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Oriental Two Wheeler Insurance Policy Review – Coverages & Benefits of OICL Bike Insurance Policy

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Everyone love their bike by travelling all around the city and treat them like their own baby. During Sundays or at any leisure time, people will clean it and polish it. Because two-wheelers became an important part of our life these days. It is our necessity and pride to keep the bike or scooty or scooter safe and secure. But people couldn’t recognise that two wheelers also has its risks and probabilities that happen unexpectedly. Hence by buying the bike insurance, the insured may stay at peace. The Oriental Two Wheeler Insurance policy provides financial cover to bike or scooter against physical damage, theft and third party liability. With poor road conditions in India and no driving ethics, two-wheeler insurance is the only saviour on the roads.

Oriental Two Wheeler Insurance Policy Review

The Two wheeler insurance refers to an insurance policy taken to cover against any damages that may occur to a two wheeler and/or its riders due to an unforeseen and unfortunate event of an accident, theft or natural disaster. The Two Wheeler Insurance cover provides protection against liabilities arising from damages to a third party due to the accident. Two wheeler insurance or bike Insurance is the ideal solution to meet exceptional costs that may occur due to the damages caused to the two wheeler. The bike insurance cover provides protection to all types of two wheelers such as scooter, motorcycle, moped and scooty and includes all uses like personal, commercial or mixed. Hence, OICL Bike Insurance Policy ensures you have a safe ride every single time.

The Two wheeler insurance market has changed dramatically since the emergence of new players in the market. The bike insurance companies nowadays have come up with a range of features to attract the customers and ensure they continue with them year after year. But with a broad range of Bike insurance policies available, the task of choosing the best two wheeler insurance policy as per your needs will be quite tough and confusing. For the sake of those policyholders, I have given the list of Oriental Bike Insurance plans in this article. Buying an Oriental Two Wheeler Insurance policy online is a hassle-free and instant process. The Key features, Renewal Process, Inclusions, Exclusions, etc. of OICL Two-Wheeler Insurance Plans are mentioned in detail below. Refer our site www.policycorner.in for more information regarding Oriental General Insurance Plans.

What are the Features of OICL Motor Insurance Policy?

  • The Coverage period is for one year. However, shorter duration covers are also available.
  • The Policyholder can avail a free benefit of Emergency Service through TVS without any extra premium.
  • The geographical area can be extended upto some selected countries.
  • The Insured Decelerated Value (IDV), shall be projected as the Sum Insured for the vehicle.

Oriental Bike Insurance Plan Benefits

The Policyholder can avail various benefits by choosing this Oriental Two Wheeler Insurance Policy. Those benefits are

  • No paperwork required, i.e., you can receive the insurance copy instantly in your email.
  • No claim bonus is available ranging from 20-50% depending on the number of claim free years.
  • 5 % Discount for Automobile Association Members.
  • Discount for Anti-Theft Devices.
  • Under this plan, there is an option to get cover for your co-passenger.
  • There is a separate online Portal for the host of services such as Buying, Renewal of plans, Migration for 2 wheeler insurance plans.

Discounts in Premium

The following Discounts in premium may be granted for this OICL Two Wheeler Insurance Policy. Those are

  • Voluntary Deductible.
  • Discount for anti theft Device.
  • If no claim is preferred in the expiring Policy, a Bonus or Discount named No Claim Bonus is given on the Premium of the new Policy.
  • Automobile Association discount

Inclusions of Oriental Two-Wheeler Insurance Plan

Loss or damage to your two wheeler

  • Accidental & External Damage.
  • Fire & Explosion.
  • Riot & Strike.
  • Malicious Act.
  • Burglary, housebreaking / Theft.
  • Landslide.
  • Transit.
  • Earthquake.
  • Storm and Flood.
  • Terrorism.
  • While in transit by rail, road, air, elevator, lift.

Liability to Third Parties

  • Legal protection for death or Injury claims from third parties.
  • Legal protection for damage to third-party property.
  • Personal Accident Benefits for you.
  • Protection for your legal liability to the driver.

Personal Accident Cover to Owner – Driver

Personal Accidents to owner‐driver while driving the vehicle including mounting into/ dismounting from or travelling in the insured vehicle.

OICL Two Wheeler Insurance Add-On Covers 

Endorsement for Nil Depreciation: An excess of 1% of admissible claim amount or 0.5% of the IDV of the vehicle whichever is less subject to a minimum of Rs. 250 will be deducted from the claim at the time of settlement in addition to any other excess/ deductibles applicable under the policy.

Personal Effects Endorsement: The payment of any claim under this endorsement shall be made if the loss is reported to the Police Authorities and a FIR/ DDR registered.

