The Oriental Insurance Company is an IRDA certified public sector insurance company offering non-life insurance products. It was founded in 1947. Headquartered at New Delhi, the company has 31 Regional offices and over 1800 operating offices throughout India. Its overseas operations extend to countries like Nepal, Kuwait and Dubai.
The insurance company has a workforce of about 14000 employees. It has developed various types of insurance covers to cater to the needs of both urban and rural population of India. It has a technically qualified and competent team of professionals to provide the best customer service.
Apart from motor insurance it also offers shopkeeper insurance, householder policy, health insurance, commercial insurance, marine insurance, agriculture insurance and more. In the Financial Year of 2016-17, the company earned a global premium of Rs. 11,000 crores.
You two-wheeler may be an integral part of your life. Two wheelers fulfill one’s longing for an own vehicle at an affordable price. But they are more prone to accidents and other unfortunate events. Indian roads witness a staggering 2 lakh accidents annually, and bike accidents account for about 21% of it.
Here insurance policies come to the rescue of motorists. An insurance policy offers to compensate your losses as defined by the policy in return for a premium. Oriental Insurance Company Limited offers to protect your two wheelers under its Motor Package Insurance Policy.
The following features set Oriental Insurance apart from other insurance providers.
The liability of the insurer to indemnify losses incurred by the insured is limited to the damage or injury caused by the following:
To customize the policy to suit your individual needs you can opt for add-on covers at an extra premium.
The length of the policy period is generally one year after which it has to be renewed. However, policies of shorter durations can also be opted for.
Sum insured and premium
The insurance amount shall be the Insured Declared Value (IDV) which is the maximum amount payable by the insurer in case of total damage. The IDV for vehicles less than five years old will be based on the manufacturer’s listed price adjusted for depreciation. For vehicles older than five years and other obsolete vehicles, the IDV shall be a mutually agreed value and quoted in the plan offer. The premium payable depends on a number of factors.
Factors responsible for the premium
The premium for Oriental Two Wheeler Insurance Policy is calculated by the computation of technical factors such as
Additional premium for:
Discount on premium offered by Oriental Two Wheeler Insurance Policy
Under this policy, a range of discount can be availed on the premium on the basis of
Making it simple for policyholders across India Oriental Insurance Company offers a host of online services in its online portal. Now it is possible to buy or renew insurance without going through the hassles of waiting at the company office. You can select the plan that suits your needs and customize it with add-on options. After an inspection of the vehicle is conducted, you can pay the premium online and acquire your policy in a matter of seconds. The policy document can be downloaded in a digital format minimizing the need for documentation. The online services offered by Oriental Insurance include:
You can purchase your insurance policy online by following these steps:
You can also use the Callback option or visit your nearest branch to buy or renew your insurance policy.
Vehicles often need a huge investment. So it is important you secure the vehicle you invested your hard earned money on. An insurance plan in place will protect you from the financial and mental implications of loss or damage to the vehicle. Motor Insurance is now mandated by the Government of India. Ride without any worries on the road with Oriental Two Wheeler Insurance Policy.