Oriental Standalone Own Damage Bike Insurance

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Using a two-wheeler for everyday commuting poses significant hazards, which might cause concern for you and your loved ones. Insurance can help you control these risks to some extent. It adds another layer of security for the two wheeler insurance holder by paying for losses incurred in the event of an accident. 

The own-damage Oriental two-wheeler standalone insurance policy will cover your own damage expenses in the event of a catastrophe and offers this coverage in a variety of situations. This includes vandalism, theft, traffic accidents, explosions, and fires, both man-made and natural disasters. Furthermore, purchasing it in conjunction with third-party insurance will provide you with a well-rounded protection layer.

How does Oriental Standalone Two Wheeler Insurance Policy Work?

To further comprehend the standalone policy of Oriental bike insurance, consider the following example. 

Assume you recently purchased a new two-wheeler, and the dealer offered you a three-year bundle of third-party insurance for your bike while you were still in the showroom.

After barely a year, you realize that you'd like to safeguard your own automobile against damages and losses in addition to third-party liabilities.

In this scenario, instead of waiting until your renewal date to update your policy or purchasing comprehensive vehicle insurance, you may just acquire an own damage bike insurance coverage, which will suffice for the time being.

Oriental Standalone Two Wheeler Insurance Vs Third Party Two Wheeler Insurance Vs Comprehensive Two Wheeler Insurance

BasisOriental Standalone Bike InsuranceThird-Party Bike InsuranceComprehensive Bike Insurance
CoverageOriental two-wheeler standalone insurance covers own-damage to insured bike like  accidents, theft, natural/man-made disasters, etc. The Oriental comprehensive bike insurance policy not only covers you and your vehicle completely. But the policy also covers third-party liabilities.Only third-party liabilities are covered by Oriental third-party insurance. Third-party property damage, death, and injuries are all included. 
CostThe Oriental two-wheeler standalone policy coverage is more expensive than third-party insurance since it covers the insured vehicle's own damage.This insurance is more expensive than a solo own-damage or third-party policy since it includes both third-party and own-damage coverage.As it only provides minimal coverage, this insurance is relatively inexpensive.
Add-onsThe two-wheeler standalone insurance has a variety of add-on coverage options.There are various add-on choices available with comprehensive coverage.This insurance does not provide any further coverage alternatives.
NecessityOptional to buyOptional to buyMandatory to buy

What All is Covered Under Oriental Standalone Two Wheeler Insurance Policy?

The following factors are covered under the Oriental standalone own damage policy:

  • Vehicle damage caused by fire or explosion.
  • The accident-related damage to the insured bike.
  • Natural or man-made disasters cause damage to the covered bike.
  • Vehicle theft or vandalism is covered.

What All is not Covered Under Oriental Standalone Two Wheeler Insurance Policy?

An Oriental standalone own damage policy does not cover the following aspects:

  • Third-party liabilities.
  • Accidents involving any type of unlawful driving.
  • Mechanical or electrical failure causes the bike to break down.
  • The insured vehicle's depreciation.
  • Accidents that occur outside of the geographical area specified in the policy's terms and conditions.

Oriental Standalone Two Wheeler Insurance Benefits

The following are some of the advantages of buying Oriental motor insurance:

  • This coverage covers own-damage costs in a variety of situations, including automobile theft, vandalism, fire/explosion damage, damage to the insured vehicle caused by a traffic accident, and damage to the insured vehicle caused by a natural catastrophe, and so forth. In times of disaster, this policy gives financial security to the policyholder.
  • The policyholder receives a no claim bonus for each year without a claim. In the fifth consecutive year, the incentive might increase to 50%.
  • This policy allows you to increase the policy's coverage by selecting an appropriate add-on coverage option.
  • The policy comes with quick and easy cashless claim settlement.

Oriental Standalone Two Wheeler Insurance Review

The following are the reviews of the Oriental two-wheeler standalone insurance.

  • Quick and transparent buying
  • Premium rates are affordable
  • Add-ons are applicable
  • Good claim settlement ratio
  • Emergency assistance is also available in the Oriental standalone two-wheeler insurance.

Oriental Standalone Bike Insurance FAQs

  • 1. Is it necessary to get Oriental 5-year insurance from the bike dealer?

    All new two-wheelers must have a 5-year insurance policy, according to the IRDAI. This was done to guarantee that the greatest number of two-wheelers are insured, as well as to reduce the number of lapsed, expired, and uninsured vehicles.

  • 2. What is the concept of Oriental standalone two-wheeler policy?

    A standalone own damage bike insurance policy protects the policyholder's own covered bike against any losses or damages caused as a result of an accident or incident.

  • 3. What is the procedure for claiming Oriental bike insurance online?

    For claiming the Oriental bike insurance online, you can navigate to the main website and you can register a claim.

  • 4. Is Oriental Insurance owned by the government?

    Yes, Oriental Insurance is owned by the government. 

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