Acko Two Wheeler Insurance

Acko is one of the newest and trendiest motor insurance companies in India. It was founded in 2016, got licensed by IRDAI in 2017 and is credited as being the first Indian digital insurer. The company is growing at a very healthy rate and currently has over 50 million clients. Acko General has many unique products, including very impressive two-wheeler insurance plans. With investments totalling around US$450 million, Acko counts high-profile backers like Amazon, General Atlantic, Lightspeed, and co-founder Binny Bansal. It boasts a CSR of 98.40% (FY 23-24) in its own damage bike insurance claim settlements, which is a significant achievement. Acko has partnered with Ola to offer in-trip insurance for cab riders, protecting against travel uncertainties. It also collaborates with Amazon India to offer mobile insurance plans directly on the retailer’s platform.

The Acko Insurance bike covers are available in three varieties. They are the Third-Party Bike Insurance Plan, the Comprehensive Bike Insurance Plan and the Standalone Own Damage Bike Insurance Plan. Each plan offers some excellent features that make it easy and safe for you to insure your bike.

The third-party bike insurance cover from Acko is very well-rounded and offers some very handy covers. A third-party bike insurance policy covers any damages or liabilities that have arisen from an accident caused by a policyholder's bike towards a third party (individual or property).

Key Features

• Acko bike insurance online is very affordable. The third-party covers are available at premiums as low as ₹457.
• You get unlimited coverage for bodily injury to a third party.
• You get a coverage amount of up to ₹1 lakh for damages to a third party property.
• The Acko bike insurance renewal process, along with the process of buying the plan, is completely digital.
• The claim process is quick, convenient and can be done online.

The Comprehensive Bike Insurance plan from Acko Bike Insurance offers a well-rounded two-wheeler insurance protection. As the name suggests, you get a comprehensive list of covers when you choose this bike insurance Acko coverage.

Key Features

• You get a third party cover, as well as your own damage cover when you opt for the comprehensive Acko bike insurance.
• You get a personal accident cover of up to INR 15 lakhs.
• Instant claim settlements. If you apply for a minor claim, it will be settled in as few as two hours. The process to settle a claim is quick, easy and stress-free. You can complete the entire process online.
• You can buy or renew bike insurance Acko online in just a few minutes with minimal paperwork.

Standalone own damage bike insurance from Acko allows the policyholder to safeguard their bike only. But, this type of insurance is only available if you have third-party bike insurance, as it does not cover the legally mandatory third-party liability cover.

Key Features

• Standalone own-damage bike insurance is cost-effective
• Often bundled with third-party bike insurance for legal compliance
• You can customise OD bike insurance with add-ons and set IDV as you wish through Acko.
• The company has a healthy and highly impressive claim settlement ratio of 98.40% for FY23-24.

The Personal Accident (PA) Cover is a compulsory form of coverage that every two-wheeler owner must have. This cover is included in the comprehensive plans, but if you have a third party Acko bike insurance plan, you will need to purchase this cover additionally.

Key Features

• This is a life insurance cover. If you die in an accident that happens while riding your bike, your family will receive a predetermined sum assured. In the case of death, the entire sum assured will be paid out to your beneficiaries.
• If you get temporarily disabled following a bike accident, you will receive a percentage of the sum assured.
• If you are left totally disabled following a bike accident, you will receive the entire sum assured.
• PA Cover is for up to ₹15 lakh.

Here are the key features of Acko Two-wheeler Insurance:

• The Acko insurance bike covers are very economical. Since all the plans are directly sold online, you do not need to hassle around with paperwork.
• Whether you wish to buy a new bike insurance policy or you want to go for an Acko bike insurance renewal, the process can be done online in just a few minutes. You can comfortably sit at home and do so whenever you wish as the facility is available 24/7.
• When you go over the Acko bike insurance reviews, you find that the users often speak about the smooth claim process. The claim process is one of the simplest among all the insurance providers. Everything from filing the claim to receiving the amount is quick and easy and completely stress-free.
• Additional savings and discounts are available when you buy the long-term Acko insurance bike covers.
• All the deals are completely lucid and transparent. There are no hidden clauses or fees associated with any bike insurance plan.

In a comprehensive bike insurance policy by Acko, following things will be covered:

• Third-party Liability
• Own-Damage Cover
• Personal Accident Cover
• Damages caused by Natural Disasters
• Damages caused by Man-Made Hazards
• Vehicle Theft or Total Loss

In a comprehensive bike insurance policy by Acko, following things will not be covered:

• Any claim made for an accident caused due to drunk driving.
• Any claim made on a lapsed bike insurance plan.
• Any damages to the bike due to a war-like situation.
• Any repair that is done due to the regular wear and tear of the parts.
• Any damage sustained because of an unlicensed rider.
• Any damage sustained when the bike was used for any illegal purpose.

• Log on to the portal of Coverfox. You could also use the Coverfox mobile app.
• Click on the category of bike insurance that you wish to buy.
• Provide some basic details about yourself such as your name, address, age etc. Also provide details about your bike such as the make and model number, the existing insurance policy details, etc.
• Click on Acko bike Insurance from the list of insurance providers.
• While doing so, don't forget to scan through the other plans and compare.
• Choose the cover and pay the premium online.
• The Acko bike insurance plan will be issued and sent to you immediately.

Coverfox is a one-stop solution for all your insurance needs. From calculating the premium to getting information about the various insurance products to actually finding the best quotes, you can do it all on Coverfox. The portal is very modern and user-friendly, making it extremely simple for you to find and buy the best bike insurance cover for your two-wheeler. You can also read the Acko bike insurance reviews and then make an unbiased decision.

The claim process for Acko Bike Insurance can be divided into different types:

• Third-party Insurance

  • The third party involved in the bike accident files an FIR with the local police station.
  • Then, the case is registered in a special court, the Motor Accident Claims Tribunal. The Motor Accident Claims Tribunal assesses the case and decides upon the compensation amount.
  • Acko Insurance directly compensates the third party on behalf of the policyholder.

• Comprehensive Insurance

  • Cashless claim

    For this, you need to take the vehicle to a network garage and get it repaired. Inform your insurance provider. Acko will communicate with the garage, get the inspection done, get approval for the same then settle the bill directly with the network garage. You just have to pay the deductible amount or any other non-admissible charges.

  • Reimbursement claim

    If you take your bike to a non-network garage, you have to settle the bill on your own. Then, you need to fill in the claim application form and submit it, along with the original bills, memos, etc.

    Acko will calculate the final amount, and after subtracting the deductible amount, send the money across to your bank account.

• Personal Accident Claim

  File an FIR at the nearest police station as soon as possible, after the accident takes place.

  Inform Acko in detail about the accident and the extent of the loss suffered (death/total or partial disability).

  Wait for Acko to evaluate the claim and get back to you.