Acko Car Insurance Claim

Claim is the amount you receive from the insurer in situations where the insurer is obliged to cover your expenses. The claim is processed based on the terms and conditions listed in the policy. Acko is a digital-first insurance provider that offers comprehensive, third-party, and standalone own-damage car insurance policies to protect vehicle owners from financial and legal liabilities.

Claim settlement Ratio of Acko Car insurance

Being a modern-era insurance provider, Acko has impressed with its smooth functioning and paperless process. However, it has delivered customer satisfaction as well which is evident with its 96.27% claim settlement ratio recorded in FY 2021-22. Claim settlement ratio determines the efficiency of an insurer in regard to settling claims.

Types of Acko Claim Settlement Process

There are two types of claim settlement processes mentioned below. It is important to understand that the claim provided by the insurer is the remaining cost of the invoice after subtracting the deductibles which are paid by the customer. Deductible is a pre-agreed amount which is the maximum amount a customer would pay voluntarily from his pocket before the insurer covers the remaining cost.

For example, if your car repair cost is 50,000 Rs and you had agreed to a 20,000 Rs deductible. In this case, you will have to pay 20,000 Rs from your pocket and the remaining 30,000 Rs will be paid by the insurer.

1. Cashless Claim Settlement Process

Acko has a wide network of cashless garages all over India. In a cashless claim settlement process you need to initiate the claim from your Acko mobile app and your car will be picked up and will be taken to the garage for repair. Further, you will just be asked to pay the deductible (if any) and your car will be delivered to you after repair.

2. Reimbursement Claim Settlement Process

In the reimbursement process of claim settlement, you take your car to any garage that might not have ties with Acko and get it repaired by paying from your pocket. Further, submit all the repair invoice(s) and you will be paid the amount after subtracting deductibles from Acko.

Acko claim Initiation

Acko has a very simple process of claim initiation. Just tap on the submitted claim on your Acko mobile app or website and your car will be picked up for repair in 60 minutes. You can also register a claim by:

• Calling Acko customer care at 1800-266-2256.
• Write an email to hello@acko.com

How to File an Acko Car Insurance Claim?

There are different steps to be followed depending on the circumstances. The most common claim settlement processes are mentioned below.

If your car is damaged

Follow the simple process of claim settlement if your car is damaged:

1. Register a claim using the mobile app.
2. Your car will be picked up in 60 minutes.
3. You can track the repair with live updates on your mobile app.
4. Your car will be delivered back to you in a maximum of 3 days depending on how much time it takes to repair.

If another vehicle damages your car in an Accident

If another vehicle damages your car in an accident, follow the given steps:

1. Take details of insurance of third-party.

2. Inform the insurer of the third party and file an FIR at the nearest police station to the site of the accident.

3. Inform Acko and present all the details. Take photographs of damages caused to your vehicle.

4. If you receive any notice from the Motor Accident Claim Tribunal (MACT), inform Acko immediately about it as they will handle communication on your behalf.

5. The MACT will decide how much compensation should be paid. Once the decision is announced, the insurer of the third party shall pay you the amount.

Cases of Theft

If your car is stolen, follow the below-mentioned steps:

1. File an FIR and inform Acko immediately.
2. Upload the car's RC, copy of FIR, and driving licence on the app using the ‘car theft claim’ option.
3. If the police are unable to find your car they will issue a non-traceable certificate. Upload this document on the app.
4. The claim will be settled as per the terms and conditions.

Third-Party Claims

If another person or property is damaged by your vehicle, follow the given process:

1. Inform Acko and describe the incident in detail.
2. The third party will have to file an FIR at the nearest police station. Share details of your policy with the third party
3. If you receive a notice from the Motor Accident Claim Tribunal (MACT), inform Acko as they will communicate with them on your behalf
4. MACT will decide and announce compensation and then Acko will settle the claim accordingly.

In case of injury or death, some cases are settled out-of-court by mutual agreement. There are no issues of legality in it, but it is recommended to involve authorities in such cases.

In case of property damage, compensation is decided or rejected after hearing from both parties involved. The maximum limit of compensation for property damage is 7.5 Lakh Rupees.

Claim Process of Acko Car Insurance

Below is the complete process on how to claim Acko car insurance via online and offline mode.

