About The Oriental Insurance Company
Incorporated in September 1947, The Oriental Insurance Company is a subsidiary of The Oriental Government Security Life Assurance Company Ltd. The insurance company was formed to carry out the business of General Insurance.
The Oriental Insurance Company offers various types of insurance covers, such as motor insurance, health insurance, insurance for the rural population, personal accident policy and more. The company aims at rendering the best customer services through its qualified and competent team of professionals.
The insurance company ensures that all the range of misfortune events are well covered under its car insurance plans.
Key Features of Oriental Car Insurance
|Features||Coverage and Benefits|
|Incurred claim ratio||81.83%|
|Personal Accident Insurance||Up to 15 Lakhs|
|No Claim Bonus||Yes|
Benefits of Oriental Car Insurance
Oriental car insurance offers the below-mentioned features and benefits to its policyholders:
- Oriental Car Insurance offers an assortment of discounts to its customers on the premium.
- With over 456+ cashless network garages, the insurance company offers a cashless repairs facility.
- An online portal for a host of services, such as the online purchase of various plans, renewal of plans, migration for car insurance plans, is available.
- No Claim Bonus is given on not making a claim in the previous policy year.
- Oriental motor insurance also offers Personal Accident Cover to the policyholders.
Types of Oriental Car Insurance Policy
The Oriental Insurance Company offers three car insurance plans to choose from. These are:
Third-Party Liability Only Plan
The Liability Only policy by Oriental car insurance provides complete protection against legal liability arising due to accidental property damages and/or injury/ death of a third party person caused by the insured car. Under this plan, the liability for death/injury is unlimited and for property damage is limited to up to Rs. 7.5 lakh. The Liability Only plan does not cover the damages sustained by the insured car. It only compensates a policyholder against third-party liabilities.
Standalone Own Damage Policy
The Standalone Own Damage car insurance policy by Oriental car insurance provides coverage against damages sustained by the insured car due to accidents, natural calamities, riots, fire, theft, etc. This policy can be purchased additionally along with third-party liability insurance to cover repair expenses incurred by the insured car due to an unanticipated incident.
Comprehensive Insurance Policy
The comprehensive car insurance policy offered by Oriental vehicle insurance provides coverage to the policyholder against damages to the insured car due to events like accidents, theft, fire, calamities, etc. Moreover, this policy also provides coverage against third party liabilities, such as third party death, injury or property damage.
Comprehensive car insurance is an extensive cover and can further be enhanced by purchasing add-on covers that provide extra coverage.
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Oriental Car Insurance Premium Calculator
A policyholder can calculate the car insurance premium of an Oriental motor insurance policy by using an Oriental car insurance premium calculator. This tool allows car owners to check the premium beforehand and make an informed decision about buying the policy.
Coverage Under Oriental Car Insurance
- Natural Calamities: Any loss or damage caused to the vehicle due to natural calamities, such as earthquakes, floods, typhoons, landslides, rockslides, etc.
- Manmade Calamities: Any loss or damage caused due to manmade calamities, such as riots, strikes, malicious acts, etc.
- Fire: Damages sustained by the insured car due to events, such as fire, self-ignition, lightning and explosion
- Theft: Loss or damages arising due to theft or burglary of the insured car
- Third-Party Liabilities: Any damage to third party property and third party injury or death
- In-transit Damages: Any damage to the insured car during transit by rail, road, airway or waterway
- Breakdown: Damages arising out of the mechanical or electrical breakdown of the insured vehicle
- Contractual Liability: Claims where the loss or damage to the car is due to any kind of contractual agreement
- Outside Geographical Area: Any damage or liability which has happened outside the geographic area as defined in the policy documents
- Drunk Driving: Accidental damages caused to the insured car under the influence of alcohol or drugs, the insurance company will not process such a claim
- Driving License: Damages sustained by the insured car when the vehicle was being driven without a valid license
- Ageing: Damages to the insured car due to depreciation, wear, and tear
- Unauthorized Uses: If the insured car is being used for a purpose other than agreed or defined, such as if a private car is being used for commercial purposes
- War: Damages to the insured car in the event of any civil war and nuclear perils
Oriental Car Insurance: Add-ons
The Oriental India Insurance Company also offers some add-on covers that can enhance the coverage of the basic car insurance policy. A car owner can purchase these add-ons by paying some extra premium along with their regular car insurance premium. These add-ons are:
Nil Depreciation cover provides coverage to policyholders against depreciation borne by the insured car. Under this add-on, the insurance company bears the depreciation on all the metal and plastic parts of the car in full. However, the depreciation for tyres and tubes are covered at 50%.
