In the bustling landscape of India's roads, where traffic congestion and accidents are common, securing comprehensive car insurance has become imperative for vehicle owners. Among the array of insurance providers, Oriental Car Insurance stands out as a prominent name, offering a shield of protection to countless drivers across the nation. In this article, we delve into the difficulty of Car Insurance, aiming to equip you with a comprehensive grasp of its pricing structure, diverse coverage options, and the underlying factors that shape the premiums.
Oriental Car Insurance has solidified its reputation as a critical player in the Indian insurance landscape. With a fixed commitment to providing financial security and peace of mind to car owners, the company has emerged as a go-to choice for those seeking reliable coverage. Whether it is the bustling streets of metropolitan cities or the winding roads of rural towns, Oriental Car Insurance has established itself as a reliable partner in times of uncertainty.
As we embark on this exploration, keep in mind that choosing the right car insurance isn't merely a financial decision – it is an investment in your peace of mind and security. So, without further ado, let us journey into the realm of Oriental Car Insurance and unravel the layers of pricing, coverage, and protection that await.
- Claim Settlement Ratio: 81.83%
- Cashless Garages: 2000+
- Solvency Ratio: 1.40
- Branches: 1800+
- Claims Settled: 18 lakhs.
What is Oriental Car Insurance Online?
Oriental Car Insurance is a well-known insurance company in India that many vehicle owners trust. They have been around for a long time and are known for being reliable. They are committed to making sure people have safe journeys. People think of Oriental when they want good coverage and helpful customer service. Since they started, they have worked on making their insurance options better to match what Indian drivers need. So, if you're looking for protection in case something goes wrong on the road, Oriental Insurance is a popular option.
The company provides great and innovative products for its customers. Car insurance is one of them. Oriental Insurance claim settlement ratio of 91.5% and an efficiency ratio of 81.83% compared to all the other car insurance companies. The company offers a single plan called Motor Package Insurance Policy for its customers. This plan is packed with all the essential benefits that a person & his/her car may need at the time of an emergency.
Benefits & Features of Oriental Car Insurance Policy:-
Oriental Insurance offers a range of benefits and features that make their policies a wise choice for vehicle owners. Let us explore what sets their insurance apart:
- Quick and Efficient Claims
- Comprehensive Coverage
- Personalized Add-ons
- 24/7 Roadside Assistance
- Cashless Repairs
- No Claim Bonus (NCB) Benefits
- Personal Accident Cover
- Transparent and Customer-Friendly Approach.
Types of Oriental Car Insurance Plans
Oriental Insurance offers car insurance plans to cover your vehicle against any damages that may be incurred to you or by your vehicle. Motor insurance plans keep you financially protected in case of an unfortunate accident that may cause disability, property damage, or death. You can insure your car and stay financially protected. Oriental offers different types of coverage to make sure you are protected in different situations when you are driving. Let us take a closer look at what they provide:
- Private Car Insurance Plan
- Commercial Vehicle Plan
- Liability Only Plan.
1. Oriental Private Car Insurance Plan
Oriental Private Car insurance plan protects you from Loss or damage to your private car caused by Burglary, Housebreaking or Theft, Fire, Explosion, Self-Ignition & Lightening, Earthquake, Flood, Storm, Landslide or Rockslide, Inundation, Terrorism, Riots, Strikes, Malicious Acts. Oriental Private Car Insurance offers two types of car insurance plans:
- Third party liability cover
- Comprehensive car insurance
a.) Third Party Liability Car Insurance
Oriental third party covers all third party liabilities like bodily injuries, temporary/permanent disability, death of a third party as well as third party property damage up to Rs. 7.5 lakh. Under the third-party cover, you also get covered against accident. The owner-driver gets a personal accidental cover with coverage up to an amount of Rs. 2 lakhs in the case of death or permanent disability caused while driving the insured car.
b.) Comprehensive Car Insurance
In addition to all third party liabilities, a comprehensive policy also provides insurance for damages incurred by the insured’s car in any road accident, natural/man-made calamity, theft, fire, etc.
| What is Covered? |
What is not Covered? |
- Accidental Loss of or damage to the Vehicle
- Liability to third parties, Personal Accident cover to owner-driver
- Various Add on Covers on extra premium.
Add-ons:-
- NCB Protection
- Return to Invoice Value Protection
- Engine Protection
- Key & Lock Protection
- Consumables Protection
- Roadside Assistance.
|
- Damage by a person driving without a valid driving license
- Mechanical or Electrical breakdown and failure
- Damage to tyres/tubes of the Car, unless damage to the vehicle in the accident with liability
- Damage by a person driving under the influence of Liquor/Alcohol/Drugs
- Depreciation, any consequential loss
- Loss/Damage attributable to War/Mutiny/Nuclear risks
- Damage, outside India unless covered by extra premium for Nepal, Bhutan & Bangladesh, Pakistan, Sri Lanka &Maldives.
|
2. Oriental Commercial Vehicle Insurance Plan
The oriental commercial vehicle plan is calculated to cater to the protection needs of vehicles used for commercial purposes. Such vehicles generally travel to larger distances and on roads that are not well maintained. The value of the goods is associated with the vehicle carrying it and hence the insurance to cover both is more critical.
