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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.

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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.

6 Factors that affect your car insurance cost

FACTOR # 1

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.

ICONIDV 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.