Acko Two Wheeler Insurance Review 2024 – Claim, Renewal: It was established in 2016 and licensed by IRDAI in 2017. It goes behind an online marketplace and provides all services digitally. The company is a newcomer in the competitive bike insurance, car insurance and health insurance industry.
Instead of offering a multi-dimensional product, it has broadened its horizons in a more creative way. The retail products offered by Acko General Insurance include bike insurance, car insurance, in-trip home insurance and mobile insurance.
The company is working with a vision to buy and ease using insurance and is contributing well in car and bike insurance by providing attractive plans. Apart from offering bike insurance and several other products, the company has partnered with Ola Cabs and launched an in-trip insurance program.
This is a well thought out plan to provide relief to the people traveling in cabs and facing various uncertainties during the journey. It has also partnered with Amazon India to offer multiple mobile insurance plans on the retailers website.
Acko Two Wheeler Insurance – Acko Bike Insurance
Buying insurance for your two wheeler is a convenient and easy way to save yourself from the uncertainties involved in riding. In India, there are three main types of insurance that can be purchased; Third party insurance, standalone own-damage insurance and comprehensive plans.
Acko General Insurance offers all three. As per the Motor Vehicles Act 1988 it is mandatory to purchase third party insurance for every two wheeler in India. If caught without this insurance, you can be fined up to Rs 2,000 and/or jailed for up to 3 months. Handles covered third party liabilities in case of accident including bodily injury, death and property damage
Acko Bike Insurance Key Features
| Features | Coverage |
| Third Party Insurance Property Damage | Up to Rs 1 Lakh |
| Own Damage Cover | Dependent on the IDV of the Two-Wheeler |
| Personal Accident Cover | Up to Rs 15 Lakh |
| Assistance for Claim Procedure | Available 24×7 – Website |
Acko Two Wheeler Insurance Review
It is also advisable to buy a standalone own-damage cover. This type of cover is not mandatory, but will protect your two wheeler from a variety of situations in the event of an accident. This includes theft, vandalism, road accidents and natural calamities. Finally, as the name suggests,
You can buy add-on covers to further enhance the coverage of your two wheeler insurance. These are optional covers that allow you to pick and choose the cover to make a policy that best suits your needs. Be sure to research add-ons, the right people can make a significant difference when it comes to claim settlement.
Acko Bike Insurance Benefits
- A strong network of 2,000+ garages
- Emergency assistance available round the clock
- Availability of digital insurance process
- Instant Online Insurance Renewal Process
- Allow your customers to make unlimited claims.
Not Coverd in ACKO’s bike insurance policy
- Any claim if you do not own a vehicle or you are not using the vehicle for any illegal purpose.
- Claims relating to damages caused outside the geographical boundaries of the country.
- Any claim related to tire or tube puncture (if your two wheeler gets damaged at the same time then you get 50% of the repair/replacement cost).
ACKO Bike Insurance Policy Renewal
To renew ACKO bike insurance policy, you need to follow these steps:
- Select your bike details such as bike brand name, year of purchase and any existing policy that is active or expired.
- Choose the plan that best suits your budget and requirement.
- Pay the premium for the plan online through ACKO’s website or download its mobile app.
Documents Required to Buy or Renew ACKO Bike Insurance Policy
The documents required to buy a bike insurance policy online include:
- Bike Models and Variants
- bike purchase date
- bike location
- Existing policy details (if you are renewing with a new insurer)
- Policyholder ID and Address Proof
To renew your bike insurance, you will need the following documents:
- Proof of Identity (Passport/Ration Card/Driving License/Aadhar Card or your Voter ID Card)
- Address Proof (Voter ID, Passport and Aadhar Card are all applicable)
- Bike Registration Certificate (RC)
- Recent passport size photo.
- Old policy number, if required.
In case of transferring your bike insurance policy from one insurance company to another, you will need to:
- proof of identity
- proof of address
- bike rc
- Previous (Existing) Insurance Policy Document Copy
- Recent passport size photograph
ACKO Bike Insurance Claim
You can make a claim by visiting the ACKO website or by calling the company’s customer service. The policyholder is expected to provide the following details at the time of making a claim:
- First Information Report (FIR)
- Photos of the accident site and damage to the vehicles involved
- vehicle registration certificate
- driving license
- Soft copy of policy document (if applicable)
In case of accident where you have suffered loss, follow this procedure:
- File an FIR in the local police station.
- Share your bike insurance policy details with the third party concerned.
- Notify ACKO immediately about the accident.
- ACKO will transfer the issue to the Motor Accident Claims Tribunal.
- If you receive a legal notice from the Tribunal, notify ACKO.
- The Tribunal decides the amount to be paid as compensation.
Read Also – Acto Car Insurance Review
ACKO has collaborated with Bajaj Finance for various car and bike insurance policies.
To make vehicle insurance policies accessible and affordable, ACKO, one of the leading insurance companies has partnered with Bajaj Finance for various car and bike insurance policies. The objective of this partnership is to reduce the time taken to purchase a motor insurance policy with an online and transparent process. Read the following information to know more about the features and types of ACKO car insurance and two wheeler insurance policies.