Exclusions of Oriental General Bike Insurance Policy

There are still some exclusions that are not covered under this Oriental Two Wheeler Insurance Policy. They are

  • General Wear & Tear, Depreciation.
  • Mechanical or Electrical Breakdown.
  • Consequential loss.
  • A voluntary excess (If opted).
  • Damage to your personal property and opted TP Liability option.
  • Costs and expenses incurred without the prior written consent of the company.
  • Damage by a person driving without a valid driving license.
  • Damage by a person driving under the influence of Liquor/Alcohol/Drugs.
  • Loss /Damage is attributable to War /Mutiny /Nuclear risks.
  • The vehicle being used in contravention of limitations as to use (e.g. for hire or reward, organised racing or speed testing, etc.).
  • Loss of accessories by theft, unless the vehicle is stolen at the same time.
  • Damage to tyres/tubes of the two-wheeler, unless damage to the vehicle in the accident with liability maximum fifty percent of value.
  • Damage, outside India unless covered by the extra premium for Nepal, Bhutan & Bangladesh, Pakistan, Sri Lanka & Maldives.

Buying Procedure of Oriental Vehicle Insurance Policy

The Oriental Two-Wheeler Insurance Plan buying procedure is available here. The Buying process of Bike Insurance policy is very simple if you have all the information regarding documents with you. Before buying the OICL Two Wheeler Insurance, read the Plan details carefully. The Appointee can buy the OICL Bike Insurance Plan in two ways either offline or online. For offline Process, Visit the nearest Oriental General Insurance Company Branch Office. For Online Process, refer the Official Website and fill the application form or proposal form for the relevant policy.

Documents required to Buy Oriental 2 Wheeler Insurance Policy

  • Registration number.
  • Engine no.
  • Chassis no.
  • Previous policy number if you are holding any.
  • Month and year of vehicle manufacture.
  • Date and city of purchase.
  • Insured address, Phone no and email id.
  • Keep your RC copy by hand.

Oriental General Two Wheeler Insurance Policy Claim Process

The Policyholder can claim the Insurance plan offered by the Oriental Insurance Company. First of all, to intimate a claim, you have to call the Toll free Helpline no. 1800 11 8485. The insured need to submit the claim documents to the help desk of the company. You have to take your vehicle to any of our authorised network garages for repair. The Claim will be settled as soon as possible if you have submitted all the required documents. Therefore, Let us have a look at the documents required. So, to Claim the Oriental 2 Wheeler Insurance Policy, you have to carry the following documents.

  • Duly filled and signed claim form and satisfaction voucher.
  • Registration certificate (RC).
  • Policy Original copy.
  • Driving license of the person who was driving at the time of the accident.
  • Original repair estimate, repair invoice.
  • Payment receipt for non-cashless claims.
  • Original repair invoice for cashless claims.
  • AML documents for amount more than 1 lac
    • PAN Card
    • 2 Passport size photo
    • Residence proof.
  • Form no 35 and original NOC from financier.
  • A copy of FIR is required in case of third-party injury/ death/ property damage.

How can I renew my Oriental Two Wheeler Insurance Plan?

Oriental Tw0-wheeler Insurance Renewal process is possible in two ways, i.e., offline and online. For offline renewal, you have to visit the Oriental General Insurance Company Branch Office within the grace period. The Policyholder should fill the corresponding forms regarding the policy and make payment. The Renewal process of Oriental Bike Insurance Policy through Offline is a time taking process. So to reduce the effort and save the customer’s time, the company has introduced online renewal process.

Oriental Bike Insurance Policy Online Renewal Process

  • Visit the official website of the Oriental Insurance company and Go to products section.
  • Select the Two Wheeler Insurance plans and click on Renew Online.
  • Enter your Policy details and tap on Renew Now button.
  • Pay your premium through internet banking/ debit card/ credit card.
  • Take the printout of the payment receipt.
  • With this, your renewal process has completed.

Oriental 2 Wheeler Insurance Premium Calculator

Oriental Two Wheeler Insurance Premium Calculator is used to calculate the premium amount that has to be paid to get all the benefits available under this policy. The Oriental Bike Insurance Premium Calculator is available on the official website. The data required for calculating premium amount using OICL Two Wheeler Insurance Policy Maturity Calculator are

  • IDV of the vehicle.
  • Cubic capacity of the vehicle.
  • Zone of registration.
  • Age of the Vehicle.

Extra Covers provided for OICL Bike Insurance Policy

The Oriental Two Wheeler Insurance Plan provides some extra covers to the policyholders. They are

  1. Transfer of Interest.
  2. Change of Vehicle.
  3. On payment of additional premium:
    • Loss or damage to electrical/ electronic accessories can be covered.
    • This policy can be extended to cover Liability to Paid driver, other employees.
    • Personal Accident cover given to passengers of the two wheeler on a named or unnamed basis.
  4. The Geographical area may be extended for Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka, and Maldives by charging an additional premium of Rs. 500/- per vehicle in case of package policy and Rs. 100/- per vehicle in case of Liability.

For more details regarding OICL Bike Insurance Policy, download the Oriental Two-Wheeler Insurance Policy Wording here.