GENERAL INSURANCEIRDAI Regn. No. 157
Your car number
Car Insurance
Those who are not aware about the concept of insurance might find car insurance a bit difficult to understand. Some people take it as an investment. Car insurance is not exactly an investment because it does not yield returns like a fixed deposit or a mutual fund. However, it is an important part of your financial plan as it prevents financial losses in cases like a car accident.Car insurance is based on the simple concept of risk sharing. You pay a premium to an insurance company which promises to pay for the car repairs as per the terms and conditions of the policy.The following sections will help you to understand important points about car insurance and act as a guide to buy best comprehensive car insurance or zero depreciation car insurance online. Also check out the frequently asked questions section related to car policy.Buy/Renew Car Insurance Online in Simple Steps
Buying or renewing your car insurance online is a simple, easy, and convenient process. You can buy/renew your car insurance policy within minutes by following the steps mentioned below.
How Acko Car Insurance Works
Acko General Insurance offers inexpensive policies and a wide range of Add-on covers to customize it as per your requirements.
Start with entering your car number or selecting your car.
To make your process easier we do the hard work of fetching your car details from your car number and ensuring that it is accurate. However, if you do not remember your car number you can always select your car on your own.Just answer a few simple questions about your car.
We have kept these questions extremely simple like where do you drive or if your previous policy has expired or if you remember when you claimed last.
View amazing online car insurance plans and prices tailor-made for you.
We strive hard to offer you the best prices in the market. You can select your own IDV and apply myriad offers available to you to get to an optimal price. When you are ready, just select a price.Choose a price, make payment and the policy will be in your inbox in seconds.
6 Factors that affect your car insurance cost
FACTOR # 1
IDV Affects Your Premium Amount DirectlyThe higher the IDV, the higher is your
premium. You can opt for a lower IDV, but doing so may result
in a lower claim amount for your policy. If the damages incurred
to your car are more than the IDV, that you declared, you may
have to pay the difference from your pocket.
Value of your Car
Insured Declared Value (IDV)Your insurance premium depends on a market value for your car set by the insurer. It’s called the Insured Declared Value or IDV. This IDV changes as your car ages due to depreciation as parts of your car get depreciated due to wear & tear with time.IDV Affects Your Premium Amount DirectlyThe higher the IDV, the higher is your
premium. You can opt for a lower IDV, but doing so may result
in a lower claim amount for your policy. If the damages incurred
to your car are more than the IDV, that you declared, you may
have to pay the difference from your pocket.
FACTOR # 2Since Comprehensive Car Insurance
offers greater coverage than a Third-party Insurance, it costs more.Your basic Comprehensive Car Insurance
premium consists of Cost of Third-party Cover, Cost of Own
Damage Cover, and Personal Accident Cover for the owner
Type of Car Insurance
Not every four-wheeler insurance policy offers the same coverage. It depends on the type of car insurance policy you buy. There are two main kinds of car insurance policies in India:Third-party Car Insurance
A Third-party Policy is the most basic type of car insurance policy. It covers, the injuries caused to another person and his/her damaged property. This kind of car insurance policy has the lowest premium. Buying a third-party car insurance policy is mandatory by Indian law.Comprehensive Car Insurance
This policy covers all kinds of damages — to your car, another person’s property, and the insured car’s owner-driver. Cause of damages can include Collision, Theft, Fire, Sabotage, Natural occurrences or Man-made calamities.Since Comprehensive Car Insurance
offers greater coverage than a Third-party Insurance, it costs more.Your basic Comprehensive Car Insurance
premium consists of Cost of Third-party Cover, Cost of Own
Damage Cover, and Personal Accident Cover for the ownerFACTOR # 3
Add-on Coverage
You can increase the protection your four-wheeler insurance offers with the help of Add-ons. The more the Add-ons on your auto insurance policy, the higher the car insurance premium.Add-ons add an extra layer of insurance to your Comprehensive car insurance policy. You can choose from a variety of Add-ons to make your car insurance cover extensive. Make sure to buy only those Add-ons that add value to your policy.The 5 most common Add-ons areZero Depreciation
Engine protection
NCB protection
Invoice Cover
Roadside Assistance
Zero Depreciation or Bumper to Bumper Add-onZero Depreciation or Bumper to Bumper is
an Add-on to a Comprehensive Car Insurance Policy. If you opt for
this cover, your insurer will not take depreciation into account
at the time of a claim. It has the highest premium as compared
to a Third-party Liability and Comprehensive Car Insurance Policy.Unlimited claims are allowed under the Benefit Zero Depreciation.