Under the Loss of Personal Belongings cover, the insurance company will compensate for the cost of personal belongings lost from the insured car in case of a total loss or theft. A maximum of Rs. 5,000 and Rs. 10,000 are compensated depending upon the limit a policyholder chooses. Protection cover for any loss to personal belongings is available on payment of additional premium of amount Rs. 400 or Rs. 650.
If the insured car meets with an accident or suffers a total loss, this Oriental car insurance add-on cover will provide an alternate car that can be used for a limited duration of 5, 10 or 15 days at most. However, this cover becomes payable only when the insured vehicle is disabled and damaged beyond 20% of the Insured Declared Value.
Under this add-on cover, the insurer will offer free emergency services in case of a complete breakdown of the car. However, this service can only be availed if the motor insurance policy has been purchased in the states of Delhi & NCR, Punjab, Himachal Pradesh, Haryana, Rajasthan, Mumbai, Southern States and Kolkata.
Under the Key Replacement add-on cover, the insurance company will offer compensation to the policyholder for the replacement or repairing of the car keys in case the keys of the insured car have been lost, stolen or damaged.
Under the Tyre and Rim Protect cover, the insurer will pay for the first claim of repairing or replacing tyres damaged due to burst, bulge or continuous running when deflated.
The Consumables cover reimburses the policyholder with the cost of consumable items refilled or replaced as a result of accidental damage. Consumables items refer to items like nuts, bolts, screws, engine oil, etc.
Add-ons for your car insurance
How to File a Claim Under Oriental Car Insurance?
Follow the steps mentioned below to file an Oriental motor insurance claim:
- Claim Intimation: Immediately inform the insurer about the incident by calling or emailing them so that your claim can be registered.
- Vehicle Inspection: Once the claim has been registered, the Oriental Insurance company will get the insured car inspected by a surveyor. The surveyor will examine the extent of damages sustained by the insured vehicle.
- Documents Verification: After the inspection, you may be required to show relevant documents to the surveyor. Make sure to keep copies of all the required documents for the claim processing.
- Claim Processed: In the case of a cashless claim, the insurance company will pay the cost of repairs directly to the workshop/garage once the car repair work is complete. If the car is being repaired in a non-authorized network garage, the insurance company will reimburse the claim amount to you after you have paid the entire bill amount and raised a reimbursement claim.
Documents Required to Raise a Claim Under Oriental Car Insurance
Make sure to keep these documents handy while registering a claim under Oriental vehicle insurance:
- Duly signed claim form
- Copy of Registration Certificate (RC)
- Copy of a valid driving license
- Copy of motor insurance papers
- Police FIR copy
- Original repair estimates or repair invoice
How to Renew an Oriental Car Insurance Policy?
You can easily renew Oriental car insurance online from Policybazaar.com by following these steps:
Step 1: From the official website of Policybazaar Insurance Brokers Private Limited, visit the Car Insurance page.
Step 2: You will find a form where you have to add your car number and select ‘view instant quotes’.
Step 3: Fill in the required details like name, email, etc. and select ‘view prices’
Step 4: Enter your policy expiry date and previous claim information
Step 5: From the given plans, find the Oriental car insurance renewal plan. You can also view the details of your motor insurance renewal policy by clicking on the ‘View Policy Details’ option.
Step 6: Include the add-on covers you wish to add to your policy
Step 7: Enter No Claim Bonus of your existing policy and proceed forward
Step 8: Fill out the given form and verify your details
Step 9: Select the option of “Summary and Payment"
Step 10: After verification of Oriental car insurance price, you can make a payment using your preferred payment mode.
Step 11: Once the payment is complete, your Oriental car insurance renewal will be complete.
The car insurance renewal documents by the Oriental Insurance Company will be sent to your registered email id.
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Oriental Car Insurance- FAQs
Q1: How to pay a premium for my Oriental motor insurance policy? What are the modes of payment available?Ans:The Oriental Insurance Co. Ltd. can be offline as well as Online. For online payment, the policyholder can pay via:
● Credit Card
● Debit Card
● Net banking
Ans:You can log in to the official website of The Oriental Insurance Company with your credentials to check your motor insurance plan status.
Ans:To cancel your Oriental four-wheeler insurance policy, you can submit the policy documents to the nearest branch of the insurer. The refunds will be directly credited to your bank account after deducting applicable cancellation charges.
Ans:You can lower the premium of your Oriental motor insurance policy by retaining your NCB, opting for higher voluntary deductibles, installing anti-theft devices in your car, and opting for membership of the Automobile Association of India.
Ans:No, you cannot avail NCB discount with an Oriental third-party liability motor insurance plan. This is because NCB can be availed only on own damage cover provided in comprehensive and standalone car insurance plans only.
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Note: This is your car’s recommended IDV as per IRDAI’s depreciation guidelines.asdfsad However, insurance companies allow you to modify this IDV within a certain range (this range varies from insurer to insurer). Higher the IDV, higher the premium you pay.