Oriental Insurance has been a leading name in the insurance sector in India for quite some time now. The company was established in 1947 and is registered with the IRDAI to sell non-life insurance products in the country. The headquarters of the company is in Delhi, along with 31 offices in different regions and 1800 operating offices across India.

Oriental insurance grown immensely from its initial days and now employs more than 14,000 people pan India. The public sector insurance firm specializes in two-wheeler insurance, commercial insurance, health insurance, agriculture insurance, shopkeeper insurance, etc. Seeing its growing popularity, the insurer also has expanded its services to Nepal, Dubai and Kuwait. And during the year 2016-2017, the company managed to earn INR 11,000 crore in global premiums. The premiums earned by the company has seen massive growth from the initial days where the company had managed to earn INR 99,946 for the very first year.

Why opt for Oriental Insurance?

Here are some prominent reasons why Oriental insurance might be a good choice for all your insurance needs.

  1. The brand has seen a steady growth of 5.57% when it comes to the gross premium that it has earned, in India as well as abroad
  2. Oriental Insurance managed to earn INR 2.29 crore as premiums till the 30th of June 2019
  3. You can get access to insurance policies and other details by walking into any of the 1800+ branch offices across India
  4. The company boasts of a quick turnaround time when it comes to policy claims along with excellent customer service

Oriental two-wheeler insurance plans

There is no denying that Indian roads are a dangerous place to drive or ride your vehicles. One might think that they are careful riders, but accidents might take place due to the mistake of someone else. If you own a bike, buying Oriental bike insurance is one of the easiest ways to keep such fears away. There are a lot of risks involved when you take your bike out for a spin or to run errands.

Oriental bike insurance offers you protection against various unknowns that one might be subject to while riding. The bike insurance policy on offer by Oriental insurance would not only be light on your pockets but offer comprehensive coverage at the same time.

Features and benefits under Oriental two wheeler insurance

The bike insurance policy from Oriental insurance offers the following features and benefits.

  1. Unlike a lot of other insurance companies in the market, you can buy Oriental bike insurance for shorter periods, even less than a year
  2. Policyholders have the option to buy or renew their policies online, from the convenience of their homes
  3. You get access to free roadside emergency assistance in the event of an accident
  4. You can secure various discounts in the form of No Claim Bonus, installation of anti-theft devices, being a part of automobile associations of India
  5. Oriental Insurance offers a quick settlement of the insurance policies, keeping you away from usual hassles
  6. The policy offers coverage for co-rider or pillion
  7. The brand has tie-ups with various garages across the countries, where you can avail cashless services
  8. For every year that you do not claim the policy, you can avail discount in the form no claims bonus
  9. The brand offers the flexibility to choose from various payment options when you buy the policy online
  10. Oriental insurance two wheeler policy also allows policy buyers to choose from several smart add-ons to enhance their policy capabilities

Types and details of plans offered of Oriental Bike Insurance Plans

If you opt to buy Oriental bike insurance, you have the option to choose from two distinctive plan types. You can either buy a third-party liability policy or a comprehensive two-wheeler policy.

  1. Oriental Bike Insurance Third-Party Liability Plan

    A third-party liability policy is the bare minimum policy that you can buy for your bike. The Motor Vehicles Act of 1988 mandates all vehicles to have a third party liability policy at the minimum. In the event of an accident that involves other individuals or properties, the policy has your back. The liability cover compensates for any injuries or death of an individual involved in an accident or property damages as well.

    A recent modification to the rule ensures that all new bikes sold in the country come with five years of third-party liability policy as a mandate.

  1. Oriental Bike Insurance Comprehensive Policy

    Oriental insurance two wheeler comprehensive cover offers much more value for your money. As the name suggests, it offers comprehensive coverage. The plan includes mandatory third party liability and builds on it. It offers coverage against natural calamities, damages to the vehicle during transit, man-made nuisance such as riots, vandalism, etc.

    You can opt for personal accident cover of up to INR 15 lakhs along with the policy. Should you already have any other insurance with a cover of higher than INR 15 lakhs, you can choose to skip this component.

Coverage and exclusions with add-on covers of Oriental Bike Insurance Plans

Before buying any insurance policy, it is in your best interest to go through the policy documents briefly. Even if you do not understand every word, it is advisable that you make a note of the coverage and exclusions.

Coverage is all the scenarios where your policy will stand its ground and exclusions are all the scenarios where it will not. Knowing the coverage and exclusions of policy will make you a better policy buyer and at the same time, reduce chances of claim rejections.

Your Oriental bike insurance would cover the following things.

  • Any liabilities to third party individuals or properties as a result of an accident with your vehicle
  • Personal accident cover for the policyholder up to a maximum of INR 15 lakhs for the death of the insured or disability caused due to accidents
  • Any sort of damage to the vehicle during an accident or if it gets stolen
  • Any loss or damage due to external factors causing an accident
  • Any loss or damage due to burglary, theft, or housebreaking
  • Any damages due to natural calamities such as earthquake, flood, cyclone, landslide, etc.
  • Any damages due to fire, lightning, explosion or self-ignition
  • Any damages due to man-made calamities such as strike, riot, terrorism, malicious activities, etc.
  • Any damages to your bike while it is in transit, either by rail, water or air

Exclusions of Oriental Bike Insurance Plans

Your Oriental insurance two wheeler policy does not cover the following.