Unlimited claims are allowed under the Benefit Zero Depreciation.Why Zero Depreciation Add-on?The value of your car decreases with time. This is
called depreciation. Your insurance company only pays a portion of the
bill as the remaining amount is deducted on the account of depreciation.
As per this Add-on, your insurer will pay the maximum payable amount of
the whole bill without considering depreciation.
Engine ProtectionUsually, damage to the car’s engine is not covered
under a regular Comprehensive car insurance policy. An engine is the most
crucial part of a car, also one of the most expensive. Therefore, it is
important to cover your car’s engine under your car insurance policy.
You can do so by purchasing an Engine Protection Add-on.
No Claim Bonus (NCB) ProtectionInsurance companies offer a No Claim Bonus in case you
do not raise a claim against a Comprehensive car insurance policy during the
previous policy period. This discount can be availed while renewing your car
insurance policy. However, if you raise a claim, the insurance company will
not offer you the NCB. But there is a way out. You can purchase the NCB
protection Add-on and your NCB will remain intact even if you raise two
claims during the policy period.
Invoice CoverThis Add-on is popularly known as Return to Invoice cover
or Invoice Protection Add-on. What this means is that in case your vehicle
undergoes total loss or is stolen; your insurer will provide you the amount
mentioned in the invoice as compensation. Without this Add-on, you will be
offered the Insured Declared Value of your car in case of a total loss or theft.
Roadside AssistanceThis Add-on comes extremely handy in case you need the
services of a mechanic in the middle of your journey. Your car’s tire can go
flat or its engine can face issues during the drive. With a Roadside Assistance
Add-on, all you have to do in such a situation is call your insurance company
and they will send help right away.
FACTOR # 4
Your Car’s Age
The Insured Declared Value or IDV depends on your car’s value. However, the value of your car reduces every year. So, the older a car is, the lower is its value. This can lower your premium and the sum assured.However, age also makes a car riskier and more susceptible to damages. Car insurance companies often check your car’s health while deciding the premium.FACTOR # 5
Extra Security Features
One of the easiest ways to reduce your four-wheeler insurance premium is by installing anti-theft and other security features. This is because insurance companies are in the business of lowering your risk. The lower the risk, the lower is the price of your premium.FACTOR # 6
Your Claim History
Car insurance companies reward good drivers and those who do not claim.This is done through a ‘No Claim Bonus’ and is in the form of a discount on your insurance premium. No Claim Bonus reduces your car insurance cost.
What's Covered in a Car Insurance Policy
Third Party
Comprehensive
Comprehensive + Zero Depreciation
Damage to a third-party vehicle
Own Damage
Theft
Damage due to fire
Damage due to natural causes
Personal Accident cover
Depreciation fees
Engine protection
Optional Add-on
Optional Add-on
NCB protection
Optional Add-on
Optional Add-on
Invoice cover
Optional Add-on
Optional Add-on
What’s not covered in a Car Insurance Policy
Damage when driving under the influence of
alcohol or intoxicating drugs
Damage during war and similar conditions
Damage when policy is not active
Regular servicing and expenses due to wear and tear
Damage to tyres, tubes, and engine unless
they are damaged due to an accident
Damage when driving without a valid license
Items stolen from your carImportance of a Car Insurance Policy
A Comprehensive car insurance policy is important from two standpoints – legal compliance and financial safety. A Comprehensive policy includes the mandatory third-party cover and it offers Own Damage cover as well. This way, you comply with the law of the land which says that all cars plying on Indian public roads must be insured with a Third-party Liability policy. Apart from fulfilling the legal obligation, you also get the insurance coverage of Own Damage. This means, your car will be insured against unexpected events such as fire, damage due to flooding, theft, etc.Nowadays, the cost of repairing even a minor car damage is on the higher side, without proper insurance coverage, you will have to spend a lot to repair your damaged car. Besides, car insurance companies offer extra services such as free pick up and drop, cashless claims settlement, etc, to make your insurance experience hassle-free.Understanding the Features of a Car Insurance Policy
Liability
If you happen to injure a person walking on the street while driving your car or if you damage someone’s property while driving your car, you are liable to compensate the person for the damage. Third-party car insurance cover insures you against this liability.Own Damage
There are numerous ways in which your car can get damaged. It can get damaged due to a fire accident, a tree can fall on it, its engine can get affected due to water logging, so on and so forth. Repairing a damaged car is an expensive affair and a car insurance policy can protect you from spending your hard-earned money on car repairs. The insurance companies will get your car repaired as per the terms and conditions.Personal Accident
A car insurance policy also comes with a Personal Accident Cover. This means that if you suffer permanent disability while driving your car the insurance company will offer you compensation as per its terms and conditions.Add-ons
You can strengthen your Comprehensive car insurance cover by purchasing Add-ons. Add-ons are additional coverages that offer an extra layer of insurance for a premium. Note that you can only opt for Add-ons with a Comprehensive policy and not with a basic Third-party Liability policy.Services
Apart from providing the cover, insurance companies also offer some extra features. Digital insurers are ahead of their traditional counterparts in this regard. You can purchase a policy within minutes from a digital insurer. Their claims settlement team is highly responsive as well.Benefits of Buying Car Insurance Policy Online
A decade ago, it would have been okay for people to be apprehensive about purchasing car insurance online. However, things have changed drastically in the recent past. The financial services sector has changed for the better with the advent of the digital era.Nowadays, almost all financial services can be availed online. Car insurance is not far behind. Now, you can insure your car within two minutes by going online. Some people might be used to the traditional way of insuring their car but change is the only constant. If those people also try this new way of insuring their vehicle, chances are bright that they might also find it convenient. Read ahead to know the major benefits of insuring your car online.Legal ComplianceYou will be complying with the law of the land by insuring
your car with a Third-party car insurance cover. You will be safeguarded from
penalties and legal issues arising due to non-compliance.
