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Q: Is it compulsory for car owners to have Comprehensive Insurance?

No, unlike a Third-party Car Policy , it is not compulsory for car owners to possess Comprehensive Insurance coverage. Nevertheless, it is valuable because it financially shields against different scenarios.

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Car insurance offers financial protection against unexpected car-related costs depending upon your chosen policy. There are two types of fundamental four-wheeler policies available in India, namely, Third-party and Comprehensive Car Insurance Policies. On this page we will unravel the Comprehensive Cover in detail.

What is Comprehensive Car Insurance?

A Comprehensive Car Insurance Policy is a financial shield that covers several car-related expenses arising due to accidents, calamities, and other covered instances. The policy provides the legally mandated Third-party (TP) cover along with an Own Damage (OD) Cover making it an extensive, all-in-one policy. At ACKO we offer Comprehensive Insurance at a low cost without compromising on the coverage.

What are the features of a Comprehensive Car Insurance Policy?

The following are the key features of a Comprehensive Car Insurance Policy.

In one policy you get both the legally required third-party cover and coverage against damages to your own vehicle.
Cashless repair in a network garage in the unfortunate event of your insured car sustaining accidental damages.
Coverage against third-party liabilities like accidental injury, death or property damage caused to a third party.
Compensation for costs arising from damages caused by natural and manmade disasters like fires, floods, riots, etc.
Coverage in the event of your four-wheeler getting stolen or if it incurs damage beyond the scope of repair.
Option to select add-ons to further customise and enhance the coverage of the policy.

Benefits of buying Comprehensive Car Insurance from ACKO

Here are some of the benefits of Comprehensive Car Insurance offered by ACKO. Note that this is an overview, please refer to respective policy wordings for details.

1. Low-cost policies

Since we are a digital-first insurance company, we save a lot on operational costs. We also sell commission-free insurance by bypassing middlemen. Both these factors help us provide low-cost car insurance policies.

2. No paperwork

Say goodbye to boring and time-consuming paperwork. You don’t need to fill out physical forms to buy ACKO car insurance. If you have an internet-connected phone or desktop, you can buy our insurance policy from anywhere with just a few clicks and in no time.

3. Swift claims for minor damages

We make sure that your claims are settled speedily. Claims raised for minor damages to your insured four-wheeler are usually settled in just a few hours of the request.

4. Free pick up and drop

If your car is unfortunately damaged due to an accident, we will come to your location in an hour, pick up your car, and take it to one of our network garages. Your car will be repaired and returned back within 3 days and at no additional charge as per policy terms.

5. 24x7 assistance

Accidents can happen at any time. Thus, we are always available for assistance. If you meet with an unfortunate accident, you can contact us irrespective of the time. We will try our best to provide the necessary assistance.

How to buy ACKO Comprehensive Car Insurance online

If you haven’t previously bought online car insurance from us, here are the steps to do so.

Step 1

Head to ACKO’s website or smartphone app. After that, enter the details of your car and previous policy (if applicable).

Step 2

Based on the coverages you are looking for, choose from our distinct range of four wheeler insurance plans and add-ons.

Step 3

Pay online to complete the transaction and receive the policy document instantly at your registered email address.

Inclusions

Exclusions

What does Comprehensive Insurance cover?

A Comprehensive Car Insurance protects you financially against the following accident scenarios.

✅ Damages incurred by your vehicle as a result of an accident.

✅ Damages that are a consequence of natural calamities such as floods, cyclones, earthquakes, etc.

✅ Damages that are a consequence of manmade calamities like riots, vandalism, fires, etc.

✅ Injury, death or property damage to a third party caused by your car.

✅ Theft of your four-wheeler.

✅ Other inclusions as per chosen add-ons.

What does Comprehensive Insurance not cover?

A Comprehensive Car Insurance does not offer coverage under the following circumstances.

❌ Damages incurred while taking part in illegal racing competitions.

❌ Driving under the influence of alcohol or some other intoxicating substance.

❌ Driving with disregard for road and traffic rules.

❌ Driving without legally required documents like a driver’s licence, insurance policy, pollution certificate, etc.

❌ Regular wear and tear of vehicle parts over time.

❌ Issues resulting from mechanical or electrical malfunctions in the vehicle.

❌ Damages occurring outside the geographical scope defined in the policy document.

Note: A Personal Accident (PA) cover is usually not bundled with a Comprehensive Car Policy. Hence, it needs to be bought separately. Nevertheless, as per The Motor Vehicles Act of 1988, it is a mandatory requirement for car owners, along with third-party insurance. It offers lump-sum compensation in the unfortunate event of accidental disability (or death) occurring to the insured.

Add-on covers under ACKO Comprehensive Car Insurance

If you opt for our Comprehensive Car Insurance, here are some add-ons you can select and benefit from. Note that add-ons are subject to availability and changes.