What is Covered?
- Accidental death benefits for driver-owner of the vehicle
- The coverage period is for one year, however shorter duration covers are also available
- No coverage in case of damage to property
- Coverage for Pan India Locations
- Nil Depreciation cover in the plan is available on additional premium to cover the full value of parts in claim of partial damages to the vehicle.
- The insured declared value, shall be projected as the sum insured for the vehicle.
3. Oriental Liability Only Insurance Plan
This has been considered to meet the requirements as per mandatory clauses of Motor Vehicles Act. This plan covers two most critical aspects of the motor vehicle’s act.
| What is Covered? |
What is not Covered? |
- Personal accident cover: A personal accident cover of Rs. 2 lakh is provided for individual owner-driver of the vehicle insured while traveling in, mounting, or dismounting from the vehicle. The cover is for death and any kind of permanent disability
- Third Party Liability: Liability Only plan in third-party provides complete protection against legal liability arising due to accidental damages, any permanent injury/ death of a person, and/or any damage caused to the property.
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- Mechanical or electrical breakdown, depreciation, wear and tear.
- In the event of any loss or damage or liability which has happened beyond the geographic area as defined in the plan
- For any loss or damage in case any third person other than a Driver as stated in the Driver’s clause is driving the vehicle.
- Vehicles being driven without a valid license
- In the event of any war and nuclear perils.
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Oriental Car Insurance Prices in India
The premium of Oriental insurance online depends on several factors viz. type, IDV of vehicle, make, model, cc, usage, place of registration, past claims history, etc. of the vehicle. You can approach the underwriting office with vehicle details for an exact premium or simply use a car insurance premium calculator. Below are a few premium samples for your better understanding.
| Car Model |
Coverages |
IDV |
Zero depreciation cover |
Premium |
| Toyota |
Comprehensive |
10. 34 lakh |
3558 |
Rs. 8,000* - Rs. 10,000* |
| Ford |
Comprehensive |
4.03 lakh |
2158 |
Rs. 12,000* - Rs. 14,000* |
| Renault |
Comprehensive |
2.19 lakh |
879 |
Rs. 18,000* - Rs. 22,000* |
| TATA |
Comprehensive |
4.23 lakh |
1390 |
Rs. 10,000* - Rs. 20,000* |
*The above mentioned values are for user reference only. For exact queries compare car insurance quotes.*
Comparing Oriental Car Insurance Prices with Other Competitors:
When it comes to car insurance in India, Oriental shares the stage with several other major insurance providers. Let us take a quick look at the landscape, highlighting what sets Oriental apart and why it is worth considering:
Other Major Car Insurance Providers in India:
- New India Assurance: New India Assurance known for its extensive network and customer base.
- ICICI Lombard: ICICI Lombard recognized for its digital solutions and comprehensive coverage options.
- HDFC ERGO: HDFC ERGO offers a range of value-added services and customizable coverage.
- Bajaj Allianz: Bajaj Allianz popular for its diverse add-on options and fast claim settlement.
- United India Insurance: United India trusted for its wide array of insurance products, including car insurance.
Oriental Insurance's Unique Features:
1. Comprehensive Coverage: Oriental offers robust coverage options, including Third-Party Liability and Comprehensive Insurance. Their comprehensive coverage ensures that you're safeguarded against a multitude of risks.
2. Personalized Add-ons: They provide a range of optional add-ons that allow you to tailor your policy to your specific needs. Whether it's protecting your car's value over time or getting assistance during breakdowns, these add-ons enhance your coverage.
3. Quick Claims Process: Oriental is known for its efficient and streamlined claims settlement process. This means less hassle and quicker resolution in times of need.
4. Roadside Assistance: With 24/7 roadside assistance, Oriental ensures you're never stranded on the road. This feature adds an extra layer of support to your driving experience.
