ACKO Third-Party Bike Insurance

In case you own a two-wheeler, it is mandatory to have third-party bike insurance to use the vehicle in India. Under the policy, protection is provided against any financial liability in case you injure someone or damage his/her property or vehicle in an accident. No cover is provided for your bike under this policy. The process to purchase ACKO’s third-party bike insurance is simple and can be completed online. 

Features of ACKO’s Third-Party Bike Insurance 

The main features of the third-party bike insurance policy offered by ACKO are mentioned below: 

  • The renewal process can be completed online. 
  • A new policy can be purchased online. 
  • Up to Rs.1 lakh may be provided in the case of third-party property damages. 
  • The premium that must be paid starts from Rs.482. 
  • Unlimited liability cover will be provided in the case of injuries to the third party. 

Benefits of ACKO’s Third-Party Bike Insurance 

The main benefits of the third-party bike insurance policy offered by ACKO are mentioned below: 

  • The process to purchase the policy is simple and can be completed online. 
  • Minimal documents must be provided. 
  • The premium of a third-party bike insurance policy is determined by the IRDAI. Therefore, the chances of a huge hike in the premium are minimal. 

Process to Buy ACKO’s Third-Party Bike Insurance 

The procedure to buy the third-party bike insurance policy offered by ACKO is mentioned below: 

  • Visit the official website of ACKO or download the mobile app. 
  • Enter the model of the two-wheeler. 
  • Next, enter the year you purchased the bike. Details of the previous policy will need to be entered as well. 
  • Select ‘View Prices’. 
  • Choose the relevant plan and make the payment to purchase the policy. 

Exclusions 

The main exclusions of the third-party bike insurance plan offered by ACKO are mentioned below: 

  • Cover will not be provided in case your license has expired at the time of the accident. 
  • Claims cannot be raised in case the accident has occurred when you are under the influence of intoxicating drugs or alcohol. 
  • No cover will be provided in case your bike has been damaged. 

Claim Process 

The procedure that must be followed in order to make a claim is mentioned below: 

  • The first step would be to inform ACKO in regard to the accident. 
  • Next, the First Information Report (FIR) must be filed. In most cases, the third party will fire the FIR. 
  • Next, the case will be heard by the Motor Accident Claims Tribunal. 
  • Next, the result will be given. Following this, the settlement of the amount will be made by ACKO. 

  1. Can I purchase just the third-party bike insurance policy? 

    Yes, only the third-party bike insurance policy can be purchased. 

  2. Is it possible to renew the third-party bike insurance policy online? 

    Yes, the third-party bike insurance policy can be renewed online. 

  3. Will No Claim Bonus (NCB) be provided if I purchase a third-party bike insurance policy? 

    NCB will not be provided under a third-party bike insurance plan. 

  4. Does the engine capacity determine the premium of the policy? 

    Yes, the engine capacity determines the premium that must be paid. 

  5. Can I renew the policy online? 

    Yes, the third-party bike insurance policy can be renewed online. 

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