Oriental Bike Insurance

Oriental Insurance Company Ltd. is a public sector general insurance company known for its wide network to offer bike insurance and many other services. It was incorporated on 12th September 1947 in Mumbai but has its headquarters in New Delhi. It has spread its reach to overseas countries such as Dubai, Kuwait and Nepal. It has 31 regional offices and more than 1,800 active branches. With the backing of a motivated workforce, this company has set an example of laying down systems for the smooth and orderly conduct of bike insurance and other businesses over the years.

Oriental Insurance Company is a government-owned non-life insurance company, which offers more than 170 variants of insurance. It offers a wide range of policies such as Bike Insurance, Health Insurance, Life Insurance, etc. It has insurances that cater to the needs of not only the urban but also the rural people and as a result, it has reached out to a greater number of people satisfying their needs. The Oriental Insurance Company has expertise in devising special covers for power plants, steel, petrochemical and chemical plants apart from bike insurance and related covers.

As per the reports of 2018, Oriental insurance company has collected a premium of Rs.11452 crores in a financial year. It has successfully provided employment to more than 14,000 people and even connected to the rural parts of India. Oriental Insurance Company has earned its share of popularity for its overseas operations subject to bike insurance and other businesses. It has hired competent professionals that provide one of the best customer services for bike insurance and other solutions in the industry and has a tagline “Service to Client”.

Oriental Bike Insurance

Riding a two-wheeler comes with a number of risks. To protect both you and the two-wheeler it is advisable that one purchase insurance for it. Insurance provides a layer of protection in case of a mishap, the policyholder receives compensation for their losses and thereby can remain relatively financially secure in times of crisis. Oriental General Insurance Ltd. offers three basic types of insurance for two-wheelers; third party insurance, standalone own damage insurance and comprehensive plans. It is compulsory for every two-wheeler in India to have at least a third party insurance policy according to the Indian Motor Tariff. The insurance will take care of third party liabilities in case of a mishap, this includes bodily injuries, death or property damage. The fine for not having third party insurance is Rs 2,000 and/or imprisonment for up to 3 months. The standalone own-damage cover, on the other hand, will compensate the insurance holder for the damage to their two-wheeler. Own-damage covers offer protection from a wide array of situations including theft, vandalism, road accidents, natural and manmade calamities. Lastly, a comprehensive plan offers well-rounded protection, it covers both own-damage costs and third party liability under a single premium.

Along with own-damage covers, you can purchase add-on covers to further enhance the policy’s coverage. Add-on covers are optional and allow you to pick and choose according to your requirements. Moreover, if chosen correctly it can make a significant difference during claim settlement. Some add-on covers that you should definitely consider are the zero depreciation cover, consumables cover, roadside assistance cover and passenger assistance cover.

Oriental Insurance is a reliable insurance provider known for its efficient service and competitive rates. When you purchase an own-damage cover from Oriental they also offer a no claim bonus for every claim-free year. The reward is cumulative and goes up to 50% in the fifth consecutive year.

Significant Points of Oriental Bike Insurance