Easy ComparisonIf you look at the traditional way of purchasing a car
insurance policy, the first step of researching and comparing policies itself
is a tedious one. Imagine going around one company’s office to another for
quotes. An agent can do that for you but trusting an agent to be unbiased
and completely transparent is also challenging. Alternatively, you can compare
car insurance policies online easily. You can read and understand the features
of the policies, compare their quotes, and make an informed decision while
buying the policy online.
Right DealComparing and buying car insurance online will result in
you getting the best deal with respect to the insurance cover, premium, and
the services. You have to make sure that you are comparing similar policies.
For example, compare Comprehensive plan plus an Add-on with a similar cover
offered by a different insurer to make the right analysis and get the best deal.
No PaperworkA lot of people find form-filling quite a hassle. In the
online set up, you do not have to submit hand-filled forms and a bunch of
supporting documents. All you have to do is fill a short online form as a part
of the purchase journey and you will be through to the purchase button. That’s
all, no paperwork.
ConvenienceWhile buying car insurance online, you will have the
convenience of purchasing it when you want to. You can also purchase it from
where you want to. For example, you can simply use your smartphone to purchase
car insurance on Saturday night. Buying car insurance online is a convenient
option as compared to purchasing it from an agent or an insurance company’s
branch office.
Quick Receipt of PolicyIn the online process, you receive your car insurance
policy instantly. Your car insurance policy is delivered in your registered email
id’s inbox almost immediately after the payment is processed.
Credible Insurer CheckYou can check the credibility of your car insurance providing
company with the help of a simple search in Google. Going through their social media
handles will also give you an idea about the company’s credibility.
Valid PolicyPolicies purchased online from certified insurance companies
are completely valid policies. You might be cheated by an agent but it is hard to
be cheated if you purchase the car insurance policy directly from the certified
insurance company’s website.
Easy to Understand and Buy OnlineBuying car insurance online is not complex. You do not
require the expertise of a professional to do so. If you feel you need some
clarification, you can go through the Policy Wordings or connect with the
insurance company via call or email to get your issues resolved.
Benefits of Renewing Car Insurance Policy Online
Car insurance policies come with an expiry date. Usually, they last a year unless you have purchased a long-term policy. You are required to renew your policy before its expiry date to keep the coverage going. Failing to do so will leave you without coverage. Driving without an active policy is a legal offence, thus you must not let your policy lapse and drive. Here are some benefits of renewing car insurance online.Time-saving
Renewing car insurance online is a convenient process. It saves you a lot of time. You can simply log in to your account on the insurance company’s website and renew your policy. It is not necessary to log in as well, you can follow the purchase journey and your car’s insurance policy will be renewed within minutes.Safe
It is safe to renew car insurance online. However, make sure to renew from a certified website. Insurer’s follow a secured online process. The online policy renewal process is transparent and safe.Chop and Change
It is very easy to chop and change your plan if you renew your policy online. You can customize your plan at the click of a button. You can read and understand the features easily and choose what works for you without relying on an agent or a professional to help you out.Portability
If you did not like the services of your previous insurance company or have come across a new digital-first insurance company that is offering a better policy, you can easily switch between insurers while renewing your car insurance policy online.Avail Additional Discounts
Acko offers low-priced insurance products that are affordable yet feature-rich. Perks of being a digital insurer!Prompt After-sale Services
Get useful after-sales services like instant pickups, fast repairs, doorstep delivery and more. Team Acko is often praised for these.Continued No Claim Bonus
By renewing your comprehensive policy, you will keep the No Claim Bonus (NCB) intact. NCB is a discount for not raising a claim.Advice From Experienced Professionals
Get you insurance-related queries solved from our experienced professionals. They will guide you to buy the most suitable policy.How to Calculate Car Insurance Premium
Car insurance premium depends on a lot of factors. Your car’s make and model, the location where you will be driving the car, the vehicle’s age, the kind of policy chosen, number of Add-ons selected, etc. play a role in determining the vehicle’s insurance premium. For example, a five year old Wagon R with a Comprehensive plan and no Add-ons driven in Mumbai will have a different premium than a three year old Wagon R with Add-ons driven in Jaipur. The premium also depends on crucial factors like the vehicle’s Insured Declared Value (IDV), Voluntary Deductible and No Claim Bonus (while renewing).While purchasing car insurance online, you do not have to calculate the premium yourself, the insurance company’s website will do it for you. You just have to answer the simple questions asked during the purchase journey and you will come to know the car insurance premium within minutes.Apart from entering information during the purchase journey, you can simply enter the basic information in the car insurance premium calculator to know the premium. You can play around with the value to check out different combinations of premium-price quotes. Checking out quotes via car insurance premium calculator is mostly free of cost. You can do so on aggregator websites as well as insurance company’s websites.
