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30th March 2016, 04:25 PM
Super Moderator
 
Join Date: May 2012
Re: Oriental Insurance Two Wheeler

Oriental Insurance is one of the leading insurance providers in India and Oriental two-wheeler insurance is one of the most sought out product in the insurance market.

Features & Benefits

No paperwork required.

You can receive the insurance copy instantly in your email.

You will be entitled for no claim bonus when you renew the plan if no claim has been made in the previous year.

Avail complementary servicing at partner workshops across the country.

There is an option to get cover for your co-passenger.

Insurance Sum:

The total sum of insurance will be Insured Declared value of the Vehicle (IDV).

IDV for two wheelers bought in the last five years is the industry price minus the depreciated value per year.

For bikes older than five years of age and outmoded vehicles, the IDV is usually a price jointly agreed by the parties involved.

Calculation of Sum Assured for Oriental Bike Insurance

In short, the formula for calculating sum assured for Oriental two Wheeler Insurance is as follows.

Sum Assured = (Listed Selling Price of the vehicle - cost of depreciation) + (cost of accessories that are not included in the listed selling price)

It is important to note that the sum assured excludes the insurance and registration costs.

Policyholders must calculate the sum assured before obtaining a policy because it is the amount that you will get in case your two wheeler is lost or damaged.

Coverage:

Loss or damage to the bike due to an accident

Liability to third party victim and personal accident coverage to the rider/ owner

Choose the add-on covers you want by paying additional premium.

Loss or damage to the vehicle due to theft, fire, explosion, natural disasters, strikes, spiteful acts, riots, transit and more

Claim Procedure


In the event of an accident, the insurance claim process is as follows.

Note down vehicle numbers, contact info of the parties involved and witnesses.

File an FIR with these details as well as the damages incurred.

Contact the nearest Oriental Insurance office on their toll free number.

A staff will get in touch with you at the earliest and assist you with all the procedures.

Submit the necessary documents (claim-form, copy of the RC, Driving License copy, FIR copy) at the garage.

The staff will gauge the costs and approve the money (minus the costs not covered), which will be paid to the workshop directly.


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