What is Car Insurance?

What is Car Insurance?

Car insurance, also referred to as motor or auto insurance, is an insurance policy that provides you financial protection if your vehicle suffers damages due to accidents, natural disasters, or thefts.

With a Comprehensive Car Insurance Policy, you will be financially secured in case of any losses to your vehicle due to an unfortunate event. Apart from that, a private car insurance policy also covers third-party liabilities and ensures that you comply with the law of the land.

Whether you are looking to buy a new car insurance policy to comply with the legal norms or looking for comprehensive coverage, ACKO has it all! We offer insurance policies, including private car insurance, third-party car insurance, comprehensive car insurance, and own-damage car insurance online at incredibly low premiums. At ACKO, you will also be able to enjoy a hassle-free car insurance renewal process. 

Key Features of ACKO’s Online Car Insurance

Buying an insurance policy for car with us is simple, easy, and convenient.. Being digital-first helps us seamlessly offer almost all of our services online. Additionally, you get the following key features when you buy online insurance from ACKO.

1. Incredibly Low Premiums

Thanks to our digital setup, our operational costs are low, and we sell four wheeler insurance directly to you without intermediary commissions. It allows us to keep the car insurance price low.

2. Zero Paperwork

With ACKO, there’s no need to spend time and effort filling out physical forms to insure your car or to renew your car policy. Nor do you have to submit a long list of documents. Everything’s online! Whether you are buying a new car insurance plan or renewing the existing plan, there is no paperwork needed.

3. Stress-free Claims

Gone are the days when you had to stress over raising a car insurance claim. With features such as free pickup and drop* and claim tracking, your claims experience with us is bound to be stress-free! (*as per terms and conditions).

4. Instant Claim Settlement

ACKO offers instant settlement for minor claims. Major claims may take more time but are settled swiftly as well. Both minor and major claims are settled per the applicable policy’s terms and conditions.

5. Total Convenience

Want to buy car insurance at midnight? You can! Renew the car policy on a Sunday; yes, you can! Raising a claim request on a public holiday; why not? With ACKO, you get total convenience for all things insurance! Buy car insurance online anytime, anywhere!

6. 24×7 Support

We know that accidents are unpredictable. Thus, you can avail of our 24×7 support, one way or another, as and when you require assistance with your car policy. We are just a call/click away!

7. Easy Insurance Renewal

You can easily go for car insurance renewal with Acko either on the mobile app or on the website. Just enter your car insurance policy number and proceed with the renewal process to get the policy renewed on time.

Different Types of Car Insurance Policies

ACKO provides different types of car insurance policies for your unique needs. Note that these policies, features, and add-ons are subject to availability. Please refer to the respective policy wording for more details and don’t forget to go for car insurance renewal online with ACKO

Third Party Car Insurance Policy

A Third-party Liability Four Wheeler Insurance Policy covers financial liabilities when you accidentally damage other people’s property or cause injuries/death of a third party. A third party insurance policy is mandatory as per law; however, it does not cover damages to your car.

Note: Third-party car insurance premium rates are revised per the IRDAI circular dated 25 May 2022.

Comprehensive Car Insurance Policy

The Comprehensive car insurance plan all the coverage benefits the Third Party Plan offers. In addition, this plan also covers damages to your car caused by accidents, calamities, fire, rat bites and theft of the insured vehicle. This plan also allows you to top for add-on covers to enhance the policy coverage.

Zero Depreciation Policy – Super Saver (Bumper-to-Bumper)

This car policy provides all the coverage benefits offered by the Comprehensive Plan. In addition, this plan also covers 100% of the cost of the car parts if a part needs to be replaced during repair. In other words, this plan will cover the depreciation cost incurred by car parts and will offer you the maximum claim amount.

Stand Alone Own Damage Cover Policy

Third-party Liability Car Policy proves to be inadequate when it comes to damage to your car from accidents, natural disasters, fire, or theft. Such coverages are provided under an Own Damage Insurance policy.

Third-Party Vs Comprehensive Car Insurance Policy

The following table highlights the key differences between comprehensive and third-party car insurance

What’s Covered Under Car Insurance Policy by ACKO

Here are the inclusions of the ACKO Comprehensive Car Insurance Policy. Please refer to the policy wordings for more information about the policy coverage. Also, do not forget to go for car insurance renewal to get continued coverage.

Third-Party Losses

If your car causes damages to third-party property/vehicle or life, such losses are covered by the ACKO Comprehensive Car Insurance Policy.

Accidents

Damages caused to your car due to accidents/collisions are covered under ACKO car insurance.

Fire

Damages caused to your car due to accidental fire, vandalism, self-ignition, etc, are covered by the Comprehensive Car Policy.

Theft

Car theft is common in India, and you could face a heavy financial loss if your car gets stolen. ACKO’s Comprehensive Car Policy includes this coverage.

Calamities

Damages from both natural and man-made calamities are covered under a Comprehensive Car Insurance Policy.

Rat Bite Damages

Damage to your car due to rat bites can lead to significant repairs. It is covered under our four wheeler insurance policy.

What’s Not Covered Under Car Insurance Policy by ACKO

Here are the exclusions of the ACKO Car Insurance Policy. Please refer to the policy wordings for an exhaustive list of exclusions.

Pre-Existing Damages

Any damage that your car has suffered before buying a policy from us will not be covered.

Normal Wear and Tear

The repair or replacement cost is not covered under the car insurance plan for those car parts that suffer damage over time due to regular use.

Mechanical and Electrical Damage

Any type of manufacturing defect in the car’s component will not be covered under our Comprehensive Car Insurance Policy.

Driving Without Valid Documents

Having the necessary documents while driving is important. Car damage, while not having such documents (active Driving Licence, vehicle RC, etc.), is not covered under the car insurance policy.

Illegal Driving

Driving your car in an illegal race, driving under the influence, or engaging in a crime is called illegal driving. The ACKO car insurance plan does not cover car damages caused during such instances.

Loss Outside Geographical Limits

Any damage to the car when driving outside the geographical limits of India is not covered under car insurance.

ACKO Car Insurance Add-on Covers

Add-ons offer additional coverage for your ACKO Comprehensive Car Insurance Policy. Following are the add-on covers you can buy from ACKO. Note that these add-ons are subject to availability. You can also include or remove add-ons when option for Acko car insurance renewal online.