Given how hard it is to navigate through Indian roads, more and more people resort to two wheelers and bikes. It’s fuel efficiency, low prices and attractive styles offer great benefits to the consumers. However, bike riders are at a huge disadvantage when sharing the roads with other automobiles. Bikes are more prone to accidents, as per statistics.
So, in order to get complete protection, two wheeler insurance is a must. Protect yourselves on the move. Getting a two wheeler insurance is very easy. Thanks to increasing two wheeler insurance campaigns online. Oriental Two Wheeler Insurance recognizes the basic requirements of two wheeler riders and offers a wholesome protection plan.
A pioneer of General Insurance products, Oriental insurance company was founded way back in the year of 1947. It started out as a subsidiary of Life Insurance Corporation of India and has eventually branched out. Now Oriental Insurance has 1800+ operating offices in the various cities of India. The company also has overseas operation in Nepal, Dubai and Kuwait. It offers several insurance products to cater to the all the varies needs of the people.
Third Party Liability – Coverage for expenses incurred due to third party damage and coverage for liability to property or third party victim
Personal Accident Cover – To protect the owner or driver of the two-wheeler this covers for personal expenses incurred due to death or disablement
Loss or damage to two wheeler caused by natural calamities of earthquake, flood, storm, landslide, inundation, fire, explosion, self-ignition
Loss or damage to two wheeler caused by man-made calamities like burglary, theft, accident, riot, terrorism, transit by road, rail, air, waterways and other malicious acts
Add-on Coverage of Nil Depreciation, Loss of Private Belongings, Alternative Car Benefits
1. Voluntary Deductible – The particular share of amount that the policy holder agrees to pay from his own pocket during the event of any claim. The higher the voluntary deductible, the greater the discount on premium
|Voluntary Deductible||Discount Percentage on the Premium|
|Rs. 2,500||20% on the own damage premium, up to Rs. 750|
|Rs. 5,000||25% on the own damage premium, up to Rs. 1,500|
|Rs. 7,500||30% on the own damage premium, up to Rs. 2,000|
|Rs. 15,000||35% on the own damage premium, up to Rs. 2,500|
2. Anti-Theft Device – If you have installed anti-theft device in your vehicle, you can be eligible for a discount of up to 5% on the premium
3. Automobile Association Discount – If you are the member of the Automobile Association of India, avail discount on your premium
4. No-Claim Bonus – For every claim-free year, avail a no claim bonus on your renewable premium each year
1. Nil Depreciation Cover – The depreciation rate based on the age of your vehicle will not be applied at the time of making any claim. This coverage waives the depreciation factor, and you can avoid out of pocket payments by opting for it.
2. Cover for Loss of Private Belongings – If you loose personal belongings like cell phones, computers, tablets, i-pod, etc. within the price range of Rs.5000 to Rs.10,000, receive compensation for the same as per the terms and conditions of the coverage.
3. Alternative Car Benefit – If your vehicle is not usable for a certain period of time due to extensive repairs, oriental insurance offers you a substitute vehicle for as long as 15 days with a per day limit of Rs. 400 or Rs.650
Follow the right process in the event of any accident:
For the convenience of all consumers, Oriental insurance is available for purchase online, and also policies can be renewed at their portal. By following simple steps, customers can save their time and by a policy sitting in the comfort of their home. There are no middlemen or agents; you can customize your plan as per your preferences. You can calculate the premium amount that you are liable to pay with the help of the online tools.
Buying oriental insurance policy online is quick and efficient, with such a hassle-free and smooth process.
1. What kinds of two wheeler policies are available online?
There are two basic policies offered by Oriental Insurance.
1. Liability Only – This insurance is mandatory for a two wheeler and offers coverage only for third party liability
2. Package Policy – In addition to liability only policy, own damage coverage is also offered in this policy
2. How is the insurance premium calculated?
The premium is calculated based on several factors which include the IDV of the vehicle, it’s cubic capacity, zone of registration, age of the two wheeler and add-on covers opted for. The IDV of the vehicle is nothing but the manufacturer’s listed selling price minus the depreciation of the vehicle based on its age.
3. How much would the policy pay if the vehicle gets stolen?
If the bike is stolen and all the due claim settlement process is followed thoroughly, then the total sum insured amount or the IDV of the bike is reimbursed to the customer.