ACKO Private Car Insurance Policy

What Does It Cover?

?Section I: Own Damage Or Loss

The insurer provides financial protection against loss or damage caused to your vehicle and/or its accessories in the event of -

1. Fire, explosion, self-ignition, or lightning.
2. Burglary or theft.
3. Riots and strikes.
4. Earthquake (fire and shock damage).
5. Flooding, typhoons, hurricanes, storms, tempests, inundation, cyclones, hailstorms, or frost.
6. Accidental external causes.
7. Intentional malicious actions.
8. Acts of terrorism.
9. Transporting by road, rail, inland waterway, lift, elevator, or air.
10.  Landslides or rockslides.

 This is subject to a deduction for depreciation based on the rates shown below -

1. All rubber/nylon/plastic parts, tyres, tubes batteries and airbags - 50% depreciation

2. Fibreglass components - 30% depreciation

3. All parts made of glass - No depreciation

4. The depreciation rate for all other parts, including wooden ones, will follow this table –

 

% Of Depreciation	Age of the Vehicle
Nil	Not exceeding 6 months
5%	Higher than 6 months but not more than 1 year
10%	Higher than 1 year but not more than 2 years
15%	Higher than 2 years but not more than 3 years
25%	Higher than 3 years but not more than four years.
35%	Higher than 4 years but not more than 5 years
40%	Higher than 5 years but not more than 10 years
50%	Higher than 10 years

 

5. For painting, 50% depreciation is applied to the material cost of the total painting charges. If the painting charges are mentioned as a part of a consolidated bill, the materials part will be considered 25% of the total painting charges for applying the depreciation.

?Section II: Liability to third parties.

The insurer provides financial protection for you against -

1. Loss of life or physical injury to another person.
2. Damage to property, except in case it is owned by you or is held in your care or control.

Section III: Personal Accident Cover For Owner-Driver.

Personal Accident (PA) Cover in car insurance covers physical disability or death in the event of an accident. The cover is offered along with vehicle insurance and operates like general insurance offering financial protection.

In case of death or bodily injury, the insurer will compensate you as per the following scale -
 

Scale of Compensation	Nature of Injury
100%	Death
100%	Loss of 2 limbs or 1 limb or sight of 2 eyes or 1 eye.
50%	Loss of sight of 1 eye or 1 limb
100%	Permanent total disability from injuries other than that mentioned above.

Note: Certain terms and conditions may apply.
 

What It Will Not Cover?

The insurer will not be liable/responsible for any payments related to –

• Consequential loss, depreciation, regular use causing wear and tear, mechanical or electrical failures or breakages.
• Damage to tyres and tubes, unless your vehicle is also damaged at the same time. In such a case, the insurer is responsible for paying only 50% of the cost of replacement.
• Any accidental loss or damage incurred when you or anyone driving the vehicle with your consent is under the influence of alcohol or drugs.
   

Insured Declared Value (IDV)

Insured Declared Value or IDV is the maximum amount your insurer will pay in case of damage or theft. So basically, the IDV determines the highest amount you can claim under your vehicle insurance.

Here’s a table showing the depreciation rates for deciding on the IDV of the vehicle -

% of Depreciation for Fixing IDV	Age of the Vehicle
5%	Not exceeding 6 months
15%	Higher than 6 months but not exceeding 1 year
20%	Higher than 1 year but not exceeding 2 years
30%	Higher than 2 years but not exceeding 3 years
40%	Higher than 3 years but not exceeding 4 years
50%	Higher than 4 years but not exceeding 5 years

 

