Oriental Two-Wheeler Insurance

Oriental Two-Wheeler Insurance stands as a protective wall for you and your ride. Everyone would agree that the feeling of owning a bike is pure freedom. The rush, the thrill—it usually is better than what you had imagined. Better than life itself. For once, everything would be right. And maybe, just maybe, it always would.

But life has that way of throwing a few curveballs when you least expect it.

What would you do if a vehicle emerged out of nowhere and sent you swerving? Quick thinking cannot always save you from any injuries, and your poor bike may not always be so lucky. A deep scratch can feel like a dent in the heart. Your dream bike, your pride and joy, will no longer be perfect.

But what if it had been worse?

What if the bike had been totalled? Or stolen? Could he handle the financial blow? Would he be prepared for the unexpected costs?

These are questions that every bike owner must ponder over. After all, the ownership of a bike isn't just a thing of freedom and style-it is a responsibility as well.

Oriental Two-Wheeler Insurance may be the answer to this. It's not an insurance policy, but a safety net for you. From accidents to theft or unexpected damage, with Oriental Two-Wheeler Insurance, nothing comes unannounced.

So, how can Oriental Two-Wheeler Insurance protect your pride and joy? Let's take a deeper dive to find out.

Oriental Insurance Two-Wheeler Policy?

Think of two-wheeler insurance as your bike’s armour—ready to shield it from accidents, theft, or even natural disasters. Oriental Two-Wheeler Insurance is more than just a legal necessity; it’s a financial safety net for every rider who values their two-wheeler as more than just a vehicle.

With each passing day, the roads are invaded by more and more bikes as well as two-wheelers. Do you ever worry about the danger? The rise of accidents along with vehicles is alarming.

Did you know two-wheelers experienced the maximum number of accidents in the year 2022? A whopping 63,115 accidents were registered and led to the tragic deaths of 25,228. That's shocking!

Here’s another startling fact: two-wheelers accounted for 41.5% of all accident deaths on National Highways in India. Imagine the impact these numbers represent—not just for riders but for their families too.

So, what can you do to safeguard yourself and your bike?

This is where a trustworthy two-wheeler insurance policy comes in. It's not only fulfilling legal requirements but also taking care of your finances, given the unpredictability of life.

Did you know that, as a bike owner, you need to have a Third-Party Liability Insurance Policy, as mandated by the law?

In India, two-wheeler owners are required to have valid insurance coverage. And since 01 September 2018, a five-year third-party liability policy has been compulsory for new two-wheelers. What would happen if you ride your bike without insurance? Heavy fines and even legal cases are the potential outcomes. Not worth it, huh?

Even while third-party insurance is mandatory under the law, having comprehensive Two-Wheeler Insurance is totally up to the owner’s discretion. While third-party insurance would only take care of damages caused to others, comprehensive insurance takes care of you and your bike on a host of different hazards along with third-party damages.

Still not convinced if it's worth your penny? Oriental Insurance offers very well-rounded two-wheeler insurance policies, with a focus on taking care of you and your vehicle against all eventualities on the road.

Let’s first begin by understanding the various features this policy has to offers you!

Features and Benefits of Oriental Two-Wheeler Insurance Policy

The Oriental Two-Wheeler Insurance Policy provides many features and benefits, providing complete protection and peace of mind for two-wheeler owners. Let’s look at some of those features and benefits-

• Own Damage Cover: Comprehensive policies or standalone own damage policies provide for damages caused to the insured bike during accidents, natural calamities, or man-made incidents.
   
• Cover for Third-Party Damage: It covers liabilities that may emanate from damages to third-party property or to third-party individuals.
   
• No Claim Bonus (NCB): It is a reward in terms of a discount on premiums offered by the insurance company to you for every successive year that you do not file a claim under your policy. This is provided on Own Damage Premium, and the slabs of discount go up to 50%.
   
