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About Oriental Car Insurance

The Oriental Insurance Company was founded in the year 1947 as a subsidiary of The Oriental Government Security Life Assurance Company Limited.The objective behind forming The Oriental Insurance Company was selling general insurance business.Later on, when the Life Insurance Corporation of India was formed in 1956,Oriental became its subsidiary till the year 1973. In 2003, the ownership was transferred to the Government of India and today the Government owns Oriental Insurance.

Today,Oriental Insurance is one of the four public sector general insurance companies with more than 1800 offices in India. The company also has an international presence in Dubai, Nepal and Kuwait and enjoys the trust of its customers.

Oriental Claim Settlement Ratio

94%

Oriental

94.67%

Industry Average

Car claim settlement ratio is the percentage of claims settled against the total claims received by the insurance company in a given fiscal year. Oriental has a claim settlement ratio of 94%, as compared to the industry average of 94.67%.

Oriental Car Insurance Plans Overview

Oriental car insurance offers 2 car insurance plans. The premium of these plans starts from Rs. 1994/yr. Details of the comprehensive coverage provided by the following 2 Oriental car insurance plans are listed below:

Oriental Comprehensive Car Insurance

Starting Premium- ₹ 3,005/yr

There are types of Oriental Comprehensive plans

  1. Comprehensive policy

A comprehensive car insurance policy is a policy which offers a wider scope of coverage. The policy covers the mandatory third-party liability and also the damages that the car itself suffers. Coverage under the plan is, therefore, allowed for the following contingencies

  1. Death of an individual in an accident involving the car
  2. The physical injury suffered by an individual in an accident involving the car
  3. Damage to an individual’s property by the car
  4. Damages suffered by the car because of natural disasters like earthquakes, lightning, landslides, cyclones, etc.
  5. Damages suffered by the car because of man-made disasters like self-explosion, fire, theft, malicious acts, etc.
  6. Damages suffered by the car when it is being moved from one place to another through air, water or land

There is also a personal accident cover which covers the owner/driver of the car against accidental deaths and disablements. The cover is available for INR 15 lakhs and it pays a lump sum benefit if the owner/driver of the car suffers an accidental death, permanent total disability or permanent partial disability.

Moreover, if you buy the policy from the branch of the company located in Delhi, Haryana, Punjab, Rajasthan, Himachal Pradesh, South Indian states, Mumbai or Kolkata, free emergency services would be allowed if your car breaks down. The company would give you free towing facilities to take your car to the nearest garage.

Oriental Third Party Car Insurance

Starting Premium- ₹ 1,994/yr

There are types of Oriental Third Party plans

  1. Liability only policy

A liability-only policy is mandatory as per the rules stated in the Motor Vehicles Act, 1988. This policy covers the legal financial liability which the car-owner faces if the car causes third party injuries or property damage. Third-party is considered to be an individual apart from the insurance company and the owner of the car. Liability only policies cover the following instances

  1. Death of an individual in an accident involving the car
  2. The physical injury suffered by an individual in an accident involving the car
  3. Damage to an individual’s property by the car

Coverage for death is unlimited but for damage to property, coverage is limited to INR 7.5 lakhs.

Premiums of liability only policies are fixed by the Insurance Regulatory and Development Authority of India (IRDAI). They depend on the engine capacity of the car and the coverage duration. As per the latest changes made by the IRDAI, for new cars bought on or after 31st September 2018, the liability only policy would have to be taken for three consecutive years. Older cars, however, can opt for a one-year coverage only. The premiums for both these durations have also been specified by the IRDAI.

They are as follows

The cubic capacity of the car The third-party premium for one year term The third-party premium for a three-year term
Up to 1000 cc INR 2072 INR 5286
1001 cc to 1499 cc INR 3221 INR 9534
More than 1500 cc INR 7890 INR 24,305

Oriental Premium Calculator

Use our Oriental car insurance premium calculator to estimate Oriental car insurance premium for your car within 30 seconds

Add-ons Available Under Oriental Car Insurance Plans

Add-ons are additional coverage benefits which can be chosen voluntarily by paying an additional premium. Add-ons help increase the scope of coverage of the Car insurance policy. Oriental Car insurance plans offer the following types of add-ons with the comprehensive policy:

Comprehensive Oriental car insurance policies allow you optional coverage benefits which are called add-ons. These add-ons are available at an additional premium and you can choose as many add-ons as you want with the basic policy. The add-ons available under Oriental car insurance plans are as follows –

  1. Nil Depreciation Cover

Depreciation of the car and its parts are not covered by the policy. When the car is damaged and is sent for repairs, the parts of the car can undergo replacement or repair. In that case, when paying a claim, the insurance company deducts the applicable depreciation from the parts which have been repaired or replaced. The rate of depreciation which is deducted depends on the parts of the car and is as follows

Types of parts of the car Rate of depreciation applicable
Rubber, plastic or nylon parts 50%
Fibreglass parts 30%
Tyres and tubes 50%
Metal parts As per the depreciation of the Insured Declared Value of the car

Since the depreciation is deducted, the claim amount becomes low and you have to pay the deducted cost out of your pockets. This is where the Nil Depreciation add-on comes to the rescue. This add-on nullifies the applicable rate of depreciation and the insurance company pays you the full cost of the parts of the car which have been repaired or replaced.

