Oriental Car Insurance
- Network of 31 regional offices and more than 1,800 active branches
- A huge number of network garages, which offer direct cashless claim
- Total strength of 14,000+ employees and well established in the rural parts of the country.
- Overseas operations in countries like Nepal, Kuwait and Dubai
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About Oriental Car Insurance Company
Oriental Insurance Company Ltd. is one of the known faces in the general insurance industry in India. It is a public sector insurance company and offers more than 170 general insurance products including reliable car insurance policies. The company was established on 12th September 1947 and is headquartered in New Delhi.
Shri A. V. Girija Kumar is the Chairman-Cum-Managing Director of the company since May 2017. The company has more than 14,000 working employees and offers 170 insurance products to its customers that include car insurance policies, two-wheeler insurance policies, health insurance policies, home insurance policies, travel insurance policies, and business insurance policies. Car insurance products offered by the insurer include third-party car insurance policies and comprehensive car insurance policies. The insurer offers a wide range of add-on covers like nil depreciation cover, loss of personal effects, alternative car benefit, etc. that can be purchased along with comprehensive car insurance policies. These add-on covers come at an affordable premium.
The company had a modest start in the year 1950 with a premium of a little less than Rs. 1 lakh. However, it recorded a gross premium of Rs 7,282.54 crores in the financial year of 2013-14. Apart from India, it also has overseas operations in Nepal, Kuwait, and Dubai.
The general insurance company has 31 regional offices and over 1,800 branches working actively across the nation. Initially, Oriental Insurance operated as a completely owned subsidiary of Oriental Government Security Life Assurance Company Ltd. Thereafter, for a period of 17 years, i.e.; 1956 to 1973, the company operated as a subsidiary of Life Insurance Corporation (LIC) of India before the nationalization of general insurance business in India.
In 2003, it was de-linked from the parent company and set up as an independent insurance company, the Union Government acquired all the shares of the company from Oriental Insurance Corporation of India. Later in 2018, the Government of India merged Oriental Insurance with National Insurance Company Ltd. and United India Insurance Company.
Oriental Car Insurance Policy
In a bid to provide security to policyholders, Oriental General Insurance provides two types of car insurance policies such as a third party car insurance policy and a comprehensive car insurance policy. The third party is the basic and compulsory car insurance policy to hold while driving, which covers your financial liabilities towards a third party arising after an accident with the involvement of the insurer car, while the comprehensive plan is a policy which is designed to protect the insured as well as his or her car from financial losses and damages after an accident or any mishap such as theft, fire, natural calamity or man-made disaster.
However, to expand the car insurance plan coverage, one can buy add-on covers, by paying a little extra amount of premium, offered by the insurance company to offer safety when hitting the road. The add-on covers provided by the insurer are Nil Depreciation Cover, Loss of Personal Effects, Alternative Car Benefit, Free Benefit of Emergency Service, etc. In addition to these, the insurance company also offers a No Claim Bonus as a reward for completing a policy year without raising any claim on own-damage premium, which policyholders can avail during the renewal of the policy. This discount accumulates with every claim-free year and ranges from 20% to a maximum limit of 50%.
Key Features of Oriental Car Insurance
Features | Coverage |
| Founding Year | 1947 |
| Network Garages | 3100 |
| Claim Settlement Ratio | 94.00% |
Third Party Property Damage | Up to Rs. 7.5 Lakh |
Own Damage Cover | Coverage for Own Car for Its Loss and Damage |
Personal Accident Cover | Up to Rs. 15 Lakh |
Add-on Covers | 4 Add-on Covers |
Claim Assistance | 24/7 Claim Assistance |
What is Covered Under Oriental Car Insurance?
Listed below are the coverage offered under Oriental Car Insurance plan:
- Any damage to the vehicle
- If a third-party is injured due to the insured vehicle
- Any damage due to natural disaster like cyclone, flood, hurricane, or others
- If the vehicle is stolen or is damaged due to any terrorist activity
- If the insured vehicle is damaged due to fire explosion
What is Not Covered Under Oriental Car Insurance?
There are a few exclusions to Orinetal Car Insurance policy such as those listed below:
- Any damage that takes place and the driver is found riding without a driving license or car insurance policy or is found driving under the consumption of alcohol or drugs
- Any mechandinal breakdown
- Any damage to the vehicle due to war
How is the Premium Calculated For Oriental Car Insurance?
The premium for Oriental Car Insurance is calculated on the basis of a number of factors such as those listed below:
- Insured Declare Value (IDV): The Insured Declare Value or IDV is basically the existing market value of the vehicle. If the IDV is higher, the Oriental car insurance premium will be higher.