• Cashless Repairs: Cashless Repairs enable you to get your vehicle repaired at network garages without having to make any advance payment. Oriental Insurance settles the claim directly with the garage, streamlining the process of claiming. Using Oriental Insurance, you can enjoy cashless services from 7926 network garages spread across India.
   
• Add-ons: Oriental Insurance's two-wheeler insurance provides the option of a range of add-ons that can enhance insurance coverage and extend protection when certain conditions arise.

Let’s look at the various add-ons that Oriental Two-Wheeler Insurance provides to save you in times of need.

• • Zero Depreciation: Claims for replacement or repairs would be settled without any depreciation deduction on bike parts. This means that the deductibles for depreciations will be compensated in case this add-on is opted for, subject to some terms and conditions.
     
  • Consumables Cover: This additional cover pays for the expense of replacing/replenishing/repairing certain consumables of the bike that are damaged or lost during an accident. The following is a list of consumables covered, including but not limited to screws, nuts/bolts, washers, bearings, clips, engine oil, gearbox oil, brake oil, grease, lubricants, distilled water, and other such consumables except fuel.
     
  • Return to Invoice Cover: For complete loss, damage, or theft, it guarantees an equivalent settlement to the invoice value-that is, the current market price or the IDV of the bike. Therefore, with this add-on, the insurer will provide you with the cost paid for the bike—the purchase cost quoted with regard to the 'on-road' price of the bike, which includes road taxes and registration.
     
  • Emergency Medical Expenses Cover: This will pay for all medical expenses arising from a bike accident. The cost of transporting you/the pillion rider to the hospital is also covered.
     
  • Key Replacement add-on: It provides coverage for theft, loss, or accidental damage of your vehicle keys. On the other hand, lock repair or replacement cover offers a cost to replace and repair your vehicle's locks if they are damaged on account of burglary, an attempt at theft, or any other casualty. This add-on allows you to be compensated through expenses, including labour charges, to replace or rectify the keys or the locks, thus keeping you secure.

Other than these, there is personal accident cover for owner-drivers along with additional third-party property damage cover for better security. The add-on amount that is going to be covered will be beyond the standard sum assured in a vehicle insurance policy.

Thinking you’ll be stuck with a single type of insurance policy? Not at all. Oriental Two-Wheeler Insurance comes with a variety there.

Types Of Oriental Insurance’s Two-Wheeler Insurance Policy

Oriental Insurance has a wide range of policies for its customers. Here’s an overview of them:

• Two-Wheeler Package Policy
  This policy actually covers losses or damages because of accidents in motorised two-wheelers, such as motorcycles, scooters, and auto-cycles. This is for providing comprehensive protection throughout the period of insurance coverage.
   
• Compulsory Personal Accident (CPA) Cover For Owner-Driver
  This cover protects the owner-driver with finances in case they suffer a bodily injury or pass away as a result of an accident. It will be applicable whether they are driving, getting in or out of the vehicle, or riding in it as a co-driver.
   
• The Two-Wheeler Bundled Policy
  This is an insurance cover for your two-wheeler under The Oriental Insurance Company for accidental loss or damage that may occur during the term of the policy. It is a combined product with both Own Damage coverage and Extended Third Party Liability coverage so as to give all-rounded coverage to your vehicle.
   
• The Stand-alone Own Damage (SAOD) Cover For Motorised Two-Wheelers
  It is a policy from The Oriental Insurance Company providing coverage in case of any accidental damage or loss of the insured two-wheeler, as stated in the Schedule, for the two-wheeler vehicle mentioned in the policy, within the policy period. It can be considered a significant cover for those owning two-wheelers in India against unwanted risks.
   

What does the policy cover? This may be the next question that arises in your mind. Read on to further understand the inclusions and exclusions of the policy.

What Is Covered Under Oriental Two-Wheeler Insurance Policy?

