Acko Insurance Reviews, Ratings, Best Plans and USPs

Acko General Insurance

Acko is a general insurance company that is vibrant and vivacious to its core. The organization was founded in 2016 to provide high-quality insurance services to customers living across India. Acko is also the first digital insurer in India and is currently one of the fastest-growing insurance companies in our country.

In a span of just three years, Acko has given their insurance technology a complete makeover. Everything can be accessed online which has resulted in almost no paperwork associated with purchasing, claiming, or renewing insurance. Currently, Acko has over 50 million unique and happy customers in India.

The team at Acko is always working efficiently to make accessing insurance services effortless for their customers. There are currently over 400 employees working at Acko and it has successfully partnered with several organizations like Amazon, Ola, OYO, and redBus.

At Acko, customers can purchase everything from hotel-stay insurance to trip insurance and covers for electronic items. This organization has also been awarded the Golden Peacock Innovative Product award in 2020. Financial Express also chose Acko as their winner for the Savings and Insurance category in the same year.

Acko also consistently shows up in the Top Startups list on LinkedIn. The organization also offers customized solutions in terms of its prices, policy coverage, claim settlements, and customer service. Acko also has an impressive 83.91% claim settlement ratio.

    Prepare today for a relaxed and secure future.

    Check out the best health insurance plans here:

    Policy Type

    IndividualFloater

    The key benefits of choosing Acko insurance products are:

     

    Lowest Prices

    With Acko, customers always get the best prices for insurance policies. On top of this, the organization also provides several discounts and deals on their premium prices throughout the year.

     

    The Factor of Convenience

    With the help of Acko Insurance, customers can instantly purchase insurance policies with just a few clicks. Every step of getting new insurance can be performed online. Customers can also get support and request for claims and renewals online.

     

    Claims without any Stress

    It is often quite a stressful process to apply for a claim. However, that is not the case with Acko. The Acko customer care ensures that users have to do nothing beyond making a call to a customer representative for making a claim. They handle everything from there, including picking up the vehicle, repairing it, and dropping it back at the doorstep of the policyholder.

     

    Instant Claim Approvals

    In case of minor damages, policyholders can get their claims settled quickly. All they have to do beyond that is simply avail the service according to their convenience.

    Acko provides a wide range of health, motor, travel, home, and fire insurance policies to their customers. In this section, we will dive deeper into this topic and learn more about those policies.

    Acko Health Insurance

    Acko Health Insurance generally provides cover for medical care. Under this insurance, policyholders can get reimbursed for the amount of money they pay to get any treatment done for an illness or injury.

    In this policy, coverage is provided for hospitalization, day care processes like cataract operations, treatment of critical illness, and medical bills before post-hospitalization. There are several add-on benefits that policyholders can also opt for, including:

    • Maternity Cover: This add-on benefit provides coverage for costs related to childbirth. This means that expenses like check-ups before delivery, postnatal care, and hospitalization charged during delivery will be reimbursed to the policyholder
    • Pre-existing Diseases Cover: Treatment for existing diseases before the purchase of a health insurance policy will also be covered under this benefit
    • Accident Cover: Medical treatments for injuries are also covered under this benefit. These injuries can be caused due to mishaps or accidents

    Purchasing Acko health insurance can also provide tax benefits. The premium payment can reduce an individual’s taxable income. For example, if one purchases a policy for himself or herself, then he or she can get a tax dedication of INR 25,000 and INR 30,000 for senior citizens on the premium amount.

    Further, in the case of policies for parents or senior citizens, one can get a tax deduction of INR 30,000. The total tax-deductible amount would be INR 55,000 to INR 60,000. For the purpose of this policy, senior citizens are categorized as people aged 60 years and above.

    Acko Motor Insurance

    Motor insurance can be purchased by customers to protect proper coverage for their cars or bikes. These insurances are also widely considered as health insurances for cars and bikes. Under this policy, one can expect to receive financial protection for the vehicle in case of loss due to damage, accidents, fire, natural calamities, and theft.

