Acko Bike/Two Wheeler Insurance

In India, Acko General Insurance is a private general insurance firm. The firm was established in November 2016 and received an IRDA license in September 2017. Acko operates on an online-first approach in the insurance industry. It means that all of the company’s activities are conducted through a digital platform. The company provides multiple insurances such as health insurance travel Insurance Two Wheeler Insurance, and car insurance The company’s wide selection of products allows it to serve a larger number of individuals across the country.  

Initially, Acko General Insurance Company had just 6 members. But now the company has expanded to over 400 employees. ACKO Insurance offers superior service when it comes to insurance purchases and claims. With a claim settlement rate of 95%, the firm has a strong reputation. The settlement of claims in Acko is straightforward and quick. 

What is Two Wheeler/Bike insurance? 

Bike insurance is a contract between the bike owner and the insurance company. In this contract, the insurance company compensates the bike owner in the event of damage. It also reduces the danger of natural disasters, third-party obligations, and personal accidents. Two-wheelers are the most convenient means of transportation in India.  To mitigate the danger that comes with being on the road, two-wheeler insurance is essential. 

There are several types of insurance companies available in the market. But here we will tell you about an online insurance company, Acko Insurance. Acko Insurance company offers various types of insurance, including motor insurance. Here, we will focus on Two-wheelers insurance. Let us first tell you about the Acko Insurance Company. 

Acko Bike/Two-Wheeler Insurance

The firm offers a variety of insurance policies, including third-party insurance and comprehensive insurance. These plans cover your financial obligations to a third person in the event of their injuries, death, or property damage. In addition, your motor insurance policy will cover any loss or damage to your vehicle.  

Man-made crises such as thefts, riots, accidents, and so on, as well as natural disasters such as lightning, cyclones, and floods, may all result in financial loss. In India, it is required to get two-wheeler insurance to keep two-wheeler owners safe from harm. You will receive legal protection as well as prevent financial stress if you purchase two-wheeler insurance. 

List of best Acko Bike/Two Wheeler Insurance

Acko Insurance offers broadly two types of Two-Wheeler insurance. You can pick any one insurance according to your needs. The following are the types of insurance that are provided by Acko Insurance Company- 

Third-party two-wheeler insurance- 

This is the most basic sort of insurance, and it is required for all vehicles. In the event of an accident, third-party bike insurance pays for the damages caused to a third party. The third party in this case might be either property or a person. Third-party bike insurance protects you from any liabilities you may incur due to damaging someone else’s property or vehicle.  

It also covers your responsibilities if you cause an accident that results in injury to a third party, including death. This coverage does not cover loss, damage, or theft of the insured two-wheeler.  

Benefits of Third-Party Bike/Two-wheeler Insurance- 

  • Compensation is provided for any personal injury suffered by the owner of a third-party vehicle. 

  • Third-party insurance is less expensive and comes with a reduced premium rate. 

  • It is relatively easier to get and requires less documentation. 

Comprehensive two-wheeler insurance

The most recommended insurance kind for two-wheelers is comprehensive insurance. This is comprehensive insurance coverage that covers both your vehicle and a third-party vehicle. It safeguards your bike from a variety of threats, including fire, natural calamities, theft, accidents, and man-made disasters.  

The policy covers both the rider and the pillion passengers for bodily injury. However, comprehensive two-wheeler insurance does not cover depreciation, mechanical failure, unlawful practices, drug-related accidents, or other non-compensable events.  

Benefits of Comprehensive Two-Wheeler Insurance Policy- 

  • Discounts and add-on covers are available. 

  • Damage to your car as well as third-party vehicles is covered. 

  • Complete insurance coverage will cover medical bills and compensation for any temporary or permanent disability. 

Acko Two Wheeler Insurance Reviews

ACKO Two-Wheeler insurance is one of the top insurance companies in India. They provide amazing services and offers to their customers. You can get a seamless consumer experience with ACKO’s insurance policy. When you acquire or renew bike insurance with ACKO, you’ll get a quick, transparent, excellent, and incredibly easy claims procedure. The whole procedure of purchasing and renewing two-wheeler insurance has been digitized by ACKO. You can simply get a cashless claim, however, reimbursement claims may take some time to process. 

Acko Two Wheeler Insurance Customer Care Numbers / Contact details

Do you want to get more information about ACKO’s Two Wheeler insurance policy? Then, contact – 

Email – [email protected] 

Call – 1800 266 2256 

Features of Acko Two Wheeler Insurance 

The following are some benefits of Acko Two-Wheeler Insurance- 

  • The premium for motorcycle insurance coverage begins at Rs.482. The ACKO offers reasonable rates based on your requirements. 