Oriental Insurance provides a wide range of coverage options. Here’s what is covered:

• Losses and Damages to the Bike
  A comprehensive two-wheeler insurance includes own damage cover, covering the damage or loss to your bike caused by:
   
• • Natural Catastrophes: This includes floods, cyclones, earthquakes, snowfall, and other phenomena.
  • Man-Made Incidents: Terror, riots, strikes, and other nefarious activities.
  • Fire-Related Damages: Self-ignition, lightning, explosions, and similar causes.
  • Accidents and Transit: Damage from accidents or when being transported by air, waterways, railways, or roadways.
• Bike Theft
  This comprehensive two-wheeler insurance covers the cost of the current market value of the bike if it is stolen or totally damaged (beyond repair).
   
• Third-Party Liability
  Third-party and comprehensive two-wheeler insurance covers the liability of third parties, which involves the damage to a third party's property, bodily injury, or even death of a third party through your vehicle.
   
• Personal Accident Cover For The Owner-Driver
  The comprehensive two-wheeler insurance policy from Oriental Insurance includes a Personal Accident Cover for the owner-driver, ensuring financial support in case of an accident. It reimburses medical expenses for injuries sustained in the accident and provides a predetermined benefit to the appointed nominee in the unfortunate event of the owner-driver’s death due to the accident.
   

The coverage offered under Oriental Two-Wheeler Insurance, including the add-ons, is solely based on the terms and conditions of the policy document. It is recommended to refer to the policy wordings for an exhaustive and exact description of what is being covered.

Now it’s time to understand what is excluded from your two-wheeler insurance policy.

What Is Not Covered Under Oriental Two-Wheeler Insurance Policy?

Besides having an extensive range of coverage options, Oriental Two-Wheeler Insurance has several areas where the policy might have some limitations. Let’s have a better understanding of what is not covered under the policy-

• Outside Geographical Area: The policy does not cover accidental loss, damage, or liability occurring beyond the specified geographical limits.
   
• Contractual Liability: The policy excludes claims resulting from any liability assumed under a contract.
   
• Use of Vehicle: The Company shall be under no liability for the accidental loss, damage or liability if the vehicle being insured is:
  • Used in a manner that violates the specified limitations of use.
  • Driven by someone not authorised under the terms outlined in the Driver’s Clause.
     
• Property Damage and Nuclear Risks:
  • The policy does not cover any accidents, property damage, associated losses, or consequential expenses.
  • It excludes liability for incidents caused by, resulting from, or contributed to by ionising radiation or radioactive contamination from nuclear fuel, nuclear waste, or any self-sustaining nuclear fission process.
     
• Nuclear Weapons Material: The policy excludes coverage for any accidental loss, damage, or liability arising directly or indirectly from, or contributed to by, nuclear weapons material.
   
• War and Related Events: This policy shall not cover any accidental loss, damage, or liability caused by, or contributed to by:
  • War, invasion, acts of foreign enemies, hostilities, warlike actions even if war is declared or not, civil war, rebellion, mutiny, military actions, or usurped power.
  • Direct or indirect results of those happenings.
     

If a claim is made, the insured must demonstrate that the loss, damage, or liability happened on its own and was not linked to any of the specified events. If they fail to do so, the company will not cover the claim.

• Employment-related Claims: Unless required by the Motor Vehicles Act, the company is not liable for:
  • Death or bodily injury sustained by employees (of the insured or any covered individual) while performing their job duties.
  • Death or bodily injury to any person travelling in, entering, mounting, or exiting the vehicle, except in cases where the passengers are being carried under a contract of employment.

These are general exclusions. For a comprehensive list of exclusions under Oriental Two-Wheeler Insurance, refer to the policy wordings. The document provides detailed information on what is not covered, along with specific conditions and exclusions that may apply.

How To Buy An Oriental Two-Wheeler Insurance Policy from SMC?