    Acko also provides motor insurance for commercial vehicles. It is also legally binding for individuals to purchase motor insurance for all their vehicles in India. Let’s look at the specific details of both car insurance and bike insurance.

    Features and Benefits

    Car Insurance

    Two-Wheeler Insurance

    Basic Process

    Start by paying an annual premium to get your car insured against several damages. In case of any damage, apply for a claim and receive it

    Works on the same basic process that governs car insurance policies

    Insured Amount

    This amount depends on the type of car that the policyholder owns and the policy selected by him or her

    The amount depends on the type of two-wheeler owned by the policyholder and the policy selected by him or her

    Policy Term

    One can choose from a one-year policy term to a three-year policy term

    Policy term can vary from one-year terms to three years terms

    Motor insurances are further divided into two types. These two types of insurance policies can be purchased for cars and two-wheelers. Let’s look at those two types of insurance policies by going through the table mentioned below.

    Type of Insurance

    Third Party Insurance

    Comprehensive Insurance

    Features and Benefits

    This policy covers all damages that that are caused to some other individual and his or her property or vehicle

    This policy covers all sorts of damages and liabilities caused by the policyholder or some other individual. Some damages covered in this policy are sabotage, accidents, natural calamities, fire, and theft

    Policyholders can also increase the coverage of their motor insurance by opting for several add-on covers.

    Acko Travel Insurance

    Acko Travel Insurance compensates the policyholder for any financial liabilities that can arise due to medical or non-medical emergencies. This should happen when the policyholder is traveling abroad or within the country.

    Customers can also choose from a single trip policy or an annual multiple trip policy. Let’s discuss both of these policies in the table below.

     

    Single Trip Policy

    Annual Multiple Trip Policy

    Distinguishing Factor

    In the single trip policy, one gets coverage for the duration of a single trip that can last a maximum of 180 days

    In the case of an annual multiple trip policy, policyholders can get coverage for several trips that the policyholder can take within a year

    Coverage and Benefits Provided

    • Loss of passport
    • Hijacking
    • Loss of baggage
    • Emergency medical expenses
    • Accidental death
    • Delayed flights
    • Loss of baggage
    • Emergency medical charges
    • Loss of passport
    • Delayed flights
    • Accidental death
    • hijacking

    Acko Home Insurance

    Acko Home Insurance provides coverage against any damages caused to the home of the policyholder in case of man-made disasters, natural disasters, or other threats. Under this policy, one can get protection against liabilities caused due to theft, fire, earthquakes, burglary, flood, and sabotage.

    The home insurance policies also provide coverage to the valuables present inside the property of the individual. Acko mainly provides four home insurance policies. Let’s look at the distinguishing features of those policies in the table mentioned below.

    Acko Home Insurance Policy Type

    Distinguishing Features

    Basic Fire and Special Perils Policy

    • Coverage under this policy is provided to the house in case of fire outbreaks and special perils
    • Damage is also provided against natural disasters like flood, storm, lightning, and earthquakes
    • Damages due to overflowing or bursting of pipes and water tanks
    • Damages that are the result of man-made activities like riots and strikes

    Home Structure Insurance Policy

    • This policy provides protection to the entire structure of the house in case of any damages or risks
    • The cover also extends to the permanent fixtures present inside the house, including bathroom and kitchen fittings

    Public Liability Coverage

    • The policy protects against any damages to any other person beyond the policyholder or their property while inside the home

    Content Insurance Policy

    • The policy provides coverage to the content of the home
    • Usually, electronic equipment like refrigerator, television, and other portable equipment

    Acko Fire Insurance

    Acko Fire Insurance provides coverage for the damages that are caused to the goods or property due to fire. The policy further covers replacement, reconstruction, or repair expenses of the property that was insured and its surrounding structure.