  • The insurance is available for purchase online. You may now obtain insurance coverage at any time and from any location. The digital platform simplifies the process of purchasing insurance. 
  • It is possible to complete the renewal process entirely online. Your insurance can be renewed at any time. 

  • The CSR (Claims Settlement Ratio) stands at 95%. (Financial Year 2020-2021). You don’t have to wait months for your claim to be processed. The firm believes in resolving claims as quickly as possible. 

  • Own Damage Cover is included with a Comprehensive Bike Insurance Plan. You can also acquire extra coverage for your insurance.

  • More than 600 financial touchpoints in more than 500 locations are part of the company’s extensive network. 

  • You may pay quickly and conveniently using a variety of payment methods. Online payment will help you in saving time and effort. 
  • You may save more money with Acko insurance’s multi-year bike insurance coverage. Save even more money by taking advantage of additional discounts and deals. 

Benefits of Acko Two Wheeler Insurance- 

You may benefit from Acko insurance in a variety of ways. From cashless transactions to easy claims, ACKO insurance is one of the best service providers. The following are some of the primary advantages of ACKO’s two-wheeler insurance policy- 

  • Hassle-Free claims

It is really simple and quick to file a claim for compensation for your losses. You can make a cashless claim. ACKO’s specialized claims staff guarantees that you have a smooth claim process and don’t suffer any inconvenience during a crisis. 

  • Emergency assistance

The Acko Two Wheeler Insurance policies are highly useful and valuable for consumers. Since they provide 24/7 emergency support, including roadside assistance. 

  • Premium at a Reasonable Price 

ACKO Bike Insurance offers exceptionally affordable prices. The plans are customized to your specific needs and budget. The organization’s clients need to pay a smaller premium because they are using the direct-to-consumer strategy. 

  • Efforts to Reduce Paperwork

From purchase to claim, and from renewal to customer service, the organization offers digital insurance operations. Customers may access all of the firm’s services online with only a few mouse clicks thanks to the firm’s online system. 

  • Easy and quick-to-use

Buying or renewing your bike insurance coverage is a quick and painless process thanks to 100% digital transactions. You may purchase your coverage whenever it is convenient for you, using a fully digital approach. 

  • Other benefits

Some other benefits that you can enjoy with Acko insurance company are- 

  • Discounts and offers 
  • One-stop solution 
  • Easily accessible 
  • Trustworthy company 
  • Instant Policy Issuance 

Acko Two Wheeler Insurance Coverage- 

Acko Two Wheeler insurance policy provides coverage against the following risk/damages- 

  • Theft

Your bike is covered by ACKO Insurance against theft. If your two-wheeler is stolen, they will offer you a claim. 

  • Calamity-caused damage

Natural and man-made disasters such as riots, floods, earthquakes, and other natural and man-made calamities are covered by ACKO Bike Insurance. 

  • Own-vehicle insurance

You can acquire coverage for your car if it is damaged. You’ll also be covered for bodily injuries sustained by the rider in the event of a bike accident. 

  • Injuries

The Acko Two Wheeler Insurance policies cover damages to the bike such as scratches, dents, damaged parts, and so on. 

  • Third-party liability-

Third-party damages like bodily injury or death, as well as damage to third-party property, are covered. 

  • Accidental Damage

You are insured for damages to your bike caused by accidents under ACKO Bike Insurance. 

Discounts offered by Acko Two Wheeler Insurance- 

Generally, ACKO insurance provides various types of discounts and offers. You can get amazing deals on your insurance premiums and certain extra benefits as well with ACKO insurance. They generally provide offers at the time of special occasions. Currently, there is no ongoing offer available on the ACKO Two-Wheeler insurance policy. 

Exclusions of Acko Two Wheeler Insurance- 

The following are some of the exclusions from ACKO’s two-wheeler insurance policy: 

  • In the event of a tube or tire puncture, no coverage is offered. If the bike is damaged, however, 50 percent of the cost of replacement or repair will be covered. 

  • If the harm happened outside of India’s geographical limits, there is no coverage. 

  • If the vehicle has been used for unlawful reasons, no coverage will be granted. 

  • If you do not own the bike, you will not be covered. 
  • Wear and tear, breakdowns, failures, and deductibles are all excluded from the policy. 

  • If the insurance coverage has expired, no claims may be filed. 

  • Damages caused during a war are not eligible for compensation. 

  • If your driver’s license has expired at the time of the accident, you will not be covered. 

  • If you are under the influence of alcohol or other prohibited drugs while driving, then no compensation is provided. 

Add-on covers with Acko Two Wheeler Insurance- 

Acko Insurance company believes in offering top services to their customers. They want to deliver all the necessary services to keep their customers satisfied. Hence, they provide some extra covers on two-wheelers insurance that are as follows- 

  • Coverage for Zero Depreciation

With the Zero Depreciation add-on insurance, ACKO will cover the cost of components replacement without taking into account depreciation. 

