Oriental Electric Car Insurance
Oriental electric car insurance is a type of vehicle insurance policy designed to provide
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Key Features of Oriental Electric Car Insurance
The table below highlights the important features of the Oriental EV insurance policy:
| Policy Features |
Coverage & Benefits |
| Third-Party Coverage |
Yes |
| No Claim Bonus (NCB) |
Up to ₹15 Lakhs |
| Personal Accident (PA) Cover |
Yes (Up to 50%) |
| Network Garages |
3100+ |
| No. of Zero Dep Claims |
2 |
| No. of Non-Zero Dep Claims |
Unlimited |
Types of Oriental Electric Car Insurance
The following are the three types of electric vehicle insurance policies offered by the Oriental Insurance Company:
-
Third-Party (TP) Policy
This is the mandatory vehicle insurance policy as per Indian motor laws. It covers injury or loss of life of another person as well as damages to their vehicle or property from your vehicle in a road accident. But, third-party insurance does not protect you from any damage or loss to your own insured EV.
-
Own-Damage (OD) Plan
An own-damage EV plan covers damages to your own electric vehicle from accidents, fire, theft, or natural or man-made disasters. You can opt for an OD plan with a third-party policy to enhance protection for your own car.
-
Comprehensive EV Policy
It provides complete protection by covering both third-party liabilities and own damages. You can further enhance the coverage of your comprehensive car insurance with optional add-on covers by paying an additional amount.
Add-on Options with Oriental EV Insurance
When getting car insurance for your EV, you can also choose these optional add-on covers offered by the Oriental Insurance Company under a comprehensive or an own-damage plan:
- Zero Depreciation Cover: The Zero Depreciation add-on, also known as bumper-to-bumper cover, ensures that no depreciation (on your EV or its parts) is deducted at the time of claim settlement. Hence, you receive a full claim amount for replaced or repaired parts.
- Battery Protection Cover: The Battery Protection Cover provides financial protection for the EV battery and the charging equipment against water damage, short circuits, or electrical faults.
- Roadside Assistance: The 24x7 Roadside Assistance add-on cover provides you with emergency assistance on the road in case of a vehicle breakdown. The services include towing, battery jump-start, flat tyre, and minor repairs.
- Return to Invoice Cover: In case of total loss or theft, the Return to Invoice Cover will help you get the full invoice value of the car (ex-showroom cost, the registration charges, and road tax).
- Consumables Cover: The Consumables cover includes coverage for replacing small items like engine oil, nuts, bolts, and lubricants due to accidental damage.
- Key & Lock Replacement: If your car keys are lost or stolen or the lockset is damaged, the Key & Lock Replacement add-on will cover their replacement cost.
Oriental EV Insurance Premium Calculator
Third-party EV insurance premiums are regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and are based on the EV's battery capacity. The table below shows TP premium prices for EVs.
| Battery Capacity |
EV Insurance Premium Rates |
| Less than 30 kWH |
Rs. 1,780 (approx.) |
| Between 30-65 kWH |
Rs. 2,904 (approx.) |
| Exceeding 65 kWH |
Rs. 6,712 (approx.) |
*Disclaimer: IRDAI sets these premium prices, which are subject to change. Always visit the IRDAI's official website to know the latest prices.
To determine the premium for a comprehensive EV plan, visit the car insurance premium calculator page or calculate it manually using this formula:
Comprehensive EV Insurance Premium = (Own Damage Premium - (No Claim Bonus + discounts)) + (Third Party EV Premium)
How to Buy or Renew Oriental Electric Car Insurance?
Whether you want to renew an existing policy or buy a new one, getting the electric car insurance online is quick and fairly straightforward. Here is the process:
- Provide your EV details to view plans.
- Select Oriental insurance and any add-ons (if required).
- Review the final premium amount.
- Pay the amount online via cards, UPI, or net banking.
- After the payment, you will receive your Oriental electric car insurance policy copy via email instantly.
How to File an Oriental EV Insurance Claim?
Here is how to raise a claim against your Oriental electric car insurance:
- Inform your insurer immediately after the incident and register your claim.
- The insurer will assign a surveyor to inspect vehicle damages.
- Submit the necessary documents to the surveyor for verification.
- Once the claim is approved, proceed with your EV repairs.
- After the repairs, your insurer will settle the repair bill directly with the garage in case of a cashless claim.
- If you choose a non-network garage for repairs, you need to pay from your pocket first, and the insurer will reimburse you later.
Documents Required to Claim Oriental EV Insurance
Keep these documents handy when making a claim against your Oriental electric car insurance:
- Claim form (filled & signed)
- Copy of your EV policy
- Vehicle RC and Driving Licence (DL)
- Copy of the Policy FIR (in case of theft or TP claims)
- Repair estimate/bills
- Identity & address proofs