    Third-party property damages are also covered under this policy. Beyond that, if the livelihood of any individual is affected due to the fire, then the insurer also takes care of those expenses. Now, let’s look at the different types of fire insurance policies.

    Types of Insurance Policy

    Features and Benefits

    Valued Policy

    • In this policy, the insurer first values the property and then undertakes to pay the compensation for the value that has been estimated in the case of any damage or loss

    Floating Policy

    • This policy covers all damages to properties lying at several places

    Comprehensive Policy

    • This policy is also known as the all-in-one policy
    • The policy covers a wide range of damages that could result due to theft, fire, and burglary

    Specific Policy

    • This policy provides coverage for a specific amount that is less than the real value of the property

    Acko COVID-19 Health Insurance Policies

    The COVID-19 pandemic has created a lot of havoc in the world. This is why Acko has provided its customers with two COVID-19 health insurance policies. These policies are Corona Kavach, which is a basic mandatory cover,  and Corona Rakshak, which provides fixed benefits. Let’s look at the details of both of these policies.

    • Acko Corona Kavach COVID-19 Insurance Policy

    The Acko Corona Kavach COVID-19 Insurance policy is a basic policy that covers the expense of treatments for any medical condition, pre-existing conditions, and treatment for COVID-19. The minimum sum insured of this policy is INR 50,000 and the maximum sum insured is INR 5 lakh.

    This insurance policy is available with a tenure of 3.5 months, 6.5 months, and 9.5 months. In all of these terms, the policyholder has to pay a single premium. This is also a limited policy that does not come with any renewability benefits. It can also be categorized as a reimbursement-based standard COVID-19 health cover.

    Policyholders can make a claim in this policy if they have tested positive for COVID-19 at a diagnostic center, which has been authorized by the government. In this policy, expenses like boarding, room, and nursing charges will be covered.

    Fees of surgeons, anesthetists, specialists, and Intensive Care Units (ICU) are also covered under this policy. Diagnostics, oxygen, and ventilator charges are also a part of this policy cover. The minimum entry age of this policy is 18 years and the maximum entry age is 65 years. Families can also be covered under the family floater policy option.

    An add-on feature of daily hospital cash can also be opted for by the policyholders. Under this benefit, the insurer will give 0.5% of the sum insured every day to the policyholder for 24 hours of continuous hospitalization for COVID-19 treatment. This is payable for a maximum of 15 days during the policy period.

    • Acko Corona Rakshak COVID-19 Insurance Plan

    Acko Corona Rakshak COVID-19 Insurance plan is a policy based on benefits. In this policy, the insurer will provide a lump sum value if the policyholder is hospitalized for a minimum of 72 hours after testing positive for COVID-19.

    The minimum sum assured for this policy is INR 50,000 and the maximum sum assured is INR 2.5 lakh. After the payment of this amount, the policy would cease to exist. The policy tenure can also vary from 3.5 years to 6.5 years and 9.5 months with a single premium.

    Best Policies of Acko

    The best policies of Acko are given in the list below.

    Acko Four Wheeler Insurance

    Acko Four Wheeler Insurance is a simple policy to protect the car of an individual against accidents, thefts, natural disasters, fire, and third-party liabilities. This policy comes in two variants of third party car insurance policy and comprehensive car insurance policies.

    This policy is available at a very affordable premium and can have an accidental coverage of up to INR 15 lakh. There are also several add-on options available with this policy. Extra charges will be required on top of the base premium to opt for these add-on options.

    Acko also provides paperless door-to-door claim facilities with this policy. One can also avail of cashless advanced facilities. Let’s look at other details of this policy in the table below.

