Acko Car Insurance Renewal

Apart from financial security, Insurance brings peace of mind. However, it is important to make sure that you remember to renew the insurance before it expires, risking your peace of mind. Renewing insurance is as important as buying one. This article will walk you through the significance and benefits of car insurance renewal from Acko.

ACKO general Insurance was founded in 2016, and since then they have established a reputation in the industry. Acko uses a digital-first approach which means the whole process of insurance purchase or renewal is done through their app which allows them to work more efficiently. Acko holds the confidence of customers for instant claim settlement.

Consequences of Not Renewing Your Car Insurance Policy

If your policy expires without renewing it, the insurer's promise to cover is nullified as well which creates a financial risk for you. If you immediately renew your policy after realising it has expired, there is nothing to lose. But if you don’t renew it there are consequences to face such as:

1. No Claim Bonus (NCB) Loss: You will lose your bonus of no claim if you forget to renew your policy. Your NCB is the biggest discount on premium giving up to 50% discount.
2. Legal Trouble: A third-party liability insurance policy is mandatory by the government. Not renewing insurance can lead to a penalty.
3. No Cover and Claim: If anything happens to your car after the insurance expiry, you won't be subjected to any cover or claim.
4. Scope for Inspection: If you miss the opportunity to renew your policy on time, there is a high chance that an inspection of your car will be arranged. This is done to test the condition of your car which influences the premium, and the cost of inspection is also added to the premium. Overall you will have to pay a higher premium.
5. Longer process: In case the insurer arranges an inspection, your process of renewal will be much longer and the time of your car without insurance will increase.

Advantages of Renewing Your Car Insurance With Acko

Among the various benefits of renewing your car insurance with Acko, some are listed below:

1. Digital Process: The Acko app hosts the whole process which means you don't have to go out, sign papers, or wait in queues. Everything is done on your mobile app.
2. Fast Process: Acko is known for ultra-fast renewals through your mobile application.
3. Rapid claim settlement: Due to the technology-based system, Acko ensures to settle your claim quickly.
4. Value-added service: With services like one-day pickup and instant repair, getting insurance from Acko is very smooth and hassle-free.
5. Customer Support: A team of advisors is there to help you understand policies and find the one that fits you.

Acko Car Insurance Renewal Dates and Reminders

Don't know when to renew your car insurance? Let us tell you

How to Check the Renewal Date?

Below mentioned are ways to check your renewal date.

• Check your policy: The expiry date must be mentioned on your previous car insurance papers. Ideal renewal date is the next day of the date of expiry.
• Check on InsuranceDekho: You can go to our website and check when is your active insurance expires. You can do by entering the details of your car and you will get access to the policy insights.
• Customer Support: Customer support of InsuranceDekho will help you to check your policy expiry dates. Contact our Customer Support on 755 1196 989.

Note: In case you forget to renew your Acko car insurance policy on the expiry date, you can still renew it during the Grace Period provided by the insurer to avoid a gap in your coverage.

Reminder Options

Given below are options to get reminders to help you track and plan your policy.

• InsuranceDekho Reminder: InsuranceDekho provides reminders on your policy by WhatsApp text or email.
• Email or SMS by Insurer: You can also expect renewal reminders directly from Acko or your current insurer via emails, or SMS alerts.

Documents Required for Renewal

If your previous insurer was Acko and you wanted to renew the policy from Acko, the documents required would be minimal. However, if you are transferring your insurance from some other insurer to Acko, then you might need more documents.

If you are transferring your insurance to Acko then you would need the following documents:

• Drivers Licence
• Registration certificate of Car
• Insurance papers of previous insurance
• Vehicles mileage

Optional Documents:

• Claim history of the car
• Your car maintenance history
• Vehicle ownership information ( in case you are not the registered owner)

How to Renew Your Acko Car Insurance Policy?

To renew your car insurance with Acko, follow the given steps:

Step 1: Download the Acko App on your mobile or visit their official website.

Step 2: Select car insurance.

Step 3: Enter car details > Select Plans > Select Add-ons > Enter personal details and Checkout by paying.

Due to Acko’s digital foundation, you can not purchase car renewal through an offline approach.

Online Payment Options for Acko Car Insurance Renewal

You can choose to make the payment using any of the following modes:

• EMI (Equated Monthly Instalments) or yearly payment
• Credit Card
• Debit Card
• Netbanking
• UPI
• Wallets

Acko Car Insurance Renewal through InsuranceDekho

Since Acko is not flexible due to its digital-first approach, Renewing through InsuranceDekho brings you many benefits including the option of an offline approach.

To get Insurance offline you can contact InsuranceDekho customer support and we will schedule a home visit with our relationship manager who can guide you throughout the process.

Helpline Number: 755 1196 989

Note: Port Feature: If dissatisfied, we offer a port facility to you that allows you to change your insurance provider.

Car Insurance renewal premiums are calculated based on the following factors:

• Make, Model, Variant: These factors play a crucial role in calculating your car premium. Cars with powerful engines like sports cars and luxury cars usually have higher premiums.

• IDV (Insured Declared Value): This value plays a huge role in influencing your premium. It is the estimated value of your car at the time of insurance renewal. It considers the car's market cost, depreciation value, and condition of the car.

• Registration year: Old cars can cost less to repair than new cars with the latest technology. The premium usually decreases with the age of the cars.

• No Claim Bonus (NCB): The duration of your claim-free period influences your NCB, a longer duration would mean a higher bonus.

• Add-ons: Add-on covers like zero-depreciation and roadside assistance give more benefits, but also increase premiums.

Things to keep in mind while Renewing Your Car Insurance

Keep these points in mind while you proceed with the renewal of your car insurance.

• Age of Car: As your vehicle gets older, the possibility of a higher renewal premium increases.

• Inflation Impact: Insurance companies keep varying their premium amounts, this is majorly due to inflation. Hence the premium you will pay to renew may differ from your previous policy.

• Claim History: Your claim history affects your premium, especially if you have made costly claims.

Grace Period for Acko Car Insurance Renewal

Acko provides a grace period after the expiry of the policy to renew your car insurance. This period is different for different policies but usually, Acko provides a grace period between 30 to 90 days. which means if you renew your policy within 30 to 90 days after expiry, you will get the benefits of renewal like A No Claim Bonus, and won't have to face the consequences such as inspection.

Note: The grace period does not mean the car is insured during that period, it just gives extra time to renew the policy.

Acko Car Insurance Renewal: Customer Support & Assistance

If you require any assistance or further details on the car-renewal policy, you can contact InsuranceDekho. Our team is available for your help 24X7.

Email: support@insurancedekho.com

Helpline Number: 755 1196 989

If you want, you can contact Acko directly by accessing their mobile app or their official website