Acko Insurance Review| North Loop Official Blog
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28 Sep 2020

Acko Insurance Review

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About Acko –

Acko General Insurance is a digital private sector general insurance company based in India. It has an online-based model wherein all its operations get offered through its digital platform. Founded in November 2016, it has partnered with several companies such as Ola, Amazon India, HDB Financial Services and Amazon Pay to provide mobile insurance plan, auto insurance policies etc.

Benefits under the Acko bike insurance plan –

Two-wheelers are an essential part of commuting for many Indian families as they offer an extremely economical way of transport. However, along with providing several benefits, two-wheelers also come with a lot of risks – primarily from mishaps and accidental damages.

The Acko insurance plan takes care of the financial losses associated with such tragedies by providing a bike insurance policy with comprehensive coverage and affordable insurance rates. Any loss or damage to your bike due to natural or man-made calamities get covered in its insurance plan. You can also opt for an online bike insurance policy with North Loop. It is 100% digital and offers low premium policies.

Get a zero-balance, no-fee NRE/NRO account with North Loop in 5 minutes

Features of Acko Insurance Plan –

The coverage period for bike insurance is for one year. However, shorter duration covers are also available under its bike insurance plan.

It offers an online portal for a variety of services such as – online purchase or renewal of its plans, migration for two-wheeler insurance plans etc.

It also offers free benefits of emergency service without charging any additional premium.

On payment of additional premium, a depreciation cover gets offered with the plan to cover the full value of parts in the claim of partial damages to the bike.

The plan includes protection cover for any loss to personal belongings on payment of an additional premium ofRs.400 or Rs.650 (depending on the policy).

It provides insurance cover for any legal obligation to a third party in the event of any injury/death or property damage caused due to the insured bike.

It is certified and licensed by the IRDAI and offers low-premium bike insurance policies.

Types of Bike Insurance Policies offered by Acko –

Comprehensive Two-Wheeler Insurance – This type of two-wheeler insurance is not mandatory but recommended for bikes. The comprehensive two-wheeler insurance plan can protect you from legal liabilities to third parties in an accident and also offer extensive coverage to both you and your insured bike. The damages covered include collisions, theft, natural calamities, and even fire.

Third-party liability insurance – This type of bike insurance plan covers only third party liability arising due to collisions. The premiums in this type of insurance plan are more economical as compared to the comprehensive one. Read about other types of insurance policies here.

How to get Bike Insurance Online –

Acko provides an online portal which makes it easy to get a quote for two-wheeler insurance online. Here are the steps you can take to buy bike insurance online –

Visit the website.
Select the option you are interested in – buy/renew two-wheeler insurance online.
Fill all the required information such as your name, email ID, phone number, and the details of your bike (such as model, engine number, fuel type, city of registration, engine capacity, year of manufacture etc.).
Use the two-wheeler insurance online calculator to determine your premium.
Set your IDV and choose the tenure of the insurance plan to calculate the final premium rate.

Things to remember for bike insurance renewal –

Renew before expiry – It is always advisable to renew your bike insurance policy before the expiry of your current policy. That is because, as the policy lapses, you may lose all the benefits of an active insurance policy.

Review your coverage – You can review the coverage when renewing your bike insurance policy. You can either opt for a higher one or lower coverage, based on your requirements.

Correct discrepancies – The best time to correct any discrepancies is while renewing your bike insurance policy. If any of your details such as address etc. is incorrect or needs to be changed, you can do it while applying for renewal of the policy.

Conclusion -

While Acko provides an online portal to apply for a bike insurance policy, there are other digital platforms like North Loop that offer two-wheeler insurance plans at lower insurance premiums and in a shorter time. With North Loop, you can enjoy a paperless transaction, low premium amount, cashless claims, instant renewal process and a user-friendly mobile app to access your claim details from anywhere.

To sign up with North Loop, click here.

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This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended be advice. You must obtain professional advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from North Loop or its affiliates. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. All opinions expressed do not reflect the views of North Loop nor are endorsed by North Loop.