    Key Benefits

    Coverage

    Third Party Property Damage

    Up to INR 7.5 lakh

    Own Damage Cover

    Coverage for own car for its loss and damage

    Personal Accident Cover

    Up to INR 15 lakh

    Add-On Covers

    Six additional covers provided

    Claim Assistance

    Around-the-clock claim assistance

    Acko Bike Insurance

    The Acko Bike Insurance is a two-wheeler cover that is a simple and convenient way of protecting the vehicle of an individual. There are three types of bike insurance policies offered by Acko. And these types of policies are:

    • Third party insurance
    • Standalone Own-Damage insurance
    • Comprehensive insurance policies

    It is mandatory to purchase a third party insurance policy for all two-wheelers in India according to the Motor Vehicles Act of 1988. In this policy, third party liabilities are covered in case of bodily injuries, property damage, and death.

    It is also recommended that one should get standalone own-damage cover too. This policy would protect the individual in case of an accident, theft, vandalism, natural disasters, and road accidents. And the comprehensive insurance policy covers both own-damage costs and third party liabilities.

    There are some add-on covers that one can choose to enhance the coverage of the policy. Acko also provides their policyholders with an option to customize the policies. All of this can be done for an additional fee that is charged over the base premium. Other details of this policy are:

    Features and Benefits

    Coverage

    Third Party Insurance Property Damage Benefit

    Up to INR 1 lakh

    Own Damage Cover

    It is dependent on the IDV of the two-wheeler

    Personal Accident Cover

    Up to INR 15 lakh

    Assistance for Claim Procedures

    Is provided online around-the-clock




    Acko is one of those organizations that is never looking for a reason to reject a claim. The organization is also looking for ways to approve a claim. And this fact clearly shows in the claim settlement ratio of the company, which was 97.22% for motor insurances in the last year alone!

    This company is also very transparent when it comes to its customers and the information shared by them. The company is also making constant efforts to meet the requirements of not just their stakeholders but also their policyholders and prospective customers.

    The data shown on the official website is always updated so that their customers are never behind on information. Acko is an organization that you can and should trust when it comes to purchasing online insurance policies. This organization also had an excellent Incurred Claim Ratio (ICR) and Gross Written Premium (GWP).

    Customers have also rated the services of Acko very highly. Let’s look at what the customers have to say about this organization.

    • Dedicated Customer Service by (Navya Kaur) (5 stars / 5 stars)

    I have recently purchased an insurance policy from Acko. I was amazed at how quick their customer representatives were in helping me purchase a policy. I bought the Zero Depreciation cover for my vehicle through their help. I would definitely recommend this company to my family and friends.

    • Love the Renewal Reminders by Prayag Mathur (5 stars / 5 stars)

    I have an Acko third party bike insurance policy for my KTM 200 Duke. I have been renewing this policy every year without fail thanks to the payment reminders sent by Acko. I’m very happy with their services till now.

    • No Complaints by Fahima Mirza (5 stars / 5 stars)

    Before getting Acko’s online insurance policy, I used to go through so much to buy and renew my policy. Things changed and I went online with Acko and I’m very glad about that. I’m a loyal Ack user now.

    Acko FAQs

    1. Can I trust Acko insurance services?

    Yes, absolutely! Acko is an IRDAI licensed (IRDAI Registration Number: 157) general insurance company. It offers health, taxi, car, and two-wheeler insurance policies. Acko is partnered with several leading companies in India, including Zomato, OYO, Ola, Amazon, RedBus, and MakeMyTrip.
    According to the official records, Acko has served more than 60 crore customers till now. They have an amazing 4.8 stars rating on Google and 4.2 stars rating on Facebook. They provide an excellent experience to all their customers.

    2. Can I get cashless insurance benefits through Acko?

    Yes, Acko General Insurance company does provide cashless claim settlements to their customers. This is provided in cases of car insurance, bike insurance, and health insurance through an established network of partner garages and hospitals that are located all across the country.

    3. Is Acko General Insurance a verified organization?

    Yes, Acko General Insurance is a verified company. Acko is licensed and certified by the Insurance Regulatory and Development Authority of India (IRDAI), which is responsible for regulating all insurance companies functioning in India. The IRDAI registration number of Acko is 157. This means that this company is verified to sell and provide services related to insurance policies in India.