via Oriental’s Official Website

  1. Visit the official Oriental insurance website.
  2. Fill in the details asked in the ‘buy new’ part of the page. This includes the year of registration for your vehicle and its date of purchase, the regional transport office with which it is registered, and the state where it was purchased. Mention the vehicle’s engine, chassis, and registration number, its colour, and hypothecation type.
  3. Select the relevant options for the factors that go into calculating your premium and click submit.
  4. You will get a quote for your premium. If you wish to proceed, fill in your personal details.
  5. On the payments page, make the payment of the premium. Once it clears, you will receive the policy document at your email address.

3. Renew via Oriental’s Official Website

  1. Visit the official Oriental insurance website.
  2. Select the option – renew your Oriental two-wheeler policy or a two-wheeler policy purchased from a different company which you wish to switch.
  3. Enter your old policy number and click RENEW NOW.
  4. Select any add-ons that you would like to purchase.
  5. If you wish to proceed with the quoted premium, make the payment on the next page and receive your policy document via email.

Claims Process For Oriental Two-Wheeler Insurance Policy

Oriental Insurance is committed to customer satisfaction and has set up a smooth claims process.

Filing a claim properly in valid circumstances ensures swift resolution and disbursement of funds. To file a claim:

  1. Intimate the company immediately of an impending claim.
  2. Download the claim form from the website or obtain one from the branch. Alternately, you can file a claim online by logging into the portal and providing the details.
  3. Fill in the details on the claim form and attach all the required documents.
  4. A representative may be assigned to assess and investigate the damage to the vehicle.
  5. Submit the repair estimate and all bills and receipts.
  6. Once the paperwork is approved and the representative submits their assessment report, the funds will be disbursed.

How Is A Premium Calculated?

A premium seals the deal between the insurance provider and the policyholder. It takes into account the risk factors for the vehicle and the owner, and also the liability of the company.

Premiums are calculated based on different aspects such a:

  • The insured declared value of the two-wheeler
  • The capacity of the vehicle
  • The area or region where the vehicle is registered
  • The vehicle’s age
  • The vehicle’s make and model
  • The fuel type of the vehicle
  • Electricals and other electronic items
  • Any add-on covers

Are There Any Additional Terms I Should Be Aware Of?

The policyholder must bear a few things in mind regarding the terms and conditions of the oriental two-wheeler insurance policy.

  • The policyholder must be the registered owner of the vehicle being insured.
  • The policyholder must hold a valid licence issued by the country’s authorities.
  • For claims involving those other than the policyholder, the payment will be disbursed only after approval of the policyholder and will be considered final.
  • If the driver involved in the accident is eligible for compensation under the Workmen’s Compensation Act, 1923, they will not be entitled to the policy’s compensation.
  • For third-party liability, the disbursement will be made only if the third party is not involved for hire or reward. Also, the disbursement will happen only if the accident involves the policyholder or their household members, or the insured vehicle.
  • The company may independently conduct an assessment or investigation of any accident leading to a claim.

Frequently Asked Questions

1. How can I pay my premium? Do I get to choose from different modes?

Ans: You can make a cash payment at Oriental Insurance’s branch or you can pay online. Choose from credit card, debit card, and net banking payments when you pay your premium online.

2. How do I see the status of my policy?

Ans: For details regarding the status of your policy, you may visit Oriental Insurance’s website and enter your policy number for more information.

3. Where can I renew my Oriental two-wheeler insurance policy?

Ans. You can renew your Oriental two-wheeler insurance policy on the Probus website, or through Oriental Insurance’s website.

4. How do I cancel my Oriental two-wheeler insurance policy?

Ans. To cancel your existing policy, you will need to surrender your policy documents at the nearest Oriental Insurance branch. Once processed, any refund amount will be remitted to the account whose details you provided to the company.

5. What is the term of Oriental's two-wheeler insurance policy?

Ans. The standard term of the two-wheeler policy offered by Oriental Insurance is one year. However, you have the option to choose a shorter term.