5. Transparent Approach: Their focus on transparency in policy wording and clear communication sets them apart as a customer-centric insurer.
| Criteria |
Oriental Car Insurance |
New India Assurance |
ICICI Lombard |
Bajaj Allianz |
| Basic Coverage Type |
Comprehensive |
Comprehensive |
Comprehensive |
Comprehensive |
| Mid-range Sedan |
Rs. 12,500 |
Rs. 13,800 |
Rs. 12,900 |
Rs. 14,000 |
| Premium SUV |
Rs. 15,000 |
Rs. 14,500 |
Rs. 15,800 |
Rs. 15,200 |
| Add-on Options Available |
Yes |
Yes |
Yes |
Yes |
| Roadside Assistance Included |
Yes |
Yes |
No |
Yes |
| Personal Accident Cover |
Included |
Included |
Included |
Included |
| No Claim Bonus (NCB) Benefits |
Yes |
Yes |
Yes |
Yes |
| Online Policy Purchase Available |
Yes |
Yes |
Yes |
Yes |
*The above mentioned values are for user reference only. For exact queries compare oriental car insurance quotes.*
Oriental Insurance stands as a reputable choice in the realm of car insurance in India, offering comprehensive coverage, personalized add-ons, and customer-oriented features. While they have their strengths, exploring quotes from other major insurance providers empowers you to make an informed decision that suits your individual needs and preferences.
Tips for Lowering Oriental Car Insurance Premiums
Car insurance premiums can be managed effectively with a few strategic choices. Here are some tips to help you reduce your car insurance costs while still maintaining essential coverage:
1. Opt for a Higher Voluntary Deductible: The deductible is the amount you agree to pay out of pocket before the insurance kicks in. By choosing a higher deductible, you're essentially sharing a greater portion of the risk with the insurer. This often results in a lower premium, but remember that you'll need to be prepared to pay the chosen deductible in case of a claim.
2. Install Anti-Theft Devices and Safety Features: Enhancing the security of your vehicle not only reduces the risk of theft and damage but can also lead to lower premiums. Installing anti-theft devices like alarms, immobilizers, or GPS trackers can make your car less attractive to thieves, prompting insurers to offer discounts. Similarly, vehicles equipped with safety features like airbags, anti-lock brakes, and stability control can also lead to lower premiums due to reduced accident risks.
3. Accumulate and Utilize No Claim Bonus (NCB): The No Claim Bonus (NCB) is a reward for being claim-free during a policy year. It accumulates over time, offering you increasing discounts on your premium when you renew your policy. By driving safely and avoiding claims, you can significantly reduce your premium costs over the years.
4. Avoid Unnecessary Add-ons and Riders: While add-ons and riders can enhance your coverage, they can also increase your premium. Assess each add-on carefully to determine if it aligns with your needs. Avoid paying for coverage you may not require. For example, if your car is relatively new, a zero depreciation add-on might be useful, but for an older car, it might not be as cost-effective.
5. Drive Safely and Maintain a Clean Record: A history of safe driving can go a long way in keeping your premiums low. Avoid traffic violations and accidents to maintain a clean driving record. Insurers reward cautious drivers with lower premiums.
6. Compare Quotes from Different Insurers: Don't settle for the first quote you receive. Different insurers offer varying rates based on their calculations and underwriting policies. Comparing quotes from multiple insurers gives you a better understanding of the range of premiums available to you.
7. Choose a Suitable Car Model: Before purchasing a car, consider the insurance implications. Certain car models have lower insurance costs due to their safety features, repair costs, and historical claim data. Researching insurance premiums for different car models can help you make an informed choice.
Factors that Impact Oriental Car Insurance Premiums:
Car insurance premiums aren't one-size-fits-all; they are determined by a range of factors that reflect the level of risk associated with insuring a particular vehicle and driver. Here is a breakdown of the key factors that influence car insurance premium calculations:
- Car's Make, Model, and Age: The type of car you own plays a crucial role in determining your premium. High-end or luxury cars often have higher premiums due to their higher repair costs. Similarly, brand-new cars might have higher premiums compared to older models due to their higher value.
- Insured Declared Value (IDV) of the Car: The Insured Declared Value (IDV) is the market value of your car, and it impacts your premium directly. If your car's IDV is higher, your premium will be higher too. This is because a higher IDV means more coverage for your car's potential repairs or replacement.
- Engine Capacity and Cubic Capacity: The size of your car's engine, often measured in cubic centimeters (cc), affects your premium. Cars with higher engine capacities may have higher premiums because they're generally associated with more powerful and potentially riskier vehicles.
- Geographical Location (City-Specific Risks): Where you live matters. If you're in an area with high traffic congestion, theft rates, or a history of accidents, your premium might be higher. Urban areas and cities often have higher premiums compared to rural areas.
- Age and Driving Experience of the Policyholder: Younger drivers and those with less driving experience generally face higher premiums. This is because statistics show that younger and inexperienced drivers are more likely to be involved in accidents. As you gain more experience and build a safe driving record, your premium can decrease.
- No Claim Bonus (NCB) and Its Impact on Premiums: A No Claim Bonus (NCB) is a reward for not making claims during a policy term. It can lead to a discount on your premium when you renew your policy. The longer you go without making a claim, the higher your NCB, and the more you can save on your premium.