  1. The policy coverage stands invalid if the rider of the bike is riding without a driving license
  2. Any loss or damage to the accessories of the bike due to burglary, theft or housebreaking, unless the bike is stolen
  3. The policy does not cover any electrical or mechanical breakdown of the bike
  4. The plan does not cover consequential loss or depreciation
  5. Any damages or injuries caused while the rider of the bike was under the influence of intoxicants or alcohol
  6. Any damage or loss of the bike due to war-like situation, nuclear perils, etc.
  7. If the bike was used for speed testing, racing, reliability tests, rewards, etc.

Add-Ons of Oriental Bike Insurance Plans

Should a policyholder feel that the policy coverage is not adequate and that they need more, add-ons can save the day. An add-on or rider is additional capabilities that you can plug into your Oriental insurance two wheeler plan to further improve its coverage. Here are all the add-ons that you can choose from.

  1. Zero Depreciation
  2. Usually, in the case of a claim or repair, the insurer compensates after accounting for depreciation. And policyholders end up paying the difference. However, with a zero depreciation cover or nil depreciation cover, you don’t have to pay for the depreciation from your pockets. During claims, the insurance company will compensate with the actual amount and not account for depreciation.

  3. Return to Invoice
  4. Should you opt for this add-on, Oriental insurance will pay the amount of bike mentioned in the invoice without considering the current IDV of the bike. This rider is apt for situations where your bike might get stolen or is destroyed beyond repair.

  5. Engine Protection
  6. The engine is one of the most important parts of the bike and getting a cover for the same makes sense. The rider covers any damage to the engine of a bike including oil leakage, starting while the engine is wet, malfunctioning of gears, etc.

  7. Personal Accident Cover
  8. You can opt for this rider for an unnamed person. Thus, it can be used for the pillion rider or the person who is riding the bike but is not the insured. It offers coverage against injuries or damages caused by accidents.

  9. Permanent Disability
  10. Accidents might lead to a permanent or temporary disability of the insured. A permanent disability such as loss of eyes or loss of hands or legs can bring the finances to a screeching halt. The total and permanent disability cover ensures that you get adequate coverage in such times.

  11. Legal Liability
  12. There might be cases where a bike owner hires or asks another person to ride the bike. In the case of an accident, the bike owner is responsible for any liabilities arising out of the situation. Having this add-on would reduce the burden of any legal liability from your shoulders.

Rate of Depreciation of Oriental Bike Insurance Plans

Oriental bike insurance follows the below depreciation rate for its different bike parts.

Bike’s Age

Depreciation in %

Up to 6 months from buying the plan

NIL

Between 6 months and a year of buying the plan

5

Between 1 year and 2 years of buying the plan

10

Between 2 years and 3 years of buying the plan

15

Between 3 years and 4 years of buying the plan

25

Between 4 years and 5 years of buying the plan

35

Between 5 years and 10 years of buying the plan

40

Above 10 years of buying the plan

50

Discounts offered by Oriental two-wheeler plans

While buying or renewing your Oriental insurance two wheeler policy, you can avail of certain discount types. These essentially help you reduce the policy premiums without cutting down on the coverage of the policy. Here are the major discounts that you can avail of.

  1. No Claims Bonus
  2. For every year that you do not make any claims, you can seek discounts in the form of no claims bonus or popularly known as NCB. For the very first year, you can earn a 20% NCB bonus and it goes up to a maximum of 50%. You can only accumulate NCB up to 50% or for five consecutive years. It is important to note that the NCB is awarded to the policyholder and not the policy. Thus, you will be able to carry it forward to another bike as well.

  3. Automobile Association
  4. Should you decide to be a part of any automobile associations in the country, you can earn an additional discount on the policy premium during renewals. It includes associations such as the Automobile Association of India (AAI) and the Western India Automobile Association (WIAA).

  5. Install Anti-Theft device
  6. The ARAI or Automotive Research Association of India lists certain anti-theft systems on their website. You can install these devices to improve the security of your vehicle and at the same time get some discounts as well. Installing an anti-theft device will bring down the own damage component of the policy by 2.5%.

  7. Voluntary Deductible
  8. A deductible is an amount that a policyholder must pay while claiming the policy. The voluntary deductible in your bike insurance policy can help you reduce the policy premiums. If you opt for a higher voluntary deductible, the premiums would come down accordingly.

Buy Oriental Bike Insurance Plans

You have the options to either buy Oriental bike insurance plan either online or offline. The offline mode is the more traditional method where you must interact with an insurance advisor or visit any branch office of Oriental insurance to buy a policy.

Buying your bike insurance online is much easier. You can either visit the website of Oriental Insurance and look for the buy option or visit Turtlemint to buy a policy online. Tutlemint is a website that lets you choose from various options when it comes to buying bike insurance policies. You not only end up buying a bike insurance policy but the best bike insurance policy that is out there.

