- Editor Rating
- Rated 4.5 stars
- Acko Car/Bike Insurance
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- Last modified:
[Last Updated: 31st March 2019]
Acko general insurance is one of the latest entrant in the Indian general insurance industry.
Founded in the year 2016, the company got the license to operate from IRDAI in September 2017 and started operations in December that year.
The USP of Acko is that it follows a ‘digital only’ business model.
That means it sells insurance policies and serves claims only through digital platform and has no agent/branch network.
It allows Acko to offer extremely competitive prices since it pays nothing towards agent commissions or in maintaining local offices in each city.
1. Key Offerings of Acko General Insurance
Currently, Acko offers insurance across the following 4 categories
- Comprehensive car insurance
- 3rd party car insurance
- Bike insurance
- Ola in-trip insurance
Check the detailed plans here.
2. Key Benefits of Acko Car & Bike Insurance
- Lower premiums compared to other general insurance companies
- Option of add on coverage (zero depreciation, NCB protection, engine protection etc.)
- 100% online claims
- Home pickup & drop (for car claims)
- Cash settlement for minor damages
3. How to make a claim with Acko?
This is where the company gets quite innovate (and bold too).
a. Insurance claim for a damaged car
When it comes to claiming a damage for your car, you need to call the Acko general insurance customer support number at 1860-2662-256 and your car will be picked from home, repaired within 3 days and dropped back.
If the damage is minor, Acko will make a settlement in your bank account and you can get the car repaired from anywhere you like.
b. Insurance claim for a damaged bike
In case of a damaged bike, the claim process is 100% digital.
All you need to do is upload a picture of the damaged bike on the Acko website, along with the policy details and Acko deposits the claim account directly to your bank account.
c. What’s covered as part of the car insurance?
- Damage due to accidents
- Damage resulting due to fire (self-ignition, explosion or lightning)
- Theft of the vehicle
- Loss due to natural calamities, both natural (like an earthquake) and manmade (like riots)
- Third party damages due to an accident
- Car owner cover
d. What’s not covered
- Any loss due to illegal driving is not covered (e.g. driving without a license, driving under the influence of alcohol, etc.)
- Nonaccidental damage due to normal wear and tear, breakdown and failures of the vehicle
- Damage to tires, tubes, and engine, unless damaged due to an accident
[Update: Recently, I interviewed one of Acko’s customers.
Read the detailed interview on Acko’s Claim Settlement Process]
4. Acko car and bike insurance customer reviews
There are not too many reviews of Acko insurance online.
I checked their annual report for year 2017-18 and it reports only one claim as of Mar 2018.
Next, I visited the Facebook page of Acko and I could find lot of customer reviews.
Here are few screenshots for you reference:-
Additionally, I have also tried to rate Acko across multiple parameters, purely based on Acko reviews available publicly on social media.
- Ease of buying the policy – 5 / 5
- Insurance pricing – 5/5
- Ease of making a claim – 4 / 5
- Claim settlement time – 4 / 5
- Quality of overall service – 4.5 / 5
There are occasional reviews where people faced a delay in claim settlement or their claim was rejected.
However, the sentiment for Acko insurance is largely positive.
6. My review and take
I have a bike which is 12 years old as of Dec 2018.
ICICI Lombard offered me a quote of INR 3000+ whereas the same bike insurance on Acko costed me INR. 1200. Definitely a lot of saving in terms of premium!
Ideally, when you buy an insurance, serviceability and claim settlement ratio should be your driving metrics and not just the premium.
But since I had an old bike which I don’t ride much and buying insurance was more from regulatory perspective, I decided to proceed with Acko.
Buying the policy via their website took me less than 5 minutes and was a breeze.
Here’s a step-by-step guide to get a FREE quote from Acko and buy the policy).
Overall, I would strongly suggest you to consider Acko once before you renew your car/bike insurance next time.
Are you already with Acko? Have you made a claim ever?
Do write about your experience below.