Acko General Insurance, founded in November 2016, is basically a private sector general insurance company in India. In September 2017, Acko General Insurance received its license from the Insurance Regulatory and Development Authority of India (IRDAI). In the race of private general insurers in India, Acko General Insurance Company is one of the newest players.
The company goes behind an online-led market and, therefore all services of the Company are offered through the online-digital platform. Acko General Insurance Company was founded by Varun Dua, who us the Chief Executive Officer.
As of 2018, Acko General Insurance Company has raised $42 million in funding from their investors like Accel Partners, Amazon, Catamaran Ventures, SAIF Partners. The company mainly offers motor insurance. Acko General Insurance Company has partnered with Ola cabs and launched an in-trip insurance program in more than 110 cities in India. The Company has also partnered with Amazon India to provide mobile insurance plans on the retailer's website
- Lower Quotes: With the car insurance plans from Acko General Insurance Company, you can be sure of availing the best price every single time. Acko also provides you with a range of deals and discounts on car and bike insurance premiums online.
- Smart and Convenient: With Acko General Insurance, you can instantly buy car insurance online, just at a few clicks of a mouse. Each step is online based, be it for insurance purchase, claims, support or policy renewal.
- Hassle-free Claims: When it comes to claim settlement, all you have to do is simply give a call at Acko customer care and the rest will be carefully handled by them – be it picking up your car from any particular location, to getting it duly repaired and dropping it back right at your doorstep.
If you are looking for the benefits of purchasing car or bike insurance policy form Acko General Insurance Company, then here are some:
- With Acko car insurance, you can get your claims settled right away, in case of minor damages. Thereafter, you may choose to go to your preferred garage, depending on your convenience to get the damages repaired.
- Acko General Insurance Company provides with low-priced insurance products that are reasonably priced yet rich in feature.
- Acko General Insurance Company guarantees significantly lower premiums on car or bike insurance online.
- Doorstep Service: With the cordial and effective customer services offered by Acko General Insurance, all phases of claim settlement are done by the servicemen with the least amount participation from your side. This comprises of picking up your car to getting it repaired to dropping it back at your doorstep.
- Under Acko, everything associated to car or bike insurance is done online. There is no paperwork involved. Whether you are buying an insurance policy, renewing a plan or filing a claim, everything related to insurance is done online.
Acko General Insurance Company basically offers 2 types of car insurance plans: Comprehensive Car Insurance & Third Party Car Insurance.
- Car Insurance Policy: This is a total car insurance policy, otherwise known as a package policy, which basically provides with complete cover against damages to your car, insured car’s owner-driver, another person’s property, sabotage, theft, fire, collision, natural disasters and man-made calamities. The comprehensive car insurance policy usually costs more since it provides greater coverage than a regular third-party motor insurance.
- Third Party Car Insurance Policy: This is the most essential and basic type of a car insurance plan. A third party car or bike insurance policy basically comes with the lowest premium rates since it provides with minimum cover. A third-party car insurance policy has been designed to cover injuries caused to another person (the third party) and their damaged property. Kindly note that purchasing a third-party motor insurance plan is obligatory in India as per The Motor Vehicles Act, 1988.
Acko General Insurance Company offers a broad range of additional covers which can be added to enhance the protection of your comprehensive car insurance plan.
- Zero Depreciation: A Zero Depreciation cover is also known as Nil Depreciation or a Bumper to Bumper insurance cover. This add-on car insurance has been designed to pay for the complete cost of external care body repairs or replacement, without factoring in any depreciation in the price of the car parts.
- Emergency Roadside Assistance: Roadside Assistance (RSA) makes sure that you avail on-spot rescue in the event of an accident. Emergency Roadside Assistance add-on covers towing fee, emergency fuel delivery, repair of flat tyres, key services, cab services, immediate car works, ect.
- NCB Protect: No Claim Bonus (NCB) protector add-on cover guarantees that you are entitled for the No Claim Bonus (NCB) even after filing a maximum of 2 claims in a single policy year.
- Invoice Protection Cover: An Invoice Protection Cover add-on cover is also known as a Return to Invoice value cover, which has been designed to provide with total financial security to your car. If you include Invoice Protection Cover in your comprehensive car insurance plan, you may be entitled to avail as much as the invoice value of your vehicle, in the event of total loss of your car. The amount that you will get also consists of the registration costs of your car as well as the road tax paid.
- Engine Protection Cover: The Engine Protection Cover add-on offers protection for repair and replacement of engine parts such as pistons, connecting rods and others.
- Consumable Cover: The Consumable Cover add-on provides cover for the consumables like engine oil, radiator coolant, oil filters, lubricants, grease, AC gas oil, bolts, gearbox oil, nuts, power steering oil and washers.
What Does a Car Insurance Policy Cover?
- Any damage caused due to an accident.
- Fire: This comprises damages caused to your car by reason of self-ignition, lightning and explosion.
- Theft: Will cover in case your car is stolen.
- Calamities: Both natural and man-made calamities such as riots, earthquake, etc. are covered
- Third-Party Losses: Car insurance policy offers coverage against damages to a third-party perosn or property.
- Car Owner Cover: Offers coverage against the damages to the insured’s car as well as the insured.
What’s Not Covered under a Car Insurance Policy?
- Illegal/Unlawful Driving: You will not be covered under a car insurance plan if you were driving without a valid license, under the influence of drugs/alcohol or any other intoxicants.
- Non-Accidental Damage: This includes wear and tear, failures, breakdowns, liabilities, consequential damages and deductibles.
- Engine, Tyres & Tubes: Damage to tyres, tubes, and engine is not covered unless they are damaged owing to an accident.
- Any damage due to war and similar conditions
- Any damage when the policy is not active
The whole claim settle procedure of Acko General Insurance Company is conducted online. The claim settlement process at Acko car insurance is as follows:
- Step 1: You will be required to register your claim by simply dialing Acko’s helpline number at 1860 - 266 – 2256 in the event of an accident. After registering the claim, you will have to drive your car to the nearest repairing shop/garage or get it towed.
- Step 2: A surveyor is assigned within 24-48 hours, once the claim has been registered.
- Step 3: You will be required to provide the relevant KYC details – PAN card, RC Book, Driving License, Aadhaar card, Policy Copy, Claim information Form and a repair estimate.
- Step 4: Once the surveyor has evaluated the KYC and damaged car, they will either refuse or agree to the claim. Only after the approval the repair works shall being.
- Step 5: After the repair work is over, a survey is conducted followed by a delivery order and the car is delivered to your doorstep.
The entire procedure of insurance renewal can be completed online without any hassle. With Acko General Insurance Company, there is no offline process to renew your policy. You can renew your car insurance policy with Acko General Insurance Company by following the below-mentioned steps:
- Simply visit Acko General Insurance Company’s official website
- The, choose the car insurance tab
- Now, you will be required to enter your car number
- The search engine will determine the renewal status automatically along with the payable premium amount
- Next, you will be asked a number of questions about your car
- After answering, you will have to make the payment online
- The policy will be renewed right away.
[Note: All the above-mentioned information has been sourced from Acko General Insurance Company’s official website.]
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