Oriental Insurance For Bike

Hello buddy I want to apply for the Motor package insurance policy for two wheeler at Oriental Insurance so can you please provide me the details of the same ??

[Pathak]

As you want to apply for the Motor package insurance policy for two wheeler at Oriental Insurance

So the details are given below:-

Motor package insurance policy for two wheeler:

What is enclosed under Two Wheeler Insurance Policy:

The Package Policy covers

1. Accidental Loss of or damage to the Vehicle

2. Liability to third parties, Personal accident cover to owner driver.

3. Various Add on Covers on extra premium

Loss or damage to two wheeler caused by :

4. Accidental external means.

5. Burglary, House Breaking or Theft.

6. Fire, Explosion, Self Ignition & Lightening.

7. Earthquake, Flood, Storm, Landslide or Rockslide, Inundation, Terrorism, Riots, Strikes, Malicious Acts

8. Transit by Road, Rail, inland waterways, air or lift.

What is the Amount of Insurance:

The amount of Insurance will be Insured affirmed value of the Vehicle (IDV).

IDV for vehicle less than five years old is the Manufacturers listed selling Price which is adjusted for Deprecation based on age of Vehicle.

For vehicles further than five years of age and obsolete vehicles, the IDV is equally agreed value.

How is Premium Calculated :

The Premium calculation is based on the following factors:

1. IDV of the vehicle

2. Cubic Capacity of the vehicle

3. Zone of Registration

Age of Vehicle Additional Premium for :

(i) Electrical & electronic items

(ii) CNG/LPG FUEL

(iii) Add on Covers

(iv) Extra Benefit

What is the Period of Insurance :

Coverage epoch is for one year, however shorter duration covers are also available.

What is not covered under the Two Wheeler Package Policy:

1. Damage by a person driving without a valid driving license

2. Mechanical or Electrical breakdown, failure

3. Damage by a person driving under the influence of liquor/ Alcohol/ Drugs

4. Depreciation, any consequential loss

5. Loss/Damage attributable to War/Mutiny/Nuclear risks

6. Damage to tyres/tubes, unless damage to the vehicle in the accident with liability maximum fifty percent of value.

7. Damage, outside India unless covered by extra premium for Nepal, Bhutan & Bangladesh, Pakistan, Sri Lanka &Maldives

8. Two Wheeler being used for Hire or Reward, speed testing, or Racing, Reliability Trials.

9. Loss of or Damage to accessories by Burglary, Housebreaking or theft unless the Vehicle is stolen at the same time.

Discounts in Premium:

Following Discounts in premium can be granted:

a) Voluntary Deductible
b) Discount for anti theft Device
c) 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.
d) Automobile Association discount
What does liability to third parties means in the coverage:
If the insured vehicle causes Injury/Death and/or Property Damage to a third party, the legal liability arising out of the same to a third party is covered under liability to third parties

What is the Period of Insurance :

Coverage period is for a year, however shorter duration covers are also available.

Important Policy Conditions:

Immediate Notice shall be provided to the company in writing upon incidence of accidental loss/Damage.

The company at its discretion repairs, reinstate or replace the vehicle insured.

Insured shall take all steps to defend the vehicle and company has the right to examine it at any time.