Online

Process of cashless claim settlement:

1. Intimation: Notify Acko immediately after observing damage to your car.

1. Complete Survey: An independent survey inspector will be hired to asses the condition and present unbiased report of the damage. Once approved you can send or take your car for repair to the garage.

1. Track Repair: Get live updates of repair on your Acko mobile App.

1. Claim Settlement: Once the car is repaired, the claim will be settled by Acko either by paying directly to the cashless garage or by reimbursing the customer.

Offline

An offline approach just differs in the intimation step. You can call Acko customer care or write an email to them.

Documents Required for Acko Claim Process

The following documents are required in the process of settling a claim:

• Claim form filled in and signed
• A copy of your Vehicles R.C.
• A copy of the Driving License of the person driving at the time of the accident
• Copy of policy documents
• Images of damages
• Copy of FIR ( if applicable)
• Certificate of non traceable ( in case of theft)
• Original invoice ( in case of reimbursement)
• Original payment receipt (in case of reimbursement)

You should always discuss with the Insurer regarding the required documents in your claim process.

Acko No Claim Bonus

No Claim Bonus (NCB) is a discount that rewards you for not filing any claims during your policy. No claim bonus applies to the premium when you renew your policy. No claim bonus is applied to the own damage portion of your premium.

Details

• NCB is rewarded to you, not your car. So it stays with you even if you purchase a new car.

• No claim bonus can be easily transferred in case you plan to change your insurer.
  

Benefits

• In case you change your car, NCB is transferable provided the new car belongs to the same class (as per the tariff) as the old car.

• In case you don't renew your policy in 90 days after expiry, you will lose your NCB.

• No claim bonus is calculated on your own damage premium only.

• After the first year of insurance without filing a claim, you get a 20% discount.

• The maximum NCB you can get is 50% of your Own Damage premium, which you get after 5 years of insurance without taking any claim.

Acko Car Insurance Claim Assistance & Support

InsuranceDekho provides customer assistance to help you purchase a policy and answer your queries. You can connect with InsuranceDekho on 7551196989 or mail them on support@insurancedekho.com.

Acko customer care services can be accessed by given channels:

Toll-free Number: Call on toll free number 1800 266 2256 to talk to the customer support team.

Email support: Write an email to hello@acko.com to get response to your queries.

The Grievance Redressal Cell: If you receive an unsatisfactory response from the customer assistance,you can reach out to Ackos grievance redressal cell at grievance@acko.com.

Chief Grievance Officer: If Grievance Redressal fails to provide a satisfactory response, reach out to Ackos CGO, Ms Reena Evans by calling on 1800 266 2256 (Toll-Free) or 1860 266 2256 or mailing at gro@acko.com.

Incorrect information

If you provided wrong information when acquiring your car insurance policy, the company may reject your claim.

Careless driving

You will not be entitled to get the claim if the accident is happened due to your carelessness, which includes rough driving, absence of a valid driving license, driving in the state of intoxication or road-rashing.

Repairing the car without informing the insurer

If you have repaired your car without informing the insurance company about the accident, you will not be entitled to get any claim.

Illegal use

No claim will be initiated if your car is being used for illegal activities.

Expired policy

In the case of non-renewal, your car insurance policy becomes void and this will wipe out the benefits of insurance coverage.

Service Centers

Reach the company’s nearest service centre for claim settlement process or any related queries.

Acko No Claim Bonus

With a car insurance policy either you make a claim or you do not make it. But, the best part is that the car insurance benefits you in both ways. If you own car insurance and drive safely for a year and make no claims in a policy period, then you become liable to be awarded a No Claim Bonus (NCB).It is a reward given by an insurance company to policyholders for not raising a claim in a policy year. This benefit is offered in terms of discount while renewing the car insurance policy and accumulates with every consecutive claim-free year from 20% to a maximum of 50%.

The No Claim Bonus allows you to pay a discounted car insurance premium, which makes the policy more economical.Since the NCB is associated with the car owner rather than the car, you can keep it even if you plan to buy a new car after selling your old one or if you switch car health insurers. Only the own-damage part of your car insurance policy, which covers damage to the insured car, is eligible for a No Claim Bonus.To retain your NCB, you can also choose an NCB Protection Add-on Cover, which protects your bonus even if you make a claim.