Turtlemint has tied up with Oriental Insurance to offer its products on its website. One of the biggest advantages of visiting Turtlemint is that you can compare Oriental bike insurance with several other policies and choose the one that best suits your needs. To buy a policy from Turtlemint, you would need to do the following.

  • Visit https://www.turtlemint.com/two-wheeler-insurance and enter the registration number of your bike to look for available plans
  • The website lets you look for plans by merely entering your bike’s purchase year and place of registration
  • Up next, you must provide the following details of your bike:
    • Manufacturer
    • Model
    • Year of manufacture
    • Fuel type
    • Variant
    • Previous policy details
    • Claims made during the previous policy
    • Previous policy provider
  • You will then be able to view the available bike insurance policies and premiums
  • Once you are satisfied with a policy, you will be able to buy the policy from the same page.

Renew Oriental Bike Insurance Plans

You can renew your Oriental insurance two wheeler policy from the website of Oriental insurance with minimal efforts. You can visit the website and search for the renew online option. Once you do select, you have two options to choose from. Either you can opt to renew existing Oriental bike insurance or renew bike insurance from other providers.

Should you choose to renew Oriental bike insurance, you must enter the existing policy number, review the policy details, personal details, and pay the policy premium if you are happy with the details. If you are coming from a different insurer and want to switch to Oriental insurance, the process is equally easy. You must select the option to renew non-Oriental insurance policy and enter the existing policy number, enter personal details, go through the policy details, view the premiums and if you are happy, continue with the payment.

Alternatively, you can visit Turtlemint to renew your bike insurance policy. If you are an existing customer, you can log in and renew your policy instantly. New users will find the website equally intuitive to look for and renew bike insurance plans. Renewing your bike insurance policy from Turtlemint provides an added layer of convenience, as you can compare policies from different insurers and pick one that suits your needs. And all this just with the click of a button. Renewing your bike insurance was never so easy.

Claim settlement process

If you wish to claim your Oriental bike insurance, you must follow the below steps.

  1. Firstly, you must inform Oriental insurance about the accident or incident by calling at their toll-free number
  2. You must then schedule a meeting with an independent surveyor appointed by Oriental Insurance to assess your bike. You can take your bike to any of the network garages to get the survey done and submit documents to the person as well
  3. Oriental insurance would then confirm the liability
  4. Should you visit any of the network garages, Oriental insurance will settle the bill directly with the garage without you having to pay from your pockets
  5. And if you go to any non-network garages, you must pay for the repairs and claim for reimbursement

The above are generic steps. However, depending on the type of claim that you want to proceed with, the steps would differ a bit. Here are some of the most situations.

  1. Accidents
    1. Inform Oriental insurance about the accident
    2. Submit the duly filled claim form
    3. File an FIR with the nearest police station
    4. Provide a copy of the driving license, policy document, RC
    5. The original estimate bill provided by the garage and invoice in the case of cashless service
    6. NOC and Form 35 from the financier of the bike in the case of a total loss
  2. Third-Party Claims
    1. Inform Oriental insurance about the accident
    2. Submit the duly filled claim form
    3. File an FIR with the nearest police station
    4. Provide a copy of the driving license, policy document, RC
  3. Theft
    1. Inform Oriental insurance about the accident
    2. Submit the duly filled claim form
    3. File an FIR with the nearest police station
    4. Submit the original keys of the bike
    5. No Trace Report submitted by the police department
    6. Forms 26,28,29,30 and Form 35

And here is an interesting bit. Irrespective of whether you bought your bike insurance form Turtlemint or not, you will still be able to raise a claim from the website. You can raise a claim from the website, and they would help you with the claim settlement. The claim handling team at Turtlemint will extend their support to help you receive your claims. You can either call them at 1800 266 0101 or send an email at claims@turtlemint.com.

Riding with valid two-wheeler insurance will not only help you avoid any hefty fines from the traffic police department but also protect you. It will protect you from any unforeseen events in the future and offer financial assistance, should anything unwanted take place. You can avail of services that Turtlemint offers to buy, renew or compare bike insurance policy and even make claims through the website.


FAQ’s

You would need to furnish the following set of documents to buy a policy with Oriental insurance.

  • Identity proof (PAN, Passport, Driving License, Aadhar, etc.)
  • Address proof (Passport, Driving License, Government identity card, etc.)
  • A photograph
  • Details of the policyholder (name, age, occupation, gender, etc.)
  • Bike’s registration number and RC

Whether you are buying a new policy or renewing an existing policy, you can choose to pay the premiums online. You would need to follow the application process (buying a new policy or renew an existing policy). The website will provide information such as the policy details and the applicable premiums. You can then opt to pay the premium either via net banking, credit card or debit card.


Yes, you can. You must submit the policy documents at the nearest branch and Oriental insurance will initiate the refund process, after deducting necessary charges.


If you have misplaced your bike insurance policy, it is recommended to inform your insurer at the earliest. The insurance company will send you a duplicate copy at the earliest. However, you might have to pay some charges for the duplicate copy.


The premium of your Oriental two-wheeler insurance is based on several factors such as the type of bike, the model of the bike, the year of manufacture, history of claims, area of registration, engine capacity, etc.

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