Oriental Bike Insurance Renewal

Oriental General Insurance has minimized the risks on roads for thousands of people through its protective bike insurance plan. Oriental bike insurance effectively shields its policyholders from the uncertainties on roads at affordable premiums. Just like every other insurance policy, the bike insurance policy comes with an expiry date. To enjoy the protection post-expiry, the policyholders should renew the policy.

Oriental General Insurance has made the renewal process easier for its policyholders by digitalizing the procedure. However, the policyholders may opt for the traditional offline process for renewing the policy as well. The policyholders can even get assistance regarding any issue from its active helpdesk service. The renewal procedures of Oriental bike insurance policy has been described below elaborately.

Oriental Bike Insurance Policy Renewal - Online Process

Oriental Insurance has simplified the online renewal process of bike insurance in just three simple steps.

Step 1: Visit the official website and go to the renewal page

• Open the official website of Oriental Insurance
• Click on “RENEW ONLINE”

Step 2: Fill in the policy details

A new page opens up asking for your policy details. Enter the policy number and click on “Renew Now”. The policy details open up. Check the details and move to the next tab of “Premium Calculated” where the quote is shown. Open the next option, “Customer personal information for IOCL”. Enter the updated personal details and proceed to the last step.

Step 3: Make the payment for renewal

The last step involves making the payment of the premium through its payment gateway using a debit card or via net banking. After the final payment, you receive the policy documents within a few days.

Oriental Bike Insurance Policy Renewal - Offline Process

Oriental insurance can be renewed offline by dialling the helpdesk numbers 1800-118-485 and 011-33208485 (chargeable). You can also visit the nearest branch for the renewal.

Oriental Bike Insurance Renewal Fees

Renewing your bike insurance with Oriental Insurance ensures that you continue to enjoy the benefits of coverage without any lapse. The renewal fees for Oriental bike insurance are subject to various factors that determine the premium amount. Here's what you need to know about the fees:

Insurance Premium Calculation:

• The renewal fee primarily depends on the Insured Declared Value (IDV) of your bike, which is its current market value. The IDV decreases with the age of the bike.
• Factors like the make and model of the bike, the engine's cubic capacity, and the geographical zone of registration also influence the premium.

No Claim Bonus (NCB):

If you haven’t made any claims during the previous policy period, you’re eligible for a No Claim Bonus. This can significantly reduce your renewal fees, sometimes up to 50% for a five-year claim-free record.

Add-on Covers:

Opting for additional covers like zero depreciation, roadside assistance, or engine protection will increase the renewal fees but provide more comprehensive coverage.

Policy Duration:

Oriental Insurance offers options to renew the policy for one, two, or three years. Opting for a longer duration can offer a cost advantage in the long run.

Online vs Offline Renewal:

Renewing your policy online can be more cost-effective as it often comes with discounts and eliminates agent commission fees.

Timely Renewal:

Ensure you renew your insurance before it expires. A delay may lead to an inspection of the vehicle, which could further impact the renewal fees.

Review Your Coverage:

At the time of renewal, assess your coverage needs. Sometimes, reducing or increasing the coverage can be financially beneficial depending on your current situation.

Check for Discounts and Offers:

Keep an eye out for any promotional offers or discounts that Oriental Insurance may provide during the renewal period.

Remember, the exact renewal fee can be obtained by using the premium calculator available on Oriental Insurance’s website or by contacting their customer service. Always make an informed decision that balances cost with the needed coverage.

• No Documentation required.
• Active emergency assistance
• Avail No Claim Bonus to get some discounts
• Gives a sense of financial security and peace of mind
• Takes care of the legal obligations arising due to accidents
• Option to stretch your coverage by opting for add-on covers
• Avail free repair and replacement at the nearest cashless garages
• Protection from the uncertainties of accident and damage of the bike
• Provides support for the liabilities to the third party in case of an accident.