Third-party Car Insurance Cover Vs Comprehensive Car Insurance Cover
The Third-party Liability cover and the Comprehensive cover are the two major types of covers in car insurance. Deciding between the two is the primary task while choosing a car insurance cover. Here’s a table that will highlight the difference between the Third-party Car insurance cover and a Comprehensive car insurance cover.Meaning
Third Party
A Third-party Liability cover is the simplest of the covers. It is a basic policy that is designed to cover injuries to third parties and damage caused to third party property while driving the car. This is mandatory car insurance as per The Motor Vehicles Act.Comprehensive
A Comprehensive cover is an evolved cover. It covers the basic Third-party cover as well as offers insurance coverage against Own Damages. Therefore, this cover meets the legal requirements as well as offers all-round insurance coverage.What does this type of policy cover?
Third Party
As the name suggests, this type of policy covers injury to third parties and damages to their property. For example, if the insured car goes out of control and injures a pedestrian walking on the footpath, this policy will cover the charges for treating those injuries. This cover also includes a basic Personal Accident cover for the owner/ driver which insures the owner / driver against permanent disabilities and death while driving the vehicle.Comprehensive
This is named as a Comprehensive cover because it covers Third-party liabilities, includes Personal Accident cover as well as offers Own Damage Cover. This means, the insurance company will cover for losses in case your car is damaged due to fire, flooding, etc. It also offers a theft coverage.Benefit
Third Party
This cover ensures that you comply with the law of the land. Driving your car without this basic coverage is a legal offence. It can lead to a penalty of Rs. 2000. Worse, you can also face imprisonment.Comprehensive
This cover ensures that you comply with the law of the land as well protect your finances (related to car repairs) in case of events such as an accident or a natural disaster.Disadvantages
Third Party
The disadvantages of this policy are its limitations. It only offers basic coverage. It does not cover Own Damage.Comprehensive
The major disadvantage of this type of cover is that it is expensive as compared to a Third-party Liability policy. The premium that you have to pay to avail a Comprehensive cover is comparatively higher than what you pay for a basic Third-party Liability cover.Personalization
Third Party
It is not possible to customize this plan. This plan is very rigid in nature.Comprehensive
You can personalize this plan with the help of four primary points: Insured Declared Value, Voluntary Deductible, Security Devices, and Add-ons. Increasing or decreasing your car’s IDV will have a direct impact on the premium. Choosing a Voluntary Deductible and adding Security Devices will lower your premium. Opting for Add-ons will increase the premium.Price Volatility
Third Party
The premium for this kind of a cover is determined by the Insurance Regulatory and Development Authority of India (IRDAI). Usually it increases by a small margin on an annual basis. All insurers charge the same premium for a Third-party Liability policy.Comprehensive
Different insurers can charge different rates for a Comprehensive car insurance policy. This is where the market gets competitive. Digital-first insurers sell policies at a lower premium as compared to old-school insurers. Also, Digital-first insurers do not rely too much on the ‘Agent’ model of selling car insurance.Why should I go for this?