Zero Depreciation Cover

If you raise a claim for a damaged car part, your settlement will be subject to the depreciated value of the part. So, you will receive only a fraction of its total cost. However, if you purchase a Zero Depreciation Cover, depreciation will not be computed and you will be compensated in full.

Roadside Assistance Cover

This cover is very useful if your car breaks down and you are stranded in the middle of nowhere. In such a situation, all you have to do is give us a call. We will provide you with 24x7 emergency roadside assistance. This includes towing service for your immobile four-wheeler.

Key Replacement Cover

The cost of replacing lost or stolen car keys can be on the higher side; especially if they have a remote access feature. Having a Key Replacement Cover will help you replace them at no additional cost to you. Also, in the case of physical damages, repair costs will be covered too.

Outstation Emergency Cover

This cover comes in handy if you encounter an unfortunate accident/breakdown when you are around 100 km away from your residence. However, you can claim only limited times, as defined in the policy document.

Consumables Cover

Engine oil, gearbox oil, nuts, bolts, etc, are known as consumables. Costs for such consumables are not usually not covered under a Comprehensive Policy and you need to purchase a Consumables Cover add-on for it. However, in certain cases, the cost of consumables can be a part of the Comprehensive Policy itself.

Engine Protection Cover

An engine is considered the heart of a vehicle. Thus, it may come as a surprise that car engines are usually not covered under regular car insurance policies. But if you buy an Engine Protection Cover, you can avail coverage for the repair or replacement of your car engine.

No Claim Bonus (NCB) Protection

NCB is a discount for customers with a claim-free policy term and is cumulative for up to 5 years resulting in a 50% renewal discount! The only catch is, if you raise a claim, you will lose all the accumulated NCB. However, if you buy an NCB Protection Cover, you can preserve the NCB despite raising a claim.

Return to Invoice Cover

If your car sustains damage beyond repair, you will usually be compensated with the Insured Declared Value/IDV (the current market value of the car). But, if you buy a Return to Invoice Cover, you will be able to recover the full price of the car as stated in its purchase invoice.

Personal Accident Cover for Passengers

Previously, we touched upon a Personal Accident Cover for you as a driver. However, that cover does not include the passengers in your car. But if you buy Personal Accident Cover for Passengers, you can claim up to 1 lakh per passenger if accidental disability or death occurs.

Comprehensive Car Insurance for a used/old car

Accidental damages can occur to any car. Hence, we recommend that you buy adequate car insurance irrespective of the age of your four-wheeler since it offers coverage for multiple risk scenarios like theft, fires, floods, riots, vandalism, etc. Also, Comprehensive Insurance forold cars is more cost-effective than for new ones. Because, the older your car is, the lesser the premium payable to insure it.

Who should buy Comprehensive Car Insurance?

If you fit one of the below-mentioned categories, we recommend that you should buy Comprehensive Car Insurance.

1. Owner of a new car:Buying Comprehensive Insurance for new cars is a great idea. After spending a lot to purchase a car, it only makes sense to financially safeguard it with a wide-ranging insurance policy.

2. Luxury car owner: If you own an expensive car, the cost of repairing it may be a lot. There is also a higher chance of vehicle theft as compared to regular cars. Hence, you should consider safeguarding your prized possession with Comprehensive Insurance.

3. Frequent traveller: If you love road trips or you need to travel extensively for work, you will be exposing yourself to more car-related risks. Thus, it makes sense to buy Comprehensive Insurance for your car and also invest in a Roadside Assistance Cover.

4. City dweller: In a metropolitan city, the road traffic is high. Hence, there is a higher risk of accidents. So, if you drive in the city often, make sure to financially secure your vehicle against different accident scenarios by buying a Comprehensive Policy.

5. Overprotective car lover: Anxious of losing your car to accidental damages? Then, Comprehensive Insurance is for you. It covers most damages and depending upon the insurer (such as ACKO) it can have a quick turnaround time. So, your four-wheeler will be repaired and returned to you in no time!

6. Under confident driver: If you are just learning to drive or are an under confident driver, the risk of accidents can be high. Hence, you should buy a Comprehensive Policy. That way, even if you are involved in an accident, you will be able to manage the consequent expenses.

What is NCB in Comprehensive Insurance?

No Claim Bonus (NCB) in Comprehensive Insurance is a discount on the premium awarded by insurance companies to customers who abstain from raising claims. You can avail of a maximum discount of 50% of the policy premium (own damage component) by completing five continuous claim-free years.

Here is a table that shows the year-wise NCB discount percentage as applicable under ACKO Comprehensive Car Insurance.

Claim-free year	NCB discount percentage
1st year	20%
2nd year	25%
3rd year	35%
4th year	45%
5th year	50%

Calculation of Comprehensive Car Insurance Premium

Insurers usually have a car insurance premium calculator tool on their website. You can make use of this tool by inputting your car and previous policy details (if applicable). Based on these details, the tool will generate a quote representing the applicable policy premium.

The premium payable for a policy is usually computed based on the following formula.

