The National Insurance Company

The Oriental Car Insurance is considered one of the pioneering car insurance companies quite sought-after for its track records of claim reimbursement. Oriental allows its clients all coverages as per the Indian Motor Vehicle Act viz. the Third Party Car Insurance and the Comprehensive Car Insurance. Anyone who wants to insure his or her car for the first time is to apply at any of its offices insuring vehicles or motors. Policy renewal is to be done at the same office only where you applied first and are registered with.

You are not allowed to renew your policy at any other office of the company or even at the Regional or Head office. Renewal at other office can be done only having special permission from the authority and here your vehicle needs to be inspected physically by only the company appointed surveyors. Remember that Oriental Head or Regional Office does not entertain the underwriting for renewal job. Online new application and renewal facility has still not been introduced.

The premium amount for car insurance is fixed on the considerations of all the guidelines set by the Indian Motor Vehicle Act and on the basis of IDV, and the Sum assured gets fixed also on the amount of IDV. The deciding factors for fixing premium amount are similar, namely the manufacturer’s listed sellign price, modeltype , cubic capacity , usage, place of registration, past claims history,if any, of the car, etc. Renewal of policy is a must and you may lose No Claim Bonus offer if not renewed with the expiry of 90 days of the policy period of 12 months.

Fixation of Sum Assured

More explicitly, sum assured for all vehicles is fixed on the basis of Insured’s Declared Value including the manufacturer’s listed selling price of the vehicle and the listed price of accessories after the deduction of the depreciation value per year in sync with the version of the Indian Motor Vehicle Act.

The Oriental Car Insurance shoulders the liability of the damage or loss of the extra fittings of electrical or electronic items after the decuction of their depreciation value accounted per year if furnished all actual price listed documents of their manufacturers over and above the IDV. Sum assured will be higher on the extra installation of CNG / LPG kit with 4 per cent additional premium of the value of that kit with valid authorization of the concerned RTO,and for the enjoyment of this facility one has to fill in a proposal form.

Ranking Snaphots

The Oriental Car Insurance soared upto the 2nd position with scores of 772 out of 1000 though its customer satisfaction level touched the 761 scores only.

Theoritical Saying

It is more than the Gospel truth that car insurance premium rate and the extent of coverages will not be noteworthy varying from one company to another. But car owners should ensure themselves that process and time for claim reimbursement must be satisfactory.