Third Party
You can go for this if you do not use your car often.Comprehensive
You should go for this plan for all-round coverage if you use your car often.Compare and Choose the Best Car Insurance Policy Online
It is crucial to compare policies because that is when you will come to know which is the best deal for you. Once you are sure about the kind of coverage you need, you need to compare the policies to check which insurer is offering the coverage at the lowest price. Not just that, you can also have a look at the value-added services and the credibility of the insurance provider.As there is no difference between the policies offered by different insurers in case of a Third-party Liability policy, you will have to compare based on claim settlement and the credibility of the insurer. For a Comprehensive policy, you will have to look at claim settlement, credibility, premium, coverage, and features.Ways to Compare Car Insurance Online
There are two prominent ways of comparing car insurance online in India. You can either shortlist your options based on brands or other preferred parameters and then individually check the policies offered by those insurers. Or else rely on an aggregator website to give you the comparison at the click of a button. Then you can choose to purchase the policy through the aggregator if that feature is available or go to the insurer’s website and purchase the policy directly.Checking out policies individually is a time-consuming affair. It can be done if you are confused between choosing two or three brands. On the other hand, if you are brand centric, you can choose the option of going through the aggregator website’s way. However, the aggregator website might not display the quotes of all insurers.
Steps to Compare and Buy Car Insurance PolicyListed below are the steps that will help you to
compare and buy your car insurance policy.Step 1Make sure to analyse your car insurance
requirements. Decide if you want a simple Comprehensive cover or do you want
Add-ons as well.
Step 2You can compare individually if you
have a list of brands in mind.
Step 3Do not adjust your coverage. Keep
your coverage fixed and then check which insurer is offering that cover
at a best price with maximum features and better claim settlement services.
Step 4If you are not getting many options
with the exact coverage, try modifying it a bit but not too much.
Otherwise you might end up purchasing a policy at a low premium but
it will not be able to provide you with adequate coverage.
Step 5Go through the features and benefits in detail.
Step 6Get all your doubts resolved and make
an informed decision. Connect with the customer support team if needed.
Do not purchase the policy in a hurry if you have unresolved issues.
Step 7Once you have selected the policy,
make sure to enter the correct details.
Step 8Make the online payment, you will
receive your car insurance policy in your registered email id’s box
within minutes. Verify the details once you receive the policy. If
there are any discrepancies in the policy, get them changed through
the policy endorsement process at the earliest.
Car Insurance Availability
You can purchase car insurance from certified insurance companies like Acko. Insurance companies are certified by the apex body of insurance in India – Insurance Regulatory and Development Authority of India (IRDAI). Insurance companies have to register themselves with IRDAI and follow the rules laid out by the organization.You can purchase a car insurance policy from a variety of car insurance providers in India. If you are wondering which is the best car insurance in India, you will have to look inward first, analyse your requirements, compare plans, and then select a policy that matches your requirements. That's how you will reach the best car insurance policy in India.Car insurance purchased in one city is valid throughout
the country. For example, if you buy a car insurance policy in Pune, it should cover
your car throughout India. However, make sure to check the serviceable areas
mentioned in thepolicy wordings. Also, it is possible that certain features of the
car insurance policy might be available only in select cities.
Here’s a list of prominent Indian cities where car
insurance is easily available.Top Cities
Ahmedabad
Bengaluru
Chennai
Delhi
Hyderabad
Kolkata
Mumbai
Pune
Bhopal
Kochi
Lucknow
Noida
Guwahati
Bhubaneshwar
Patna
Jaipur
Chandigarh
Panaji
Raipur
Gandhinagar
Shimla
Ranchi
Thiruvananthapuram
Dehradun
Also available all over India.
How do I make a quick Car Insurance Claim through the Claim Process?
To raise a quick car insurance claim, you will have to connect with your insurer. They will understand your claim request and let you know whether it is a quick claim or it needs further processing. For example, Acko General Insurance offers instant claim settlement in case of minor damages such as a loose bumper, a crack in the windscreen, etc. For claims that cannot be settled via the instant settlement route, one needs to go through the process of detailed claim registration. At Acko General Insurance, the detailed claim registration process also happens quickly. Here’s the process.Step 1:You have to register the claim by visiting
www.acko.com or by calling on 1800 266 2256 (Toll-Free) or 1860 266 2256
(Chargeable).
Step 2:Car is picked up, usually in thirty minutes
(subject to terms and conditions).
Step 3:Repair status is updated on the website.
Step 4:Repaired car is delivered at your home.
General FAQs
What is Car Insurance?Car insurance is a concept through which you can
safeguard your money in case of damage to your car. The insurance company
will pay to repair the damages of your car as per the policy’s terms and
conditions. You have to pay an insurance premium to purchase a car
insurance policy.What is the meaning of the term IDV in car insurance?The term IDV stands for Insured Declared Value in car
insurance. This is the value you shall receive in case you have a Comprehensive
car insurance policy and it undergoes total damage. For understanding purposes,
this value can be equated with the current market value of your car.How to check car insurance availability?Car insurance is available online as well as offline.
