Acko car insurance policy aims to provide comprehensive coverage for your vehicle. However, certain things are covered as well as a few things are not, depending on the specifics. Let’s examine the range as well as exclusions of an Acko car insurance policy.
What is covered:
- Damage to your own vehicle: This covers coverage for the damage caused by crashes and landslides, along with floods, in addition to cyclones and human activity. You will be compensated for the cost of repairs or the current market value of your car, depending on the severity of the damage.
- Third-party liability: This protects against any legal responsibility resulting from the usage of the covered vehicle that causes property damage or third-party harm or death. The maximum liability limit is Rs. 15 lakhs for personal injury and Rs. 7.5 lakhs for property damage under a comprehensive policy.
- Personal accident cover: This provides compensation in case of permanent disability or death of the insured or their spouse due to an accident while traveling in the insured vehicle. The maximum cover is Rs. 15 lakhs.
- No-claim bonus protection: If you have an NCB of 50% or higher as well as make no claims during the policy period, your NCB entitlement remains protected at the same level even if you renew the policy with a different insurer.
- Emergency medical expenses: Up to Rs. 10,000 is provided for medical expenses of occupants injured in an accident involving the insured vehicle.
- Consumable expenses: Up to Rs. 750 is provided to cover consumables like engine oil, lubricants, filters etc. that are damaged in an insured accident.
What is not covered:
- Depreciation: There is no coverage for depreciation on damaged parts replaced during repairs under an own damage section. You have to bear this cost.
- Engine damage: Any damage to the engine or gearbox of the vehicle arising due to sludge deposit or engine failure is not covered.
- Consequential loss: Any financial or non-financial losses arising from accident damage are not covered—for example, loss of income.
- Acts of terrorism: Damage due to terrorist activities or nuclear perils are excluded from coverage.
- Deductible: The policyholder has to bear an initial amount, called the deductible, for each as well as every claim made. This varies based on the IDV of the vehicle.
- Usage for racing: If the vehicle is used for motor racing or rallies, damage arising during such events is not covered.
- Driving without license: Third-party liability is not covered if the driver does not have a valid driving license at the time of the accident.
Acko vehicle insurance provides comprehensive coverage for accidental damage to your vehicle as well as your legal liability. However, certain normal wear as well as tear costs plus losses arising from some high-risk activities are not covered. Carefully reviewing the policy terms will help you understand the exact scope of coverage.