General Exceptions

The insurer will not provide coverage in the case of -

1. Any accidental loss or damage and/or liability resulting from driving your car outside of the geographical area specified in the policy.
2. Any claim resulting from a contractual liability.
3. Any accidental loss damage and/or liability incurred when the vehicle is not used as per ‘Limitations as to Use’.
4. Accidental loss, damage, or liability incurred when the vehicle is driven by anyone other than the driver, as stated in the driver's clause.
5. Any accidental loss or damage to any property or any loss or expense arising out of consequential loss.
6. Any accidental loss or damage caused by ionising radiation or radioactivity from nuclear fuel/nuclear waste as a result of combustion.
7. Any accidental loss or damage caused directly or indirectly by nuclear weapons.
8. Any accidental loss or damage and/or liability caused by war, invasion, foreign enemy action, hostilities etc. In the event of a claim, you need to prove that the accidental loss damage and/or liability isn't related to the said occurrences or any consequences. In the absence of such proof, the insurer cannot be held liable to pay for it.

 

Add-ons Available With ACKO Motor Insurance (Private Car)

Here are some of the add-ons available with Acko Motor Insurance -

1. Consumables Cover
By paying an additional premium, the insurer will cover the expenses incurred on consumable items for a claim arising out of an accident during the policy period and admissible as per Section I of the underlying policy.

Special Conditions
Consumable items include engine oil, gearbox oil, lubricants, nuts and bolts, screws, distilled water, grease, oil filter, bearings, washers, clips, brake oil, air conditioner gas and stuff like that, minus the fuel used to fix the car.

Note: Certain terms and conditions are applicable.

2. NCB Protect Cover
By paying an additional premium, you can keep your current No Claim Bonus intact at renewal, even if you make a claim during the policy period.

Special conditions

• During the policy period, the number of such claims reported must not go beyond the number listed in the schedule of the add-ons.
• Damage to windshields, sunroofs, and doorglasses will not be considered a claim.
• Theft/total loss shall not be considered as a claim. And, your current No Claim Bonus will be kept intact if you buy a private car package policy from Acko within 3 years after the theft or total loss.
• Theft of partial accessories/parts won't be covered under this add-on.
• Other than that, this add-on is subject to the terms, conditions, limitations, and exclusions of the underlying policy.

3. Outstation Emergency Cover

In case your vehicle becomes immovable due to a breakdown or accident outside of a 100-kilometre radius of your area of residence during the policy period, the insurer will pay the amount mentioned in the add-on schedule - in exchange for an additional premium.

Special Conditions

• The vehicle needs more than 12 hours to be repaired from the time of the accident/breakdown.
• Under this add-on, Acko is only liable for the number of claims listed in the Schedule.
• No claim bonus-related calculations will not be made on the claims under this add-on.
• Besides these, this add-on is subject to the terms, conditions, limitations, and exclusions of the underlying policy.

4. Roadside Assistance Cover
By paying an additional premium, you can opt for this add-on which provides on-road assistance if you ever get stuck in the middle of the road. As part of the cover, the insurer provides emergency assistance services - upon request - if they are enlisted in the schedule of the add-ons.

Note: Certain terms and conditions are applicable.

5. Zero Depreciation Cover

In the event of a partial loss claim due to an accident during the policy period, the insurer will pay the amount of depreciation deducted from the value of the parts replaced. This add-on is available at an extra premium.

Special Conditions

• It will only pay the depreciation amount for the number of claims specified in the schedule attached to the add-on.
• The claim should be deemed valid under the conditions specified in Section I of the underlying policy.
• If no replacement is involved and no depreciation is deducted under own damage, it won't be considered a claim under the add-on.
   

What Is Not Covered?

This add-on doesn’t provide coverage for -

• Depreciation towards any replacement of tyres and tubes unless otherwise stated in the schedule of the add-ons.
• Total loss or constructive total loss of your vehicle.

Note: Certain terms and conditions are applicable.

6. Loss of Licence/RC Cover

In case your government-issued driving licence or registration certificate is stolen or lost during the policy period, the insurer will pay the fixed amount specified in the schedule of the add-ons. This add-on is available at an extra premium. Please note that the claim must be backed by a First Information Report (FIR) filed with the police.

Note: Certain terms and conditions are applicable.

