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Go for different bike insurance this time!

07:23 PM Nov 25, 2022 IST | Bhushan Mayekar
go for different bike insurance this time
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Signing up for an Acko bike insurance plan is quick, easy and requires no paperwork. Acko is known to offer affordable insurance policies by eliminating commissions. Thanks to Acko’s digital infrastructure, you can avail a low-cost policy with minimal effort. 

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However, it is key to know what’s included in your policy and what is not. This way, you’ll be equipped to pick a plan and know your rights when the time comes to make a claim. Read on to know the inclusions and exclusions associated with an Acko bike insurance policy.

Things you should know before buying car insurance

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Inclusions in third-party Acko bike insurance 

With a third-party bike insurance plan, you receive compensation in case an accident occurs involving your insured bike and there is:

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  • Injury to a third-party person
  • Death of a third-party person
  • Damage to a third-party property

Exclusions in a third-party Acko bike insurance

bike insurance

When you take just a third-party bike insurance plan, you meet the mandatory legal requirement for bike owners in India. However, you forego having your own vehicle and self covered.

So, you won’t receive any compensation in case your vehicle:

  • Is damaged in an accident
  • Is stolen
  • Sustains loss during a natural or man-made calamity

Also, Acko offers you certain features only with comprehensive plans. With a standalone third-party insurance policy, you don’t have the benefit of:

  • NCB discount
  • Cashless claim facility
  • Instant claim facility
  • Customization of Insured Declared Value (IDV)

Inclusions in a comprehensive Acko bike insurance 

bike insurance

A comprehensive plan offers wide coverage, beyond what is offered in a third-party bike insurance plan. However, it includes third-party coverage as well. 

Apart from this, you also get financial assistance in case of:

  • Accidental damage: When your own bike sustains harm during an accident
  • Fire events: Losses due to fire explosion, lightning, self-ignition
  • Robbery: Burglary, house break-ins, theft
  • Natural calamities: Earthquakes, floods, typhoons, land slides, etc.
  • Man-made disasters: Riots, strikes
  • Damage in transit: Road, rail, inland waterways, air, lift
  • Other: malicious activity, terrorist acts

Exclusions in a comprehensive Acko bike insurance

bike insurance

In certain cases, Acko will not be liable to provide financial assistance. These include:

  • Damages to your bike outside the policy period
  • Damage to your bike when riding a bike without a driving license
  • Damage to your bike due to electrical or mechanical breakdown
  • Damages arising out of regular wear and tear
  • Damage to tyres and tubes, except when the vehicle sustains damage at the same time
  • Loss of accessories during theft, except when vehicle is stolen at the same time
  • Damages to your bike when the driver is under the influence of alcohol or drugs
  • Damage to yourself when riding the bike

For the last case, you need to have a personal accident (PA) cover. You can sign up for an optional PA cover with any Acko bike insurance. 

Finally, it is important to bear in mind some general exceptions that apply to third-party as well as comprehensive plans.

You cannot make a claim for payment in case:

  • The incident occurs outside the geographical area
  • Loss or damage arising due to use of nuclear weapons
  • Losses sustained due to war

Having considered the main inclusions and exclusions attached to an Acko bike insurance plan, pick the right one. Customise it to your preference and invest online to maximize your savings!

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