Premium payable= Fixed third-party insurance premium + (Own Damage component - NCB and other discounts (if applicable)) + Add-ons cost

Factors that contribute to Comprehensive Car Insurance Premium calculation

Here are the key factors that are considered while calculating Comprehensive Car Insurance Premium.

1. Make, model, variant of the car: Your car’s brand and model determines the premium charged.For example,luxury cars are more likely to incur higher repair and spare-part costs. Hence, insurers charge a higher premium for such vehicles as compared to regular four-wheelers.

2. Vehicle age: Due to depreciation, a car’s market value decreases as it ages. Hence, the IDV range you can select for it also reduces. As stated earlier, lower IDV translates to a lower premium. So, this is how a vehicle’s age is factored in during premium calculation.

3. Insured Declared Value (IDV): IDV is the present market value of a car that will be compensated in case of total loss or theft. While buying Comprehensive Insurance, you can select your prefered IDV from the available range. The higher the IDV, the higher the premium payable.

4. Fuel type: Fuel type refers to the type of combustion fuel used to run the engine of the four-wheeler. This is also taken into account while calculating the insurance premium. Cars that run on CNG are usually charged a higher premium.

5. No Claim Bonus (NCB): As mentioned previously, NCB is a percentage of discount on the policy premium granted for a claim-free policy year. You can accumulate a maximum discount of 50% of the policy premium after five uninterrupted claim-free years.

6. Special discounts: ACKO offers unique plans, tailor made to fit different requirements. We also offer special discounts on the policy premium if you buy or renew a policy during occasions and festivals.

Tips to reduce the premium payable for Comprehensive Car Insurance

Here are some tips to reduce your car policy premium.

Try to drive safely and not raise any claims during the policy term. That way, you can earn a No Claim Bonus and enjoy a renewal discount in the following policy cycle.

Add-ons are usually charged extra. So, choose only the relevant add-ons as per your needs while buying Comprehensive Insurance.

As mentioned earlier, the higher the IDV, the higher the premium payable. So, make sure to select a reasonable IDV while buying the policy.

Renew your policy on time. Because, if it lapses, you can lose the NCB and may have to pay extra to get your two-wheeler inspected during insurance renewal.

Avail discounts by installing an ARAI-approved anti-theft device and/or becoming a member of the Automobile Association of India (AAI).

Try to bear the expense for minor damages. That way your NCB will remain intact and you can enjoy its benefit in the following policy term.

Frequently asked questions

Here are some questions and answers to help you clear your doubts.

What does Comprehensive coverage mean?

In car insurance, Comprehensive coverage means that your four-wheeler is financially secured against own damages (theft, accidental damages and damages induced by manmade or natural calamities) and third-party liabilities.

Is it compulsory for car owners to have Comprehensive Insurance?

No, unlike a Third-party Car Policy, it is not compulsory for car owners to possess Comprehensive Insurance coverage. Nevertheless, it is valuable because it financially shields against different scenarios.

Is the best car insurance Comprehensive cover or Third-party Cover?

Comprehensive Car Insurance is the best among the two, as it offers more coverage than Third-party Insurance.

Are natural disasters like Tsunamis covered under a Comprehensive Car Policy?

Tsunamis and other such natural disasters can be covered under a Comprehensive Car Policy as per policy terms.

Is it possible to upgrade from a Third-party to a Comprehensive Insurance Policy?

Yes, it is possible to upgrade from a Third-party to a Comprehensive Insurance Policy during policy renewal. Alternatively, if you are already covered under a long-term Third-party Policy, you can buy an Own Damage (OD) Standalone Cover. That way, you will have the coverage of a four wheeler comprehensive policy.

Does Comprehensive Insurance cover accidental scratches to my car?

Yes, Comprehensive Insurance coverage includes accidental scratches to your car as per the terms and conditions of the policy.

Is Comprehensive Insurance full coverage?

Yes, Comprehensive Insurance (and its variants) offers the highest coverage you can buy for your car. Add-ons can also be purchased to further enhance coverage. For car insurance full coverage cost, you can head to our website and refer to the car insurance calculator tool.

How to choose an ideal Comprehensive Insurance Plan?

You can choose an ideal Comprehensive Insurance Plan by comparing policies online. Comparisons can be made based on criteria like coverage, number of network garages, claim process, Claim Settlement Ratio (CSR), etc.

Does having just Comprehensive Insurance mean that I need to buy the legally mandated third-party cover separately?

No, if you have a Comprehensive Policy, you do not need to buy a third-party cover separately. The reason is, a Comprehensive Policy includes the government-mandated third-party cover.

What is the Comprehensive Car Insurance price at ACKO?

The prices of our Comprehensive Car Insurance Plans differ from one car variant to another. You can visit our website and get a free quote by selecting a preferred plan and other coverages.

How long is a Comprehensive Car Insurance Policy valid?

The validity of Comprehensive Car Insurance is usually a year. However, if you opt for a long-term policy, coverage will extend based on the number of years you select at the time of purchase.