Owning a vehicle involves several responsibilities, including purchasing auto insurance, mandated by the Motor Vehicles Act of 1988 in India. It is possible to feel overwhelmed while choosing the best auto insurance coverage due to the abundance of accessible alternatives on the market.
Acko Auto Insurance is a relatively young competitor in the market that has swiftly garnered popularity owing to the user-friendliness of its products, the hassle-free nature of its claims procedure, and its affordable pricing. In this piece, we will reveal 10 little-known facts about Acko Insurance that you probably weren't aware of.
- Digital-First Insurer
Acko is India's first digital-first insurance firm, and the company's primary mission is to provide clients with insurance solutions that are both straightforward and uncomplicated. The firm was established in 2016 and conducts all its business activities online.
It provides health insurance plans, insurance policies for automobiles and two-wheelers, and insurance policies for people. The consumer does not need to fill out any paperwork or make any trips to the insurer's office in order to buy, renew, or make a claim on their car insurance online policy, thanks to the digital-first strategy that Acko takes.
- Paperless Process
Another important benefit offered by Acko is that the firm uses a paperless approach in its operations. Customers can save time and effort since the organization eliminates the need for physical paperwork. The whole transaction takes place via the internet, from purchasing insurance to filing a claim.
The business relies on cutting-edge technology to confirm the customer's identification before collecting any more information that may be required. Acko is also able to provide its consumers with cheap pricing because of the paperless procedure it uses.
- 1-Hour Claim Settlement
Acko's claims settlement procedure is one of the fastest in the business, and they provide payment in as little as one hour. The organization offers a claim payout within an hour for any little damage that may have occurred to the vehicle. Online claims may be submitted by the customer, and Acko's AI-enabled claims bot will evaluate the client's claim and decide whether or not to approve it within an hour. Customers that need immediate repairs to their vehicles stand to benefit significantly from the inclusion of this function.
- Protection for the Customer's No-Claim Bonus
Acko provides an optional add-on known as no-claim bonus protection, which safeguards the customer's no-claim bonus in the event that they file a claim while the policy is active. Customers are eligible for a reduction known as the no-claim bonus if they go the duration of their insurance without filing any claims for reimbursement. The percentage off might vary anywhere from 20% to 50% of the total cost of the premium. With the no-claim bonus protection add-on, the client is guaranteed to keep their no-claim bonus even if they file a claim, which reduces the insurance policy’s total cost.
- Roadside Assistance
Acko provides its clients with roadside help 24 hours a day, seven days a week, in an emergency such as a flat tire, a dead battery, or the need for fuel delivery. If the client calls the helpline number provided by Acko, the firm will promptly dispatch a technician to the area within a short time. Because of this function, the client will not need to go through the trouble and expense of locating a mechanic in an unfamiliar area.
- Cashless Claims
Acko's network of over 6,500 garages in India enables clients to get cashless vehicle repairs, making it possible for the company to honor cashless claims. The client is free to bring their vehicle to any of the garages that are part of the Acko network, and the cost of the repairs will be handled directly by Acko with the garage. Thanks to this provision, the consumer is spared the hassle of making an initial payment for the repairs and then submitting a claim for reimbursement to the insurance.
Acko provides its clients with a wide variety of add-on covers from which they may choose to augment the scope of their insurance coverage. Acko's popular add-on covers include zero depreciation cover, engine protection cover, consumables cover, and personal accident cover for passengers. Other popular add-on covers include engine consumables cover and consumables cover. These add-on covers are available to the client for an additional premium payment amount, and they provide additional protection for the customer's vehicle.
The auto insurance plans sold by Acko include comprehensive coverage, which encompasses personal accident protection for the driver in addition to third-party liability and own-damage coverage for the vehicle. Coverage for responding to a third party is required by law and compensates for any damages made to the property or person of a third party. On the other hand, ownership coverage pays for repairs to the insured vehicle if it is damaged due to natural disasters, theft, or accidents.
Acko is dedicated to upholding the principle of transparency and makes it a point to guarantee that its clients are fully informed of all of the stipulations of an insurance policy before they buy it. On its website, the firm makes comprehensive policy papers available, including the terms and conditions, coverage, and exclusions of the policy. Also, the customer support staff at Acko is accessible around the clock, seven days a week, to help clients with any questions or problems.
Discount for Safe Drivers
Acko discounts its services to consumers with a history of safe driving behind the wheel. The firm provides discounts to the client depending on their driving score and employs telematics technology to monitor the customer's driving behavior to do so. The total driving score is determined using various criteria, including speed, acceleration, and braking. Clients with a good driving score may be eligible for premium reductions of up to 25 percent if they have good driving records.
To summarize, Acko Car Insurance is a dependable insurance company that strongly emphasizes the customer experience and provides its clientele with a wide variety of services and advantages. Acko guarantees that its clients have a smooth and trouble-free experience regarding their auto insurance by using a paperless procedure, a claim settlement time of one hour, and add-on coverage options.
The fact that the organization is dedicated to providing open communication and helpful assistance to its clients is an additional selling point. If you want auto insurance, you should seriously consider Acko.