You can choose to buy car insurance online yourself via your preferred insurance
company’s website or get it through an aggregator website. Through the offline
mode, car insurance can be purchased from car dealers, insurance agents and
the branch office of insurance companies.What is Third-party Car Insurance?Buying Third-party car insurance online means you are
insured against third-party liabilities. Thus, it is also known as Third-party
liability insurance. It is also referred to as Act Only insurance. This is
because The Motor vehicles Act makes it mandatory to insure your vehicle with
at least the Third-party Liability car insurance policy if you want to drive
on Indian roads in a legal manner.
Which car insurance is best in India?There is no standard answer for this question. The answer
can vary depending upon your requirements and preference. Some might prefer to
go with a car insurance policy offered by a traditional insurer while some might
go ahead with a Digital-first insurer.How to get a duplicate car insurance copy online?Getting a duplicate car insurance copy online is a simple
process. You can simply log in to your account on the insurance company’s website
and download the policy. If this is not possible, you can get in touch with
your insurance company and they will email the policy to your registered email id.How to download a car insurance certificate / policy?You can download your car insurance certificate/policy by
logging in to your account on the insurance company’s website. You can also request
the insurance company to email it to you.How to find my car insurance policy number?Your car insurance policy number is stated in your policy
document. You can find it by going through your policy document. If you have a
problem locating it, you can contact your insurer to help you out with this matter.
Policy and Premium FAQs
What if there is a mistake in my policy?In case there is a mistake in your policy or you wish to
change some information in your policy, you can connect with your insurance company
and ask for an endorsement. The insurance company will go through your request and
make the changes at the earliest.Is an online policy a valid document?Yes, an online policy is a valid document. You can consider
the policy document sent in your email as a valid car insurance policy document.What If I lose my online policy?If you happen to lose your policy, you can connect with your
insurance company and they will resend your policy. In case your insurance company
has a log in facility, you can log in to your account and download the policy from
there.How to calculate car insurance premium?Car insurance premium is calculated based on your car’s
manufacturer, its model, the age of the vehicle, your location, the chosen coverage
among other things. You do not have to calculate all this manually. The insurance
company’s website will do that for you. Car insurance premium can be found out by
following the steps mentioned in the car insurance purchase journey. You can also
make use of the online car insurance calculator.How to pay car insurance online?You can pay for car insurance online via popular online
payment modes such as net banking, credit card, debit card, etc. In some cases,
you can also make use of online wallets. Make sure you are transacting on the
insurance company’s official website for security reasons.
How do online insurers charge less premium?Online insurers have fewer operating costs. They manage
things digitally thanks to an online set up. This way they spend less on running
their business and can afford to keep their prices lower than traditional insurers.Will the premium differ as per location?While buying or renewing your car insurance policy online,
you are required to input your area’s PIN code. This is because car insurance
premium varies as per location. Car insurance premium in a metro will be higher
than the premium in a tier two city.Will my premium increase If I choose only one Add-on?Add-ons come at a price. You must pay extra to purchase them.
Even if you purchase one Add-on, it will have a bearing on your car insurance premium.
However, sometimes, some companies might package an Add-on with their Comprehensive
plan. In such cases, they might not charge extra for the Add-on.Will the premium reduce if I select a lower Insured Declared Value?Yes, your premium will reduce if you select a lower Insured Declared Value.Will car insurance premium reduce if I do not raise a claim
during the previous policy period?Your car insurance premium might reduce during renewal if
you have not raised a claim during the previous policy period. This is possible
because of the No Claim Bonus feature.
Claim FAQs
How to claim car insurance?To claim car insurance, you should get in touch with your
insurance company. You can do so by calling them, sending them an email or
connecting with the claims team via the insurance company’s mobile application
if they have one. Once you tell them about the reason why you want to apply for
a claim, they will guide you regarding the next steps.How to claim car insurance for Own Damage?Whether it is claim registration for Own Damage or
Third-party, the process begins with informing your insurance company about it.
Based on the nature and complexity of the claim, the insurance company will guide
you regarding how to proceed with the claim application and settlement.What should be my first action to initiate a claim?To initiate a claim, your first step needs to be to get in
touch with your insurance company. You can do so by calling, sending an email or
intimating via the mobile application, if any. Inform the company about your
claim application and they will guide you regarding the next steps.
