ACKO offers two types of two-wheeler insurance policies at attractive premiums. The process to purchase an insurance policy is simple and can be completed online. No documents and inspections are required to purchase a policy from ACKO.
Different Two-Wheeler Insurance Policies offered by ACKO
The different types of two-wheeler insurance policies that are offered by ACKO are mentioned below:
Comprehensive Bike Insurance Plan:
Apart from everything that is covered under a third-party insurance policy, the comprehensive bike insurance plan offered by the company covers any damages or losses to your bike in the case of strikes, riots, earthquakes, floods, fire, theft, or an accident.Third-Party Bike Insurance Plan:
It is mandatory to have third-party bike insurance 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.
Personal Accident Cover
In India, it is mandatory to have a Personal Accident (PA) cover. The cover is an add-on to improve the bike insurance policy. Under the PA cover, financial protection is provided in case of death or disability when riding a bike.
Features of ACKO’s Two-Wheeler Insurance
The main features of the two-wheeler insurance policy that is offered by ACKO are mentioned below:
- The premium of the bike insurance policy starts from Rs.482.
- The policy can be purchased online.
- The renewal process can be completed online.
- The Claims Settlement Ratio (CSR) is at 95% (Financial Year 2020-2021).
- PA cover up to Rs.15 lakh is provided.
- In case you purchase a Comprehensive Bike Insurance Plan, Own Damage Cover is provided.
Benefits of ACKO’s Two-Wheeler Insurance
The main benefits of the two-wheeler insurance policy that is offered by ACKO are mentioned below:
- You can save money by purchasing multi-year two-wheeler insurance plans.
- The policy can be bought online.
- Renewal process can be completed online.
- Claims can be raised online.
- Discounts may be provided during festive seasons.
- The process to purchase the policy is hassle-free.
- ACKO offers bike insurance policies at low premiums.
The add-on covers that are offered by ACKO for its bike insurance policies are mentioned below:
- Consumables Cover
- Bike Engine Protect
- Outstation Emergency Cover
- Key Protect
- Roadside Assistance Cover
- Personal Belongings – Damage/Theft
- Zero Depreciation
Some of the exclusions of the two-wheeler insurance policy offered by ACKO are mentioned below:
- Cover is not provided in the case of tube or tyre punctures. However, in case the bike is damaged, 50% of the replacement/repair cost will be provided.
- Cover is not provided in case the damages have occurred outside the geographical boundaries of India.
- Cover will not be provided in case the vehicle has been used for illegal purposes.
- Cover will not be provided in case you don’t own the vehicle.
- Cover will not be provided in case your license has expired at the time of the accident.
- No cover will be provided in the case of wear and tear of parts.
- Claims cannot be raised in case the insurance policy has expired.
- Claims cannot be raised in case damages have been caused during war.
- Claims cannot be raised in case the accident has occurred when you are under the influence of intoxicating drugs or alcohol.
What are the different methods by which the payment can be made in case I purchase the policy online?
The different methods by which the payment can be made are mentioned below:
- Digital wallets
- Net banking
- Credit card
- Debit card
Is it possible to purchase a two-wheeler insurance policy for a new bike?
Yes, you can buy a two-wheeler insurance policy for a new bike.
Does the premium of the bike insurance policy change according to the bike’s variant and model?
Yes, the bike’s variant and model determine the premium of the two-wheeler insurance policy.
What documents must be provided in the case of a claim?
The below-mentioned documents must be provided in the case of a claim:
- Policy document.
- Any pictures that have been taken when the accident occurred.
- The bike’s Registration Certificate (RC).
- Driving License.
- Any other documents that have been requested.
Can a claim be raised during the two-wheeler insurance policy’s grace period?
No, a claim cannot be made during the grace period.