Vehicle/Motor Insurance

Vehicle Insurance refers to insuring your vehicle against unfortunate and unpredictable incidents. Vehicle insurance is also called motor insurance or auto insurance in the insurance industry. 

You can buy motor vehicle insurance online and offline from companies authorised by the Insurance Regulatory and Development Authority of India (IRDAI). As per The Motor Vehicles Act, both private and commercial vehicle owners are mandatorily required to insure their vehicles. Not following this rule can lead to monetary penalties and legal issues.

You can buy or renew vehicle insurance online, which is an easier and quicker way to insure your vehicle. Just visit the insurer’s website (for example, www.acko.com), provide a few details, select your policy and make the payment online. You will get your vehicle policy in your inbox in 2 minutes.

Insuring a vehicle with a basic Third-party insurance plan is a legal requirement. Not following the law of the land can lead to serious consequences such as monetary penalty and/or imprisonment.

Repairing a damaged vehicle can prove costly if the entire amount is paid from your pocket. Having a Comprehensive cover helps to enhance coverage and lends financial assistance to pay the repair bill for the damaged vehicle.

New-age insurers like ACKO offer value-added services such as pick up and drop facility where they pick up the damaged vehicle, repair it at a garage and drop off the car at your doorstep. Please note that this facility is available in select cities.

Visit www.acko.com or download the mobile app to buy a vehicle insurance policy online.

Enter your vehicle (car/bike) details, choose the coverage, and select the suitable add-ons.

Once you enter the details, you can view premium amount for the most suitable coverage for your vehicle.

Riding/driving with an expired vehicle insurance policy.

Riding/driving in an intoxicated state.

Own damage is excluded in case of a Third-party policy.

Not following driving/traffic rules such as riding/driving with an invalid driving license.

Claiming against an incident that is beyond the policy’s scope of cover.

Accidental damages during war or similar conditions

Cost of repair/replacement of parts that are damaged due to regular wear and tear.

Any claims related to personal items stolen from your car

With this add-on, ACKO will not consider the depreciation charges while settling the claim. As a result, your after-claim pay-out will be more than what it would have been if you didn’t have this cover.

Stranded on the road? Simply call us and our professional vehicle mechanic will rush to your location to help you out with the vehicle’s issues including towing services during car breakdowns.

Usually, you have to pay the cost of consumables while repairing the vehicle. ACKO does not cover costs such as usage of oil, nuts and bolts, etc. With this add-on, such costs shall be covered.

With the Engine Protection Add-on, you can insure your car’s engine against most of the damages such as floods that are not covered in a Comprehensive Plan.

Car keys aren’t cheap and the cost can go upwards of Rs. 10,000.  With Key Replacement Cover, you can save your money on expenses incurred for replacing a lost, stolen, or damaged key and even a replaced lock, if required. 

Outstation Emergency Cover secures you against accidents/breakdowns outside a 100 kilometers radius of your residence during the policy period.

When you don't raise a claim during the previous policy period, ACKO rewards you in form of an NCB discount on the premium amount during renewal. This discount can go up to 50% if you don't raise a claim for five consecutive years.

In case your car is stolen or damaged beyond repair, Return to Invoice add-on cover will help you recover the amount mentioned on the car's invoice value, including the car registration cost and road tax as well.

Along with a Third-party vehicle insurance plan, it is compulsory to own a Personal Accident Cover in India. This additional cover provides financial protection in the event of permanent disability/death while driving or riding your vehicle.

While riding, helmets are critical to circumvent injuries to your brain. With this add-on cover, ACKO will cover the repair/replacement cost in case your helmet is stolen or damaged in an accident, fire, man-made or natural calamities.

When you buy this add-on cover along with your Comprehensive car insurance policy, you can secure your near and dear ones in case of permanent disability/death while driving a car. With this add-on cover, you get access to coverage of up to Rs. 1 lakh per passenger.

If you have purchased your previous policy on ACKO, you can modify your policy by logging into your account. If you have purchased from a different insurer and want to renew on ACKO, visit our website or download the mobile app.

While renewing your vehicle insurance policy on ACKO, you will have to share and verify details related to your vehicle, previous policy, etc. Select the right plan and add-ons that suits your requirement.

Once you have selected the right insurance policy for your car/bike, make an online payment. Once you pay the premium amount, you will receive the policy document in your inbox.

When you buy motor insurance online from ACKO, you buy it directly from us. There are no middlemen or agents; hence, there are no commissions to agents. We pass these savings on to you through low-cost motor insurance.

We provide paperless motor insurance claims. We offer a pickup and drop facility for cars in select cities. As per this service, we repair the damaged vehicle and deliver it back to you within 3 days working days. You also get instant claim settlement for minor damages (broken mirror, dent on the fuel tank, etc.) for bikes and cars.

Apart from tailor-made vehicle insurance plans, ACKO also provides discounts during festivals and special occasions. Through deals, you get to enjoy low-cost motor insurance plans for your vehicle.

Details related to the vehicle such as age, engine specifications, etc.

Details about the PIN code of your locality.

Details related to previous claims associated with the vehicle.

The extent of the policy cover including the add-ons, if any.

The higher the Insured Declared Value (IDV), the higher the premium amount.

The higher the amount of the deductibles, the lower the premium amount.

Installation of anti-theft devices will also have an impact on the premium amount.

No Claim Bonus percentage at the time of vehicle insurance policy renewal impacts the final payable premium.

New-age digital insurers like ACKO eliminate the need for middlemen, which reduces operating costs. This in turn results in a lower premium amount.

Analyse if you need third-party liability coverage or comprehensive coverage for your vehicle. It is recommended that you opt for Comprehensive insurance for broader coverage.

Add-ons are additional insurance to the Comprehensive insurance. It enhances the policy with specific coverage for your vehicle. For broader coverage, you can choose from Zero Depreciation cover, Return to Invoice cover, Roadside Assistance cover, etc. But, we recommend that you select appropriate add-ons that add value to your coverage.

Ensure you opt for the mandatory PA cover while buying or renewing the policy. It covers you in case of personal accidents.

Opt for a digital insurer such as ACKO for a hassle-free claim procedure. Our digital infrastructure lets you raise claims through our website or mobile app. Or, you can call us to register your claim. Minor claims are usually settled within a couple of hours, while major claims are settled in a few days.

You must consider the insurer’s network garages so that you have access to them across the country and where you reside.

Your vehicle depreciates as soon as it comes out of the showroom. Hence, claim settlements are processed after considering the depreciation. Opting for the Zero Depreciation or Bumper-to-Bumper add-on negates the depreciation factor during claim settlements.

The cost of the motor insurance policy is based on the approximate market value of the vehicle. The value of the bike stated in the policy is the IDV. So, in case of a total loss or when the damages are beyond repair, you receive the IDV after deducting depreciation and applicable deductibles. Ensure you choose the right IDV for your vehicle for the right compensation.

Ensure you understand the inclusions and exclusions of your motor insurance policy. Knowing the terms and conditions of the policy helps you avoid unwanted surprises during claim settlements.

Check how the premium is calculated and what factors impact the cost of the insurance plan. Clear any doubts before you buy the plan.