Purchasing an Oriental Two-Wheeler Insurance policy from SMC is as easy as a breeze. Just follow the steps mentioned below:

• Head to the official website of SMC.
• Go to the “Two-Wheeler Insurance” section under the tab “General Insurance.”
• Enter the registration number of your vehicle. Or you can type in the bike details comprising a brand, model, type of fuel, variant, RTO, etc., in lieu of the registration number.
• Fill in the required information, such as whether it is an individual's vehicle or an organisation's.
• You will then be taken to the “Quotes” page, where you will be shown quotes from various insurance companies.
• Choose your Oriental Two-Wheeler Insurance policy, add add-ons if you need them, and proceed to payment.
• Ensure you receive the payment acknowledgement and your policy documents.

Already have a policy but confused about how to renew it. Keep scrolling and have your questions answered.

How To Renew Oriental Two-Wheeler Insurance Policy from SMC?

If you are wondering how to renew your Oriental Two-Wheeler Insurance policy from SMC, just follow the stepwise guide mentioned below:

• SMC Insurance will give you a link to renew by text message and email.
• You click on the renewal link in the message.
• Then, you will be directed to the insurance portal.
• Enter your policy number and other information.
• Update or alter the information that you provided, if you need to.
• Review the details you gave about the policy.
• Choose one of the methods to make an online payment and then finalise the transaction.
• After a successful payment, the insurer will send a confirmation message with regard to the email and registered mobile number you provided.
• You will automatically receive a PDF copy of your renewed policy at your registered email address.

How To Claim Oriental Two-Wheeler Insurance Policy from SMC?

Claiming an Oriental Insurance policy is made easy with SMC. Follow the steps below-

• You can also file your claim request at the official website of SMC.
• SMC's team will gather all your personal information and information related to issues that have occurred to you.
• They will forward all that information to the insurer.
• The insurer will then go through your claim request, check your documents, and get cashless approval, if feasible.
• You will be intimated with the decision reached by the insurer, then walked through the process thereafter in the settlement of your claim.
• Any outstanding requirements will be brought to your attention and reported to the insurer once again.
• On processing, you will be intimated that your claim has been approved, be it for cashless or for reimbursement.

How Can SMC Help You In The Process Of Settling A Claim?

With a strong history of handling over 2.04 million claims, SMC has consistently demonstrated its efficiency in the claim settlement process, making it a trusted partner for those in need.  SMC provides you with a step-by-step procedure that lets you learn how the claim settlement process goes on and also updates you about the documents required during the claim settlement process. It is available to serve you at all hours to answer queries related to the settlement of claims.

With the support and direction from SMC, you'll be able to go through the claims process smoothly and will definitely receive the compensation that you are eligible for in your Oriental Two-Wheeler Insurance. This partnership can make what otherwise could be a confusing and distressing period much more tolerable.

Documents Required To Claim Oriental Insurance’s Two-Wheeler Insurance

To begin the process of claiming Oriental Insurance, there are a few documents that you might generally require. Here’s a list of them:

• A duly signed claim form
• A copy of the driving license
• A copy of the Registration Certificate (RC)
• A copy of the insurance policy document
• A FIR, in case the claim involves death or bodily injury
• The original repair estimate slip or repair invoice

Ensure that all documents are provided so that processing can be done without interruption. The type of documentation required will depend on the nature of the claim. For example, Own Damage or Third-Party Liability claims may require different documents.

Two-Wheeler Insurance Policy: Depreciation Rate For Different Parts Of  The Vehicle

The insurer will compensate for the loss or damage to the insured vehicle, but a deduction for depreciation will be applied based on the rates specified for the parts that are replaced.

Depreciation Depending On The Age Of The Vehicle In A Two-Wheeler Insurance Policy

Here’s how the depreciation percentage looks according to the different ages of the vehicle:

To Wrap It Up

For anyone, their bike will be nothing less than a dream come true. With Oriental Two-Wheeler Insurance, you can find a way to protect that dream. Owning a bike is a blend of passion and practicality. However, with great joy comes responsibility. Oriental Two-Wheeler Insurance ensures your ride remains a source of pride and convenience, shielding you from financial setbacks caused by accidents, theft, or unforeseen events.

As you drive through your streets again, do it with ease. Because you know that the bike, as well as your peace of mind, is protected with the help of bike insurance.

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