ACKO Car Insurance

Having car insurance is vital and gets you covered during emergencies. Theft, burglary, car accidents, impact on your car due to cyclone, flood etc are all covered under your car insurance saving you from financial burden and stress. Acko has one of the most sought after car insurance in the industry offering all types of car insurance.

About Acko Car Insurance

Founded in the year 2016 [1], ACKO Technology and Services Private Limited, (Acko) is the parent company of ACKO General Insurance. It is a digital-first company that builds and operates a direct-to-consumer platform. Trusted by over 6.2 crore customers, Acko has issued 8 crore plus policies so far. [2] This page will give you an idea about the offering under Acko Car Insurance. The content will cover key features of the company, key metrics, eligibility for buying a car insurance, types of car insurance plan offered by Acko, price, key add-ons and frequently asked questions.

Key Features

Mentioned below are some key features of Acko Car Insurance:

1. Zero Depreciation: The value of your car starts depreciating as soon as it is out of the showroom. Zero depreciation locks the price of your car and makes sure that it does not depreciate till the time it is covered under zero depreciation.
2. Towing Assistance (till 50 kms): Avail towing assistance on the road in case of emergency for up to 50 kms. This assistance is very useful when you are on a highway or when there is nobody around you to help.
3. Free Pick-up & Drop: A vehicle pick-up and drop service helps you in getting your vehicle moved to the nearest cashless garage. Note that this service is available only in select cities.
4. 12 Minutes Claim Settlement - Acko has one of the fastest claim settlement process in the industry of as less as 12 minutes. [2]

Key Metrics

Refer to the tables below to check the key metrics of Acko Car Insurance:

Types of Car Insurance Plans Offered by Acko

Here are the list of plans offered under Acko’s Car Insurance [3]:

1. Third-party Liability (3PL) Car Insurance - Made mandatory by law, a third-party liability car insurance covers you financially in case you have caused any accidental damage to someone’s property or any injury or death to a third party.

1. Comprehensive Car Insurance - In addition to covering all benefits of a third party liability car insurance, a comprehensive plan also covers any damage caused to your vehicle by any natural calamity like flood, cyclone, earthquake etc, fire, theft, burglary or accident.

1. Stand Alone Own Damage (SAOD) Car Insurance - A stand alone own damage car insurance provides protection for your car from any damage caused due to road accidents, natural disasters like earthquake and cyclone, fire, riot or theft.

Add-ons offered by Acko Car Insurance

Add-ons are additional coverage that you opt for along with your health insurance plan. These add-ons are available to you when you pay an additional premium. Mentioned below are some of the top add-ons offered by Acko Car Insurance:

• Zero Depreciation: Zero depreciation add-on helps in locking the price of your vehicle helping you recover the depreciated amount at the time of sale.
• Consumables Protect: This add-on helps in recovering the cost of repair and replacement of consumable items like nuts and bolts, grease, distilled water, washer, oil filter, engine oil, brake oil, etc.
• Engine Protect: Especially beneficial for people living in flood prone areas, an engine protect add-on covers the price of any repair or replacement of your current engine.
• Garage Cash: Avail daily cash amount if your vehicle is under maintenance at a cashless garage. This daily cash amount can be used to pay your cab and auto bills.
• Loss of Personal Belongings: In case your personal belongings like laptop, clothes, gym equipment etc get lost during an accident or theft, this add-on keeps you covered.
• Roadside Assistance: Having roadside assistance add-on helps you in case of emergencies especially on a highway or at night where you get towing assistance for your vehicle and assistance in getting you petrol or other repair assistance if needed.
• No Claim Bonus Protection: This add-on helps to safeguard your no claim bonus in case your car gets damaged while it is parked or in the event of a natural calamity.
• Emergency Assistance Cover: This add-on helps with getting minor repairs, tyre change, battery jumpstart services in case of emergency.
• Cost of Consumable Items: With this add-on you can get reimbursement for any cost incurred while replacing your consumable items like brake oil, fuel filter, oil filter etc.
• Key Cover: This add-on gives your car keys the much needed protection especially if you own an expensive car. In case you have lost or misplaced your key, you can buy a new one and get reimbursed for the same.
• Tyre Cover: In case your car tyres are lost, damaged or has been stolen, this add-on will come handy in getting you reimbursed for the cost incurred of replacement of tyres and any additional labour charges incurred for repair or replacement.
• Driver Cover: In case you have a hired driver, this add-on becomes essential as it covers personal accident costs for the driver listed in your insurance policy.

Note for Premium Vehicle Owners: It is advisable to take a key and tyre cover for people who have a premium vehicle or a car which has a buying price value greater than INR 15 Lakh.
Note for People Who Have Paid Drivers: For people who have a paid driver or chauffeur, it is advisable that you take a drivers add-on to protect the said driver in case of any accident.
Note for People Who Often Travel by Car for Work or Leisure: If you are an individual who travels long distances in your car or are mostly on the road, taking a loss of personal belonging add-on is going to be beneficial for you.