  • Personal Property (Theft/Damage)

This add-on cover will keep your helmet/other belongings safe. It will cover the cost of helmet repair or replacement in the event of an accident, theft, natural catastrophe, fire, or riot. 

  • Key Protect Cover

This protects you against having to replace the bike’s key if it is stolen, lost, or broken. Also, if the lock-set has to be repaired or replaced, get money. 

  • Coverage for Roadside Assistance

With this add-on, our professionals will replace/repair the flat tire for you. It will save you time and aggravation during the breakdown. 

  • Outstation Emergency Cover

ACKO will pay the sum mentioned in the add-on cover if your bike breaks down or is involved in an accident outside of a 100-kilometer radius of your home. 

  • Cover for the engine

The cost of repairing or replacing engine parts will be covered by the Bike Engine add-on cover. It can be caused by flood damage, not riding the bike for a long period, coolant/lubricating oil leaks, and hydrostatic lock. 

  • Coverage for Consumables

Engine oil, nuts and bolts, screws, lubricants, grease, distilled water, and other consumable products will be covered by ACKO. 

How to Claim for Acko Two Wheeler Insurance? 

Getting your claim reimbursed is effortless on Acko Insurance. With a few steps, you can get compensation for your damage. The method is fully digital and straightforward. There are two types of claims- 

  • Cashless claim 
  • Reimbursement claim. 

Let us tell you one by one about both types of claims. 

  1. Cashless Claim-  

In this cashless claim, you need to take your damaged bike to a network garage. You should make sure that the garage is affiliated with the ACKO insurance company. The surveyor will go to the garage to inspect the bike and approve the claim. Your repair work can be completed by an authorized garage after approval. ACKO will pay the garage directly in this instance. You only have to pay your deductible, and the ACKO will handle the rest.  

The following are the steps to get a cashless claim- 

  • Visit the website or mobile app of ACKO insurance. 

  • Click on ‘claim now’ to file the claim. 

  • Follow the given steps and fill necessary credentials. 

  • Choose the cashless method of claim. 

  • Rest will be taken care of by ACKO. 
  1. Reimbursement Claim

In this reimbursement claim, first, you must pay the repair fee yourself. After that, you must provide the original invoices, payment receipts, and other documents to ACKO. The deductible amount will be deducted by ACKO following the terms and conditions. They will then pay you for the cost of the repair. In this situation, you may get your two-wheeler fixed at any garage of your choice.  

The following are the steps to get a reimbursement claim- 

  • Visit the ACKO insurance website or download the ACKO mobile app. 

  • To file a claim, go to ‘claim now.’ 

  • Follow the on-screen instructions and enter the required information. 

  • Choose the reimbursement method of claim. 

  • Provide photos of damaged parts, original invoices, and payment receipts. 
  • The money will be deposited into your account after approval. 

FAQs – Acko Two Wheeler Insurance

Q1. Why do I need to insure my two-wheeler? 

Ans – It is important to ensure your two-wheeler, as the law mandates it. Two-wheeler insurance provides you coverage against any financial and accidental risk. You don’t have to worry about any huge repair or service by taking an insurance policy. 

Q2. What are the types of two-wheeler insurance plans offered? 

Ans – Mostly, ACKO offers the following two types of insurance plans for Two-Wheelers- 

1. Third-Party Insurance 

2. Comprehensive Bike Insurance 

In some cases, you can also get Personal Accident (PA) cover. 

Q3. What is IDV in two-wheeler insurance? 

Ans – The Insured Declared Value, of your bike, is the value determined by the insurance carrier. In the event of a claim, this is the maximum amount you will get. Before you acquire bike insurance, make sure you verify the IDV. This will come in handy if you need to file a claim within the policy time. 

Q4. What is covered under bike insurance? 

Ans – You can get coverage of the following things under your ACKO bike insurance policy- 

1. In Third-Party Policy, you can get coverage of damage to others’ property/vehicle. Injuries or death of a third party. 

2. In Comprehensive Bike Policy, you can get coverage for to damage someone else’s property and injuries. Also, loss, theft to your bike as well. 

Q5. What are the different methods by which the payment can be made in case I purchase the policy online? 

Ans – You can use the following payment methods to pay your premium online- 

Debit or credit card 

Debit or credit card 

Net banking (UPI) 

Digital Wallets 

Q6. Is it possible to purchase a two-wheeler insurance policy for a new bike?  

Ans – Yes, you can get an insurance policy for your new bike. Although it is mandatory to get insurance for your new bike to protect it from any financial or accidental risk. You can get an ACKO insurance policy within minutes with its seamless customer service.