A motor insurance policy is a service offered by insurance companies that aim to provide vehicle owners with financial assistance in case of crashes or repair and maintenance. Additionally, it guarantees that if your car or bike is stolen, a predetermined sum of money will be reimbursed to you.
Why do you need a Motor Insurance Policy?
A motor insurance policy can provide a financial safety net, protecting you from substantial financial losses in case your vehicle is involved in an accident or stolen.
The other important reason for buying a Motor Insurance policy is that it is mandated by law. The Motor Vehicles Act 1988 makes it compulsory for every motor vehicle to at least have a third-party insurance policy to ply on Indian roads legally.
What are the different types of Motor Insurance Policies on offer?
The 3 types of motor insurance policies on offer are as follows:
- Third-party Insurance Policy – As the name suggests, a third-party insurance policy provides financial cover for the third party in case of accidents leading to property damage, injuries, and even death.
- Own Damage Insurance Policy – Just like a third-party insurance policy protects the third party from financial liabilities, a similar own-damage insurance policy covers your vehicle in case of accidents and mishaps. However, as per the rules of the Motor Vehicles Act, you cannot only buy your own damage insurance policy.
- Comprehensive Insurance Policy – A Comprehensive insurance policy combines features offered by third-party insurance policies and own-damage insurance policies. This insurance policy often comes with certain attractive features like add-ons etc.
Why Choose ACKO?
Acko Insurance is a reputable insurance company that offers online vehicle insurance solutions at your fingertips. Acko provides you with a simple and convenient insurance service platform with a host of features, like:
Low-cost premiums – Acko is an online insurance company that provides a seamless experience for buying insurance. They do not use intermediaries and insurance agents, which eliminates commission, and instead sell the insurance policy directly to the customer. It enables them to offer far lower premium rates.
Zero paperwork – Being an online insurance company, ACKO requires no documents or lengthy paperwork. Gone are the days when one had to fill out multiple complicated insurance forms to buy a simple motor insurance policy. With ACKO, you can buy your desired insurance policy with the click of a few buttons, making the buying experience hassle-free and seamless.
Hassle-free claims – Acko provides options like pickup and drop, where an Acko repairer will pick up your damaged vehicle and drop it at your doorstep after the repair procedure. The provider also provides a three-day repair guarantee; these features, combined with a real-time claim tracking option, will make your claims experience hassle-free.
Instant settlement and renewal – Acko offers instant compensation for minor claims. In the case of major claims where the damage to the car is significant, the provider ensures that the settlement process is as quick as possible. Acko insurance renewal procedure is also simple and fast.
24×7 Service Guarantee – Acko promises an all-around service experience for you. It means that you can buy a vehicle insurance policy at your own convenience, be it a working day or a holiday, ACKO is always a click away.
Strong Customer Base – Acko has a very well-respected customer base with some glowing online reviews, which is ever-increasing. It is a testament to their superior service quality.
Steps to Buy Motor Insurance From ACKO
- Log on to the Acko website and select the vehicle number, model, and insurance policy.
- Select the best insurance policy based on preferred features and premium rate
- Make the payment, and your vehicle is insured.