7. Engine Protect Cover

Upon payment of an additional premium, the insurer will cover the costs of repair or replacement arising out of consequential damages of the engine, gearbox, or differential assembly after water intrusion, hydrostatic lock, or coolant/lubricating oil leakage - up to the amount specified in the schedule attached to the add-ons.
 

What Is Not Covered?

Here are some of the circumstances not covered under this add-on -

• Normal wear and tear or repairs done without the insurer's knowledge.
• Repair or replacement stemming from driving your vehicle under the influence of alcohol or drugs or any act of driving that violates the law, including underage driving, illegal racing, or driving without a licence.
• Damage or loss caused by corrosion of the engine and/or gearbox because of a delay in notifying the insurer or removing your vehicle from a waterlogged area.
• Any claims whose scope is covered under any other type of insurance policy with any other insurer or manufacturer’s warranty including recall campaigns or under any other such packages at the same time.
• Expenses associated with lubricants in case of loss due to leakage and flushing of consumables.
• Any claim notified to the insurer after 30 days of the loss or damage.
• Any claim where the repair was done without the insurer's consent.
• Loss or damage caused by wear and tear.

Note: Certain terms and conditions are applicable.

8. Invoice Cover

In case of theft, total loss, or constructive total loss of your vehicle during the policy period, the insurer will cover the difference between the Insured Declared Value and the invoice value mentioned in the policy schedule, or the latest manufacturer invoice value, whichever is lower - in exchange for an additional premium.

Special Conditions

• Any road tax and registration fees associated with the new vehicle are included in the total expenses.
• The claim must be admissible under Section I of the underlying policy.

What Is Not Covered?

 The add-on doesn't provide coverage under the following circumstances -

• A stolen vehicle that is recovered within 90 days of theft.
• No final investigation report (FIR) is issued by police authorities in the event of a theft claim.
• Any electrical/electronic and non-electrical/electronic accessories that are not inbuilt, including bi-fuel kit, that are part of the invoice but not covered by Section I of the policy. 

Note: Certain terms and conditions are applicable.

9. Key Protect Cover

When you pay an additional premium, the insurer will cover the cost of -

?Replacing the key of your vehicle if it gets lost, stolen, or damaged.

?Repairing the lock set if it gets damaged.

The expenses will be covered up to the amount specified in the schedule attached to the add-ons.

Special Conditions

• You won't lose your No Claim Bonus at the time of renewal even if you make a claim under this add-on.
• Burglary or theft claims must be supported by a Police First Information Report (FIR).
• The replaced keys/lock/lockset should be of the same model and type as the original for which the claim is filed.
• You need to report any loss or damage to the keys/locks/lockset within 30 days of the loss/damage.
• The keys will only be replaced if they are damaged or broken. If the key(s) are stolen, the entire set - key, lock, and lockset - will be replaced.
   

What Is Not Covered?

This add-on will not cover -

• Damage/loss of keys/locks/locksets caused by a criminal act, malicious activity, deliberate behaviour, etc.
• Any kind of loss/damage covered by the manufacturer's warranty.
• Any claim in the absence of invoices/receipts for the payments.
• Loss or damage resulting from radiation, radioactive contamination, explosives, corrosives, invasives, toxic substances, etc.
• Any loss or damage to any part of your vehicle other than your keys, its lock, ignition system, any immobiliser, infrared handset and/or alarm attached to the fob.
• Any loss or damage resulting from consequential losses.

Note: Certain terms and conditions are applicable.

10. Personal Belongings Cover - Damage

Upon paying an additional premium, the insurer will cover the expenses incurred to repair or replace your personal belongings in your vehicle in case of an accident during the policy period. These costs will be covered up to the sum insured outlined in the schedule of the add-ons, minus the applicable depreciation amount.