- Cubic Capaicty: The cubic capacity of the engine or the CC of the vehicle directly affects the car insurance premium. For instance, a vehicle with 1500cc will have a higher premium as compared to vehicle with less than 1000cc.
- Geographical Location: The geographical location of the insured vehicle also affects the car insurance premium. If the car has been insured in a region that is prone to wars or nuclear activties, then in such a case the premium will be higher.
- Age of the Vehicle: The older the insured vehicle, lower will be the premium.
Based on the above factors, your Oriental car insurance premium will be calculated. You can use the premium calculator available on InsuranceDekho’s website to calculate the premium.
How to Renew Oriental Car Insurance?
Here is how you can renew Oriental car insurance policy:
- Go to Oriental Car Insurance website and click on car insurance
- Enter your car insurance policy number along with other details
- Once you login, you will be able to view the policy
- Click on renew and proceed with premium payment
- Finally, when your payment is completed, you will receive Oriental car insurance policy details on your registered id
How to File a Claim Under Oriental Car Insurance?
Listed below are the steps you need to follow to raise Oriental car insurance claim:
- First, you need to inform Oriental Insurance Company about your car insurance claim
- When you submit the claim, you will receive claim registeration number
- In case of reimbursement claim, you can take your car to any garage. However, for cashless claim, the vehicle needs to be taken to cashless garage
- Next, submit all the relevant documents
- Oriental car insurance will also send a surveyor to assess the total damage
- The surveyor will then submit the details to the insurer
- Finally, the insurer will review everything and settle the claim in case of both cashless and reimbursement claim
Documents Required to Raise a Claim Under Oriental Car Insurance
Some of the documents which are essential to raise Oriental car insurance claim are as follows:
- Copy of Oriental car insurance
- FIR report
- Medical reports in case of third-party bodily injuries
- Aadhaar card
- PAN card
- Copy of driving license
Benefits of Oriental Car Insurance
- With 30 regional offices and around 1800+ operating offices in the country, Oriental Insurance Company has a wider reach compared to most of the insurance companies.
- It also provides niche products to suit specific requirements of the urban and rural population of the country.
Oriental Car Insurance Add-ons
Zero Depreciation Cover
In case a claim is filed for damages, with this add-on coverage, the company will pay you the full value of damaged part (except certain parts such as tyre, tube, battery) without taking depreciation into account.
Loss of Personal Items
This add-on covers loss of personal items and the company will reimburse the policyholder with a maximum of Rs 5,000 to Rs 10,000 depending on the t&c of the insurer. However, it does not include money, laptops, credit cards, electronic items etc.
Alternative Car Advantage
In case of an accident, when the car is out for repairs, the company will arrange an alternative car for the policyholder. One can avail this facility only if the vehicle is damaged to at least 20% of IDV and is unable to function.
Emergency Service Free of Cost
The policyholder is entitled to avail emergency services as per the policy, if the insurance of the car is done at any offices of the company in the following states: NCR, Punjab, Haryana, Himachal Pradesh, Mumbai, Kolkata Rajasthan or all South Indian states.
**Conditions are subjected to change depending upon the insurance company.**
Oriental Car Insurance Claim Process
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Oriental Car Insurance FAQs
What kinds of Car insurance policies are available with Oriental Insurance?
The basic insurance covers offered are:
- Liability Only Policy: This policy is mandatory for every vehicle owner. It covers the liabilities towards third parties only, as per the Motor Vehicles Act.
- Package Policy: In addition to the benefits of the Liability Only Policy, this also covers damages to your vehicle, owing to an accident. Moreover, one can also use add-ons for extra protection.
What will be the premium for my vehicle?
Premium depends upon a number of factors viz. type, make, model, cc, usage, place of registration, past claims history etc. of the vehicle. It is therefore, advisable to contact the company’s underwriting office with vehicle’s details for the exact premium amount.
Why do I need to renew my vehicle’s insurance policy?
Every insurance policy has a fixed tenure post which the policy needs to be renewed to meet regulatory obligations. Apart from this, one should renew one’s policy as accidents are uncertain and having an active insurance policy helps mitigate financial liabilities. Furthermore, you will also retain your No Claim Bonus–the hard-earned discount, in premium for claim free year(s).
Can I transfer the insurance policy to the buyer of my vehicle?
Yes, the insurance policy is transferable. You need to submit a fresh proposal form and the company will charge a nominal fee.
What if I have installed the LPG/CNG kit in my vehicle?
Installing LPG/CNG kit is permissible by the RTO-means. However, it should be registered with the RTO and mentioned by them in your RC. Then, you need to approach the insurance company and declare it to them with a copy of the RC.
Note: Additional premium is payable for the vehicle with LPG/CNG kit.
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Oriental Car Insurance Contact details
- 1800118485
- 011- 33208485