Acko is one of the latest entrants in the motor insurance segment and is India’s first fully digital insurer.
That means, everything right from sales to service to claims to payout happens digitally over the internet.
This results in zero involvement of middlemen/agents and quicker turn around time.
And the resulting benefits are passed on to the customer in the form of lower premium rates.
The rates are considerably lower as compared to other general insurance companies and you may get a great deal.
[You can read my earlier post where I saved more than 50% on premium on my bike insurance.]
Let me take you through a step by step procedure on how to get a FREE quote from Acko for your vehicle, all in less than 2 minutes.
Step 1: Enter your vehicle number
Head over to Acko’s website and enter the vehicle number.
Acko will pick up the vehicle make by itself.
In case it doesn’t, it will ask you to select the vehicle make and model.
Step 2: Enter your mobile number
Enter your mobile number to proceed.
Expect to get a call back from their customer support in case you don’t buy the insurance.
However, good thing is that if you tell them that you were just checking the quote and don’t have plans to buy right now, they would never call you back again.
I have personally experienced this which is a great relief, unlike other general insurance companies which keep on calling you at odd hours.
Step 3: Select the usage
Select whether your vehicle is a private vehicle or a commercial one.
Step 4: Enter your pin code
Step 5: Select if you have a running policy
Step 6: Chose the IDV
Once you have keyed in the important details, you would be shown the IDV of the car and the related premium.
You can change the IDV (within the range) and see an instant quote.
If you wish to buy the policy, you can buy it right from this screen and the policy document will land in your email within 1 minute.
In case you have queries around the policy or the process, there is a ‘HELP’ button.
Click on that and you will get an option to receive an instant callback from Acko.
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
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
As I said earlier, do get a free quote from Acko if you are planning to buy a car/bike insurance in the near future.
The rates are quite competitive.
In my example mentioned above, I checked the rate for the same vehicle with ICICI Lombard and the premium was around 7,000 (including GST). That’s a difference of almost Rs. 900 when compared with Acko.