ID Recommended Car Insurance Plan and Add-ons

Note 1: Personal Accident Cover is Mandatory by Law Note 2: Third-party Car Insurance is Mandatory by Law

Eligibility To Buy a Car Insurance Plan

Here’s a list of things you must have to buy a car insurance plan:

• Your car must be registered under the Regional Transport Office (RTO)
• Your car registration papers are a must-have
• You must have a valid driving licence
• You may be asked for certain additional documents based on the insurer you choose

Factors to Consider Before Buying or Renewing Your Car Insurance

Here are the major factors that you should consider before you buy or renew your car insurance:

1. Credibility of the Insurer: You must research the credibility of your insurance provider. It is necessary to check the claim settlement ratio, number of cashless garages and overall customer reviews of the insurer.
2. Add-ons Required and Add-ons Offered: It is important to look at the add-ons offered with the car insurance plan you intend to buy. Add-ons can differ insurer to insurer and plan to plan. It is important to analyse which add-ons you required and if the insurer is offering them under the plan of your choice.
3. Deductible: The compulsory or voluntary deductibles you are willing to pay and have opted for should also be a factor to look at.
4. Risk Exposure: In case you are someone who travels a lot or frequently travels to risk prone areas, it is important to consider this as a critical factor while buying or renewing your car insurance.
5. Extra Features: It is important to stay abreast of all news and updates of the industry before purchasing a new insurance or renewing your insurance.

What Is Covered and What is Not Covered?

Here are all the major inclusions and exclusions that you should know about under Acko Car Insurance:

Inclusions:

1. Natural disaster coverage like floods, storm, cyclones, earthquakes, etc
2. Personal accident cover worth INR 15 Lakh
3. Access to cashless repairs in over 2000+ network garages
4. Choose from 12 add-ons
5. Coverage for accidents, theft, and terrorism
6. Coverage for third-party legal liabilities
7. Up to 50% no-claim bonus

Exclusions:

1. Vehicle’s ageing and wear & tear
2. Mechanical and electrical breakdowns
3. Any damage caused when you are under the influence of alcohol or drug
4. Damaged caused while driving without a licence
5. Any loss that is consequential
6. Loss or damage due to war or nuclear risk

How to Claim?

Usually, raising a claim can be a tedious process and if you do not have all the required documents in place, chances of claim rejection are high. However, you can connect with an InsuranceDekho advisor who can assist you in making sure all your paperwork is in place and your claim is reimbursed properly and in a timely manner. You can connect with our advisor on our helpline number +91- 7551196989 or by emailing us at support@insurancedekho.com

Additionally, you can also contact your insurer’s claim support team.

Factors Affecting Premium of Your Car Insurance

Several factors can impact the premium of your car insurance, some of the major ones are listed below:

1. Car Model: Your car model type impacts the premium of your car insurance significantly. In case the price of your car is more than INR 15 lakh, then the premium of your car automatically increases. Premiums of luxury cars will be relatively higher.
2. Driving Record: Your past driving record also affects your premium price. If you have any breach of traffic rules or accident history, the premium will be high.
3. Credit History: Your bank credit history also has a role to play in the price of the premium you will pay. It is important to have a good credit history to avail lower premiums.
4. Geographical Location: Your geographical location also helps in determining the cost of your premium as the premium to be paid in a metro city will be different from that of a non metro.
5. Deductibles: Deductibles are the amount you pay in advance to your insurer as agreed upon. This amount is then going to partially cover your vehicle while the other half will be covered by your insurer.
6. Age of Vehicle: If your vehicle is under five years of age, it is considered as a low-risk vehicle while the ones above 5 years are considered as high risk. The amount of your car insurance premium increases if your vehicle’s age is above 5 years.
7. Add-ons Taken: With each add-on you take, the premium price of your vehicle increases.
8. No-claim Bonus: If you get a no claim bonus, it will help in reducing the price of your premium. This only applies to people who are renewing their insurance from the same insurer.
9. Insured Declared Value: One of the most crucial factors that impacts the price of your car insurance’s premium is Insured Declared Value (IDV), it determines the current value of your car.

What is Insured Declared Value and How is It Calculated?

An Insured Declared Value (IDV) determines the current market value of your car, this market value helps in figuring out the cost of your premium. IDV also helps in providing you the remuneration in case of theft or total damage of your car.

Calculating Insured Declared Value (IDV)?

An IDV calculator serves as a tool that identifies the present market value of your car and assesses the corresponding car insurance premium.

Acko Car Insurance Renewal Process

The process of renewing your car insurance happens yearly. You must be updated with current insurer and industry updates and then choose to either renew the same policy or buy a new one. For renewing your policy through InsuranceDekho or for purchasing a new one during the renewal time, follow the steps as mentioned above in the “how to purchase car health insurance” section.

Car Insurance Customer Service & Support

We at InsuranceDekho strive hard to support our customers during all their insurance-related requirements. In case you need any assistance or help, you can connect with our support team on call on the following number +91-7551196989 or email us with your queries at support@insurancedekho.com. You can also reach out to the Acko Car Insurance Customer Team.

Acko Complaints & Grievance Redressal

For raising a complaint or getting your grievance addressed, reach out to Acko Car Insurance in the following ways:

• Call them at toll-free number 1800 266 2256
• Write them here: #36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
• Email them at hello@acko.com