Special Conditions

• The claim must be acceptable under Section I of the underlying policy.
• Unless otherwise stated in the schedule, the amount payable by the insurer under this add-on will be adjusted for depreciation as per the rates given below -

Age of the Personal Belongings	Depreciation % (on Invoice Value)
Not above 1 year	20%
Above 1 year but not above 2 years	40%
Above 2 years but not above 3 years	50%
Above 3 years but not above 4 years	60%
Above 4 years	80%

What's Not Covered?

Acko will not cover any claim notified to them after 30 days of the incident.

Note: Certain terms and conditions are applicable.

11. Personal Belongings Cover Including Electronic Equipment

If you pay an additional premium, the insurer shall cover the loss of your personal belongings kept inside your vehicle in the event of an accident, theft, or burglary of your vehicle during the policy period, up to the sum insured stated in the schedule attached to the add-ons. The coverage is subject to the applicable depreciation.

Special Conditions

• The claim must be backed by a First Information Report (FIR) filed with the police.
• You need to produce written proof of ownership or care of the portable electronic equipment to the insurer.
• Unless otherwise stated in the schedule, any amount payable by the insurer under this add-on is adjusted for depreciation as per the rates given below -

Age of the Personal Belongings	Depreciation % (on Invoice Value)
Not above 1 year	20%
Above 1 year but not above 2 years	40%
Above 2 years but not above 3 years	50%
Above 3 years but not above 4 years	60%
Above 4 years	80%

 
What Is Not Covered?

This add-on will not cover -

• Lost data or re-creation of lost data.
• Damage to electronic equipment that has been caused by you.
• Loss of belongings in open-top or convertible cars except in the case where the belongings are kept in the vehicle’s locked boot.
• Any loss of personal belongings unless your car is locked and all doors and windows are closed.
• Loss or damage to business or trade-associated belongings.
• Any claim notified to the insurer beyond 30 days of the incident.

Note: Certain terms and conditions are applicable.

12. Personal Belongings Cover – Theft

If you pay an additional premium, the insurer will cover the loss of personal belongings kept inside your vehicle in case of accident, theft, or burglary of your vehicle during the policy period, up to the sum insured stated in the schedule attached to the add-ons. The coverage is subject to the applicable depreciation.

Special Conditions

• The claim must be backed by a First Information Report (FIR) filed with the police.
• You need to submit written proof of ownership or care of the belongings to the insurer.
• Unless otherwise stated in the schedule, any amount payable by the insurer under this add-on is adjusted for depreciation as per the rates given below.

Age of the Personal Belongings	Depreciation % (on Invoice Value)
Not above 1 year	20%
Above 1 year but not above 2 years	40%
Above 2 years but not above 3 years	50%
Above 3 years but not above 4 years	60%
Above 4 years	80%

What Is Not Covered?

This add-on will not cover -

1. Any loss of belongings in an open top or convertible cover except in the case where the belongings are kept in the vehicle’s locked boot.
2. Any loss of personal belongings unless your car is locked and all doors and windows are closed.
3. Loss or damage to business or trade-associated belongings.
4. Any claim notified to the insurer beyond 30 days of the incident.

Note: Certain terms and conditions are applicable.

13. Small Repair Claim

 If you pay an additional premium, Acko will cover the costs associated with labour and battery replacement in the event of a vehicle repair during the policy period. These expenses will be covered up to the sum insured specified in the schedule attached to the add-ons for the following services in their authorised garages -

• Painting
• Balancing
• Wheel alignment
• Polishing
• Any type of minor denting work for non-cutting/non-welding
• Opening-Fitting
• Paid service labour (in accordance with the OEM’s recommendations)
• Brake overhaul
• Clutch overhaul
• Interior cleaning
• Anti-rust coating
• Twenty points electrical check-up
• Suspension overhaul
• Engine tuning
• Tyre rotation
• Battery replacement
• Gearbox overhaul

Special Conditions

You won't lose your No Claim Bonus at the time of renewal even if you make a claim under this add-on.

Exclusions

This add-on will not cover any repair work done without any prior approval from Acko. And, the coverage is subject to the terms, conditions, limitations and exclusions of the underlying policy.