Types of Motor Insurance Policies Offered by ACKO
1.Third-Party Insurance
Third-party two wheeler or four wheeler insurance policy by ACKO provides coverage for loss or damage caused to third-party property or persons. As per the Motor Vehicle Acts of India, it is necessary to have a third-party insurance policy for vehicles to be legally driven on the road.
2.Comprehensive Insurance
Comprehensive ACKO Motor Insurance covers third-party liability, personal accident and damage to your car or bike. It also provides adequate coverage for damages caused to your vehicle due to natural calamities, theft, fire etc. You can also opt for a ‘bumper to bumper’ policy for your car. It can be taken as an add-on cover. In this policy the entire claim amount is paid irrespective of the depreciation of the car parts.
3. Personal Accident Cover for Holder/Driver
This policy provides financial coverage up to Rs.15 lakh in case of disability, injury or death of the vehicle holder/driver by accident. Car and Bike Insurance Policy Features Availing a vehicle insurance policy from ACKO General Insurance will ensure that the policyholders are financially protected from a number of accidents that can damage their vehicle.
In addition, they can avail cost-effective premiums and add-ons, claim support, zero paperwork, etc. Apart from providing adequate financial coverage, these policies also come with some additional features: High Claim Payout Ratio No Claim Bonus Cashless Claims Third-Party Liabilities Pick-up and Drop Facility Offered in Select Cities Hassle Free and Speedy Processing Multiple Networks In addition, there are additional insurance covers for two and four wheelers.
However, one can buy these add-on services only with a comprehensive insurance policy and not with third party policies.
Following are the list of popular add-on services offered by ACKO General Insurance:
Engine Protection Cover Zero Depreciation Cover Consumables Cover Out Station Emergency Cover Replacement Cover for Key Return to Invoice Cover Emergency Assistance on Road Personal Accident Cover for Passengers Why Buy ACKO Insurance Policy from Bajaj Finance Limited? When it comes to staying financially secure against damages caused to your or any third party vehicle, there is no better way than by purchasing an ACKO insurance plan.
Also, post their partnership with Bajaj Finance, customers can enjoy a seamless application process.
To financially protect two wheelers or four wheelers from damages due to unforeseen accidents or incidents, individuals can opt for a specially curated motor insurance plan by ACKO at an affordable premium.
Why choose ACKO General Insurance to protect your vehicle? Affordable Premium With ACKO, policyholders can easily pay their premiums without any third party intervention. This is why premiums are affordable. No-Claim Bonus With ACKO’s insurance policies, customers can avail additional savings along with a no-claim bonus.
If the insurer does not claim any damages during the policy year, the insurance provider offers a bonus that provides a discount on subsequent year’s premiums. Hassle Free Claim Settlement To claim for any loss, policyholders need to visit ACKO’s website or mobile app and select the ‘Claim Now’ option for registration.
Digital Process Another primary reason to choose ACKO Auto Insurance is the convenience of an online process. Now one can buy this policy and renew his/her policy through the official website of the insurance provider and BFL Insurance Marketplace.
All they have to do is visit the official website of BFL or simply download the Bajaj Finserv app, click on ‘Insurance’ on the home screen to purchase the policy.
How to buy a policy?
This policy can be purchased in three easy steps:
- Step 1: Visit the website of Bajaj Finance and navigate to ACKO Car or Bike Insurance Plan
- Step 2: Click on ‘Buy Now’ to access the application form
- Step 3: Fill that form with relevant details and make the payment to complete the policy purchase.
You can also opt for call back option from the representatives of the company. With a digital approach and a transparent process, ACKO Insurance aims to transform how insurance is purchased.
Additionally, with Bajaj Finance Limited, proposers can buy various comprehensive motor insurance policies and secure their financial interests against any mishaps involving their vehicles.
Acto Two Wheeler Insurance Review on Forbes – 3.5
Acto Two Wheeler Insurance Review on Insurancedekho – 4.8 / 273 reviews
FAQ’s on Acko Two Wheeler Insurance
What are the plans offered under Acko Two-Wheeler Insurance Policy?
Acko offers Third Party Liability, Comprehensive Insurance Policy and Standalone Own Damage Policy under two-wheeler insurance plans. Third party plan provides cover damages done by third parties, comprehensive plan provides coverage for both third party damages and damages caused by the two wheeler of the insured whereas a standalone own damage policy provides coverage for those caused by the two wheeler of the insured Covers all damages.
What are the factors that determine the price of my two wheeler insurance policy?
The premium amount that the policyholder has to pay becomes the cost of the insurance policy. There are several factors that determine premium such as: IDV of the bike. coverage limit. bike age. Add-on cover. claim history, etc.
Does Acko bike insurance provide add-on cover?
Yes, there are many add-on covers provided by Eco Bike Insurance such as Zero Depreciation, Passenger Cover, NCB Protect and Return to Invoice. Customers can get this on getting a comprehensive bike insurance policy.