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Oriental Third Party Bike Insurance
Oriental General Insurance Company aims to provide its customers with bike insurance plans as per their requirements. Among many policies provided by the company, the Oriental third-party bike insurance cover is one. As third-party bike insurance is mandatory as per the Motor Vehicles Act, every bike owner must get a minimum of third-party bike insurance cover.
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Oriental Bike Insurance
- Oriental Third Party Bike Insurance
The basic idea behind this plan is that the insurance provider will pay for any sort of damages done to a third party - bodily harm or property damage - by the policyholder’s vehicle provided that the company's terms and conditions are met. Further details and features of the Oriental Third-Party Bike Insurance Plan are briefly discussed in the following segments.
Oriental Comprehensive Bike Insurance vs. Third-Party Bike Insurance
Below is a table that draws out the differences between the Oriental Third Party Bike Insurance and Oriental Comprehensive Bike Insurance-
| Features | Oriental Comprehensive Bike Insurance | Oriental Third Party Bike Insurance |
| Coverage | It ensures that there is coverage for the 3rd party along with the own damage cover | It ensures that there is coverage for the monetary and legal responsibilities towards the 3rd party. |
| Requirement | Not mandatory but recommended | Mandatory as per the Motor Vehicles Act |
| Additional Covers | This kind of coverage allows a window for the customers to adjoin add-ons and additional covers. | This kind of coverage does not give space for any type of add-ons. |
| Premium | Comparatively Higher | Low |
What all is Covered under the Oriental Third Party Bike Insurance Plan?
Every bike insurance policy has its own specifications on what should be covered and what would not be covered under the policy. The below are the conditions that are covered by the Oriental Third Party Bike Insurance Plan -
- Third-Party Property Damage Cover- If and when a third party’s property is damaged because of the customer’s two-wheeler, the insurance provider will compensate up to one lakh Indian rupees. That is, any damage under one lakh rupees will be covered by the insurance company.
- Third-party Death and Injury Cover- If and when a third party suffers from injuries to the body or death because of the policyholder’s two-wheeler, the policy will compensate for the same. It is to be noted that the amount to be paid as compensation would be decided by a judicial body, i.e., a court of law.
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What is All Not Covered under the Oriental Third Party Bike Insurance Plan?
The below are the conditions that would not be covered by the Oriental Third Party Bike Insurance Plan-
- This plan will not cover any kind of damage that the policyholder's two-wheeler undergoes if and when there has been any kind of accidental incident
- This plan will not cover for any sort of bodily harm faced by the policyholder
- There is no availability for a discretionary private accident shield under this Third Party Bike Insurance Plan.
FAQs
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Q1. Can Oriental Third Party Bike Insurance coverage be extended?
No, once taken, the indemnity period of the Oriental third party bike insurance cannot be changed or and its coverage period also cannot be extended.
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Q2. Where can I avail of the Oriental Third Party Bike Insurance policy?
The plan/ policy can be purchased either via the insurance provider's official website or by visiting the official website of Policybazaar.com. For further details, customers can call our experts at 1800-708-8787 or write to us at care@policybazaar.com
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Q3. Is it mandatory to get Oriental Third Party Bike Insurance Cover?
Under the Indian Motor Vehicles Act, third-party bike insurance is mandatory. If the owner of a two-wheeler is found without third-party bike insurance cover, there can be legal action or penalty. Customers can choose Oriental Third-Party Bike Insurance as per their requirement.
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Disclaimer: The list mentioned is according to the alphabetical order of the insurance companies. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
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Read more^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.
^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.
#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.
*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)
#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.
*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.
*Rs 457/- per annum is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial).The list of insurers mentioned are arranged according to the alphabetical order of the names of insurers respectively.Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. The list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website www.irdai.gov.in