Is there a need to file a First Information Report to raise a claim?In some cases, you might be required to file a First
Information report (FIR). For example, you will be required to file a FIR in
case of theft claim. You are not required to file a FIR if the claim is for
damage due to flooding. Thus, the answer varies from one case to another.How much time does it take for a claim to be settled?There is no blanket time for claim settlement. The time taken
to settle the claim depends upon the complexity of the claim along with other
factors. For example, if it is a straightforward claim for a dent on the bumper,
it can be settled instantly. For something like damage due to fire, the case will
take probably a month to be settled.What is the meaning of cashless claims?In cashless claims, the garage bill is settled between the
insurance company and the garage. This is possible as they have a tie up. You do
not have to get the car repaired from the garage and then apply to the insurance
company for reimbursement.What is the meaning of reimbursement claims?This is the old-school way of settling claims. You must
first take your car to the garage, get it repaired, and then apply to the
insurance company for claim reimbursement.
Cover FAQs
What is the RTI Add-on in car insurance?RTI in car insurance stands for Return to Invoice. It is
an Add-on which you pay for to get extra coverage. What it means is that in case
of a total loss, you will receive the invoice value of your car and not just
the insured declared value.What is Engine Protect in car insurance?Engine Protect is a car insurance Add-on. This can be
purchased if you have a Comprehensive plan or planning to purchase a Comprehensive
plan. It covers damages to the engine which are usually not covered by just a
Comprehensive policy.What is the meaning of the term NCB in car insurance?NCB in car insurance means No Claim Bonus. What this means
is you get a discount on car insurance renewal if you have not raised a claim
during the previous policy period. It can be viewed as a reward for driving safe
and not raising a claim.How to check car insurance status?Your car insurance policy stays active between the policy
start date and the expiry date. Both these dates are mentioned in your policy
document. Make sure to renew your car insurance policy before the expiry date
to avoid fines and to continue with your insurance coverage.How to transfer car insurance?You can transfer the car insurance policy by filling RTO
form number 28, 29, and 30 and the Clearance Certificate. Once you have these
documents, you can contact your insurance company for further processing.
What does car insurance cover in India?In India, there are two types of car insurance covers -
Basic and Comprehensive. The Third-party Liability cover is the basic one while
a Comprehensive cover includes the basic one as well as offers Own Damage cover.
You can also select from a range of Add-on covers to strengthen your car
insurance policy. Therefore, a Comprehensive car insurance policy with Add-on
offers Third-party liabilities, Own Damage, Personal Accident, and the features
of the selected Add-ons.What is the meaning of the Zero Depreciation Add-on in car insurance?A Zero Depreciation Add-on is extra coverage that your
purchase by paying an additional premium. With this Add-on, you will receive a
claim amount which does not factor in the depreciation value of the vehicle.
Hence the name Zero Depreciation.Where can I check the details of the Comprehensive car insurance policy’s cover?Details are mentioned on the product page of the insurance
company’s website. If you want more detailed information along with the terms and
conditions of the policy, you will have to download the Policy Wordings of the
policy from the insurance company’s website.What is the meaning of deductible?A deductible is a charge that is faced by the policyholder
while settling a claim. It is a minor portion of the amount. There are two types
of deductibles, compulsory and voluntary. A compulsory deductible usually has a
nominal amount that needs to be accounted for from the policyholder in case of
a claim. If you choose voluntary deductible, you will have to contribute a
certain fixed amount (more than the compulsory deductible) in case of claim
settlement.What is the meaning of exclusion?Exclusion in a car insurance policy means that the situation
mentioned under the exclusion section is not covered in the policy. Therefore, if
you raise a claim for a situation mentioned as an exclusion, the insurance
company will not accept the claim application.
Buy / Renew FAQs
Why do I need to insure my car?It is a legal requirement to insure your vehicle in India.
Apart from the mandatory aspect, insuring your car is a precautionary measure
undertaken to overcome financial losses involving the insured vehicle in case
of an unfortunate event such as an accident.What are the steps to renew or buy car policy online from an insurance company?Purchasing motor insurance online involves the following simple steps:How to renew my expired car insurance policy online?The process to purchase a new car insurance policy, renew
an existing policy or renew an expired policy is almost the same; wherein you have
to enter details, choose the plan and make online payment. However, one striking
difference when it comes to renewing an expired car insurance policy is - car
inspection. As our policy has expired, there is a possibility that the insurer
might want to have a look at your vehicle before insuring it.What are the things to keep in mind while renewing or buying car insurance policy online?Here’s a list of things that you must keep in mind while
renewing / buying commercial vehicle insurance online/buying new car insurance
online / buying car insurance policy in India.
Select the preferred insurance company and visit its website
Enter the required vehicle and personal details
Choose insurance plan
Select Add-on covers if applicable
Make secure, online payment
Receive policy in inbox
Renew or buy private / buy commercial car insurance online from a certified insurer.
