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Acko Insurance Review (5 Star Insurance): Buying and Claim Settlement.

I’m writing Acko Insurance Review after using it for 1 year for my Car and Bike. I had purchased Acko Insurance for my Car in Jan 2019. I was looking for a company that provides insurance at a cheaper rate. Reason for cheap insurance, I use my Car for less 3000 km per year and I wanted to save some money. Most of the insurance which Car dealer was giving was costing near to 18k rupee.

Acko Insurance Review

Acko Insurance Review

My Car is the Hyundai Grand i10 Petrol model and it is three years old. First two years I had Reliance General Insurance which was costing around 18k per year. It was suggested and issued through my car dealer. I guess the car dealer being an agent for the Insurance price was high. One of the best reasons for Acko insurance being cheap is they don’t have agents. You can buy insurance from the site making it cheaper because of no agent commission involved.

So for the search of cheap insurance providers, my search landed me on the Acko website. When I saw pricing for my vehicle on my Acko website I was in shock. Like how they can provide insurance for the same vehicle in less 11k price. Acko price was 7k less compare to my last insurance. It started confusion should I go for Acko or stick to the same old provider.

How the Acko insurance price can be so low? This was the first question in my mind. According to Acko, they don’t have any middle agent to buy insurance. They have minimum sale branches as all purchases for insurance are on the website. So they save money due to technology which costs less money.

I had found some reviews on the internet and the Acko Facebook page and most of them showing positive about the company. Finally, I decided to give a try and I can say my decision to take insurance for them was a good idea. I had a claim settlement for my car and it was a smooth experience overall.

I had purchased Insurance for Car from Acko Insurance in Jan 2019. It was a very good experience just provider Car details, like the model, car make year, Petrol or Diesel, and specify IDV value and make payment. Once you make the payment, they will send you Insurance in PDF format. You can take print of PDF and you are ready to go. I will attach my Insurance copy image as an example. So this was a seamless experience for buying car insurance. After 2 months I purchased Insurance for my bike.

After purchase you have expectation from your insurance company is an easier claim, fast payment, multiple payment options, quick response. I can say Acko is up to the mark on most of the place. I will share my story of the claim and settlement of my car accident from Acko Insurance.

Some of the best features of Acko insurance.

  1. Prices are very low compared to other companies.
  2. The company is registered under IRDAI (Insurance Regulatory and Development Authority). This gives assurance that your insurance money is in safe hands.
  3. Convienient to Purchase Insurance Policy.
  4. Fast and easy claim settlement process.
  5. 1 hour pick time once you register for the claim.
  6. Cashless claims on authorized garages or you go for money in your account once you submit the bill after repair.
  7. 3 days repair time promise if they fail to do so they will reimburse cab voucher for your daily travel. (For selected city cab voucher is provided.)

Now let me share my experience with Acko from Buying a new policy to going for claim settlement for my car.

Documents Required for Claim Settlement.

  1. Policy soft copy or Xerox.
  2. Pan Card.
  3. Aadhar Card.
  4. Vehicle Registration Copy. 
  5. Driving License of Driver who was driving during the accident.
  6. Bank Passbook front page or Canceled cheque photo. (Required if you are going for Cash option for settlement.)

I was traveling outside of Mumbai on 16/Dec/2020. I was stopped at the Petrol station for fueling my Car. After fueling we were waiting for on friend at a petrol station. One Truck was passing by the right side of my Car. He all of sudden took his truck back without looking at his left. He was so near that I was not able to react quickly to move out of my car. Truck banged right side of my card Damaging Bumper, Fog lights, Front Fender, Wiper Fluid box. This was the visual damage. None of us had any injury because my Car was stopped stage and truck speed was also slow.

my-car-accident my-car-accident-side-view

After the accident, we were not sure what to do next. I had the first accident in my life. So I called Acko to know what to do next. My major question was do I need to register any FIR to claim process. I called the toll free number of Acko. They asked a few questions, like if any injury, do you need to tow service, Is the vehicle in drivable condition. I replied to all the details. I asked one question about FIR and that due to my having accident first time had no idea what needs to be done. 

I asked if I need to file FIR with police to claim Insurance? They said the claim settlement department will call you in 1hrs. I didn’t get any callback from Acko. I called them 2 more times and they were asking to wait for 1hrs. This was a very frustrating experience that was caused by Acko’s support. As I was still on the accident spot and was worried.

Finally, I called them one more time this time one of the “Intelligent” support guys who was not just reading transcripts. He said sir if you’re going for own damage claim then you don’t file FIR. FIR is required for the third party claim process. This gave me relief, I collected pieces of evidence of the accident. Clicked images of a truck driver, truck images, and documents of the truck. We canceled the trip and went back home with a broken car. Communication with the support team was an unpleasant experience otherwise everything about the settlement was best.

After the last support call, I had asked Acko to pick up my car from my home location. The accident happened around 2 pm and around 5 pm Acko inspection person reached home for inspection. He inspected the car took photos Registration Certificate of vehicle, photo of insurance, driving license, PAN card, Aadhar card, and one canceled cheque. They have a total of three options for Car repair which I know from the inspection guy. first, you can take your car to any garage and repair it they will pay once you submit the bill to them. second, Acko has a tie-up with many local garages where they will repair your car and they give 3 days guarantee to return your car. If they don’t return within three days they will pay you for OLA, uber travel bills. third, you can take the car to the brand garage like (for my case Hyundai service center/garage). I went for the third option but in the third option, they don’t give three days repair guarantee.

After that, I just dropped my car to the authorized Hyundai service center which Acko has tie-up. After dropping my vehicle I just update Acko advisor over the phone and email. They handle further from communication to payment of bills. On the fourth day, I got my car return after paying 1000 for claim charges and 300 consumable charges. I would say only the support team was week otherwise everything was handled very fast and smoothly. My Car total repair cost more than 30005 which was paid by Acko, and I had paid around 1300 which included claim charges and consumable charges.

My Car after all repair done by Modi Hyundai Thane service center. 

my-car-after-repair my-car-after-repair-1

I can recommend you Acko based on my experience. It is a far more best Car or Bike insurance provider. They are cheaper than other providers in the market. Easy to purchase and faster claim, fast response time. They have fewer branches as all the work is handle using emails, phone calls. So don’t expect braches as conventional insurance companies.