If you lose your personal belongings while they were placed in the car, the add-on would give you compensation for the loss suffered. Items such as cash, laptops, credit cards and mobiles would not be covered. The coverage limit can be INR 5000 or INR 10,000 and the premiums for them would be INR 400 and INR 650 respectively.

If your car is damaged and the extent of damage is such that the repairs would cost more than 20% of the Insured Declared Value, this add-on cover would become applicable. As per the cover, you would get a daily allowance for up to 15 days @ INR 400 or INR 650. This allowance would allow you to arrange for an alternate car for the time that it takes for your vehicle to be repaired.

Exclusions Under Oriental Car Insurance Plans

Oriental car insurance plans, whether liability-only policies or comprehensive policies, do not cover the following types of claims

  1. Claims incurred when driving without a valid driving license
  2. Claims incurred when driving outside the territorial borders of India
  3. Claims incurred when driving under the influence of alcohol
  4. Claims incurred when engaging in acts of criminal nature
  5. Normal wear and tear of the car or depreciation
  6. Mechanical breakdowns or electrical breakdowns
  7. Claims incurred if the car was not used within its usage limitations
  8. Consequential losses

How To Raise A Claim Under Oriental Car Insurance

There are three types of claims which can incur in an Oriental car insurance policy. These claims and their process are listed below

  1. Third-party claims
    If any third party is physically hurt or killed by the car or if you damage someone’s property, a third-party claim would occur. In the case of this claim, the claim process is as follow
  • Inform the insurance company immediately of the claim that you have suffered
  • File a police FIR at the local police station
  • The claim would be taken to the motor accidents tribunal where a judgement would be passed stating the liability that you face
  • Inform the insurance company of the stated liability
  • The insurance company would pay the claim and settle your liability
  1. Theft of the car
    If the car is stolen, it would be a case of theft. The claim process would be as follows
  • Inform the insurance company immediately of the claim that you have suffered
  • File a police FIR at the local police station
  • The police would try and locate the stolen car. If they cannot do so, they would issue a non-traceable certificate
  • This certificate should be submitted to the insurance company for settlement of the claim
  • The insurance company would verify the claim and pay the IDV of the policy
  1. Damage suffered by the car
    If the car suffers any damage which is covered under the policy, it is called an own damage claim. The claim process for this claim is as follows
  • Inform the insurance company immediately of the claim that you have suffered
  • The company would inform you of the nearest preferred garage wherein you can claim cashless claim settlements
  • Take your car to the nearest garage. You can also claim free towing services if you have bought the policy from specified branches of the company
  • Once the car is at the garage, the surveyor of the insurance company would visit the garage and estimate the damages suffered
  • The surveyor would prepare a claim report and submit it to the insurance company
  • The company would then approve the claim based on the surveyor’s report
  • Once the claim is approved, the garage would repair your car and you can take the delivery after the claim is settled.

There is another way to get the claims of your car insurance plans settled. This is through Turtlemint. If you are an existing Turtlemint customer, you can simply call the company at 1800 266 0101 and inform it of the claim. You can also send an email at claims@turtlemint.com to intimate the company of your car insurance claim. Once informed, Turtlemint’s claim department would work on your claims on your behalf. They would follow all the necessary steps and ensure that you get the settlement of your claims at the earliest.

Documents Required For Claims

Documents required for car insurance claims
The following documents would have to be submitted for car insurance claims

  • RC book of the car
  • Driving license
  • Police FIR (in case of theft or third party claims)
  • PUC certificate of the car
  • The claim form, filled and signed
  • Identity proof of the policyholder
  • Any other documents required by the insurance company

Oriental Customer Care

Customer Care Number

Oriental Car Insurance Renewal Process

Renewal of Oriental car insurance plans can be done by paying the renewal premium. This premium can be paid directly at the office of the company or online on the company’s website. You can also renew the policy through Turtlemint if you are an existing customer. Just pay the renewal premium and the policy would be renewed instantly.

Documents required for renewing Oriental car insurance:You would have to submit the following documents to buy or renew Oriental car insurance plans

  1. RC Book of the car
  2. Invoice of the car
  3. Your identity proof
  4. Address proof
  5. Age proof
  6. Copy of the driver’s license

FAQs

Oriental car insurance policies allow premium discounts for the following

  • If you choose a voluntary deductible under the plan and choose to pay a part of the claim yourself, you can get a premium discount
  • If you install an anti-theft device in the car, you can get a premium discount
  • If no claim is made in the last policy year (s), a premium discount is allowed
  • If you are a member of an automobile association, you get a premium discount

The no-claim bonus which is available under Oriental car insurance policies depends on the number of successive claim-free years. The rates are as follows

Number of successive claim-free years No claim bonus available
1 20%
2 25%
3 35%
4 45%
5 50%

If the car is severely damaged such that the repair costs would exceed 75% or 80% of the Insured Declared Value of the car insurance policy, the damage is considered to be a Total Constructive Loss. In this case, the IDV is paid after deducting the scrap value of the car.

If the car insurance policy is not renewed within the due date, the policy would lapse. As the policy lapses, coverage stops. Moreover, when you renew a lapsed policy, renewal would be allowed only after an inspection is done by the insurance company. If the policy is not renewed for more than 90 days, the accumulated no claim bonus would also be lost.
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