Always analyse your requirements before searching for a policy.
Compare plans and car insurance price to arrive at your best fit.
Go through the Policy Wordings for detailed terms and conditions of the policy.
Speak with friends and family if they have transacted with your preferred insurance company before.
Make sure to check online user reviews to get an idea about the company’s claim settlement process.
Do not make a purchase decision in a hurry. Take your time and clear your doubts before making the online payment.
How to renew car insurance online?You can renew car insurance online by logging in to your
account on the insurance company’s website and following the renew policy process.
If you have any doubts, you can call the customer support team and they will guide
you regarding the purchase process.How much time will it take to buy/renew a car insurance policy online?Buying or renewing a car insurance policy online is a swift
affair. If you have all the data handy, it will just take less than five minutes
to buy or renew your car insurance policy online.By when will I get my policy document if I buy / renew a car insurance policy online?Unlike the offline process, you do not have to wait for days
to receive your car insurance policy. You receive the document via email in an online
process. In an online process, your car insurance policy will be delivered in your
registered email id’s inbox within minutes after your policy purchase payment is
processed.Is it cheaper to buy / renew a car insurance policy compared to an offline process?Yes, it is considerably cheaper to buy or renew a car
insurance policy online as compared to offline because the premium is less thanks
to low operating expense and digital infrastructure of the online insurance company.
FAQs about Acko Car Insurance
What are the documents required to buy a car insurance policy online through Acko General Insurance?You do not need to submit any physical documents to buy a
car insurance policy from Acko. We hate paperwork as much as you do. That’s why
we help you deal with insurance instantly, simply at the tap of a button.Which risks are covered under Comprehensive Car Insurance policy offered by Acko General Insurance?The following risks* are covered under Acko’s Comprehensive Car Insurance policy:* Please refer to the relevant policy document to understand the coverage in detail.How do I raise a claim when I need to? What information should I provide?You can raise a claim on www.acko.com or contact our call
centre on 1-860-266-2256. When you raise a claim, you should provide the
following information:
Third-party Cover
Damage due to accident
Damage due to fire
Damage due to calamities
Car theft
Injuries to car owner
Your contact number or the vehicle number
Description of the incident and photographs of the vehicle (if possible)
FIR in case of theft, or damage to any third party or their property. You will also get a periodic status update on your claims.
Why Buy / Renew Car Insurance from Acko?Here are some prominent reasons why you should buy/renew your car insurance from Acko.How are prices offered by Acko low?Acko follows a tech-driven insurance process that helps you
to buy / renew insurance online without the assistance of a third-party. Being
digital-first helps Acko to reduce operation cost and offer extensive car
insurance cover at a low price.
IRDA-Licensed insurance company (Registration number 157).
Convenient and hassle-free insurance experience.
Host of benefits like cashless claims, no paperwork, and zero trouble claims process.
3-day turnaround time for claim settlement in select cities (subject to terms and conditions).
Instant policy issuance on processing of payment.
Note that these are generic answers. For exact
policy-related answers, please refer to particular policy wordings from thedownloadspage.
Glossary
Car Insurance terms you would want to know.ADD-ONS
These are extra services and coverage you ask voluntarily for your policy. They push up your premium but also add extra coverage. Thus, it is important to choose the best-suited Add-ons for you.COVERAGE
The coverage and services offered vary across different insurance policies.DEDUCTIBLE
You pay a small portion of the bill, say Rs 1,000. It’s called a Deductible. You can voluntarily increase this to lower premiums. But, at the time of claim, you will have to pay the increased deductible amount from your pocket.IDV
Insured Declared Value (IDV) is the market value of your car. It lowers over time due to depreciationNO CLAIM BONUS (NCB)
Insurers reward you when you do not make a claim. Every consecutive no-claim year gets you a bonus or premium discount called ‘No-Claim Bonus’.ZERO DEPRECIATION
Ensure that your insurer pays you the whole value of your car without deducting any depreciation through a Zero Depreciation cover.
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Acko General Insurance Ltd.Unit No. 301, 3rd Floor, E wing,
Lotus Corporate Park, Off Western Express Highway, Jay Coach,
Goregaon East, Mumbai 400063.Email: [email protected]Phone:1800 266 2256 (toll-free)We’re Socially Active
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CIN:U66000MH2016PLC287385
IRDAI Registration No:157
Category:Non-Life Insurance
Trade logo displayed above belongs to Acko Technology & Services Pvt Ltd and used by Acko General insurance Limited under License.For more details on risk factors, terms and conditions, please read the sales brochure before concluding a sale.