- Optional Add-ons and Riders: Car insurance policies often come with optional add-ons and riders that can enhance your coverage. These add-ons, like zero depreciation or roadside assistance, can raise your premium. However, they also provide additional protection tailored to your needs.
How to Purchase Oriental Car Insurance Online?
Oriental insurance can be purchased online from the PolicyBachat portal in two easy steps. At PolicyBachat, we cater to unbiased comparison of quotes, and a 24*7 customer assistance team whose motive is to give our customers the right quotes with comparable car insurance rates online.
- Go to compare car insurance quotes online at PolicyBachat.com
- Fill in the required details and select your Car Model & Variant, RTO Location, Registration date, and Email address.
- Click on “START SAVING MONEY”.
- Choose between a Third-Party Liability Only and a Standard Package (Comprehensive Insurance).
- Premiums with different insurance companies are displayed with low premiums
- Select required Add-ons/Riders and discounts, or you can Edit Policy Details as per your requirement
- After that fill in the ‘vehicle owner details and personal details.
- Purchase the best Car Insurance Policy using online payment.
- If any queries are raised call: 1800–123–4003.
How to Claim Oriental Car Insurance?
To register claims with the Oriental Insurance Company, you need to follow the steps mentioned below:
- Immediately contact the policy issuance office and Inform Oriental Insurance about the accident/theft/third-party claim. You can do the same by visiting the official website of the company.
- Login to your account. The company will demand several details from you such as policy number, date & time of theft/accident, the car's location, insured's name & contact number, etc.
- You have to submit a claim form along with various documents such as photocopies (of driving license, policy & RC), car's photos, survey reports, damage estimates, bill of final repair, FIR report, No Trace Report, etc.
- Once this is done, the surveyor/company's executive will check the damages, get the repairs done in Oriental's cashless garage, and release the claim in no time. For more information, you can connect with the team of Oriental Insurance Company.
For accidental injuries:
- The policyholder should immediately send a written notice to the insurance company with all relevant documents.
- The claim form should be duly filled in and submitted along with the following documentation:
- Medical certificate that specifies the nature of the injuries
- Report from the medical examiner
- Details of the treatment availed
- Name of the hospital/nursing home/doctor
- Employer’s certificate that states that the policyholder was on leave for the duration specified in the claim
- Fitness certificate of the policyholder
For accidental death:
The following documents need to be submitted by the claimant in the event of an accidental death:
- FIR or police report
- Post-mortem report
- Panchnama
- Departmental inquiry, if applicable
- Report from the hospital/nursing home/doctor
- Death certificate
The Oriental car insurance claim process is easy and hassle-free if you follow the guidelines and report the incident on time. The insurer also resolves all claims and makes the necessary pay-outs within the shortest possible time.
For theft:
- If your car has been stolen, you should immediately inform the office from where the policy was issued.
- You should also submit a written notification to Oriental Insurance.
- The insurer will then designates a surveyor for investigations. It is also necessary to notify the police and file an FIR.
- Any delays in notifying the police or the insurance company may jeopardize the claim settlement process.
FAQs of Oriental Car Insurance:
How Can We Check Policy Number of Oriental Car Insurance?
For insurance policy numbers you can directly contact the oriental insurance company from which you have taken the insurance policy and submit your details such as phone number, email id, or other details such as Engine number and Chassis number.
How to Check Oriental Car Insurance Policy Status?
Oriental Car Insurance Policy Status can be checked by contacting the intermediary from whom the policy was taken or the insurance policy status can be found on the mParivahan app which displays the start date and end date of the insurance policy. If you can remember the intermediary from whom the policy was taken you can talk to them about the status of the policy or in case if you have taken the policy from PolicyBachat then you can call our customer care to enquire on the insurance policy status.
How to Download Oriental Car Insurance Policy Copy?
Oriental Car insurance policy copy can be checked by contacting the intermediary from whom the policy was taken or alternatively, the insurance policy copy can be found on the mParivahan app, which displays the start date, and end date of the insurance policy. If you can remember the intermediary from whom the policy was taken, you can talk to them about the status of the policy, or in case if you have taken the Oriental general insurance policy from PolicyBachat then you can call our customer care to enquire about the insurance policy.
What is the Policy Cancellation Process for Oriental Car Insurance?
You can submit the policy documents to your nearest branch. The refunds will be directly credited to your bank account, after deducting applicable cancellation charges.
Conclusion:-
In conclusion, choosing Oriental Car Insurance in India offers a comprehensive and tailored solution for your vehicle protection needs. With its range of coverage options, personalized add-ons, efficient claims process, and customer-friendly approach, it provides a reliable shield against the uncertainties of the road. By considering factors such as your car's make, model, and individual driving history, you can make an informed decision that aligns with your budget while ensuring your peace of mind on every journey, not only for purchasing by renewing oriental car insurance policy also.