ACKO Zero Depreciation Car Insurance

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Buying and driving a car is no small feat. There are a lot of issues that can arise in unfortunate situations. Driving a vehicle on the streets comes with several risks. Indian roads are full of people not following traffic rules. However careful you might be, you never know when accidents can happen. 

Car insurance has always been an intelligent way of safeguarding your vehicle's and your own life. There are many types of insurance policies. The ACKO zero depreciation car insurance is one such policy that ensures your financial safety as a priority. Let us learn more about the policy and its features below.

ACKO Zero Depreciation Cover

ACKO zero depreciation car insurance is a type of financial protection that does not put the burden of depreciation on the policyholder. If your vehicle has met with an accident, the depreciated value of the car parts is not generally covered under a regular insurance cover. Whereas with the ACKO 0 depreciation car insurance cover, the company would reimburse the total amount of liabilities, and you would not have to pay anything from your pocket.

The ACKO zero depreciation car insurance has the following features:

  • It covers all kinds of damages without making you pay for the depreciated value of your car.
  • An ACKO zero depreciation car insurance online cover prevents the possibility of out-of-pocket expenses.
  • Zero depreciation can be coupled with a standard ACKO car insurance policy as an add-on.
  • The policyholder would be receiving the total claim amount as the regular wear and tear of the vehicle is eliminated.
  • Premiums for zero depreciation policies are generally higher than other insurance policies.

How does ACKO Zero Depreciation Car Insurance Work?

If you have a car, the value of its parts decreases with time. Regular wear and tear may cause your vehicle to lose its value. At the time of an accident or any other kind of damage to the car, the car insurance company does not cover the depreciated value of the car parts. Therefore, the policyholder has to pay those damages out of their pocket. 

With an ACKO zero depreciation car insurance policy, this possibility is eliminated. As the name suggests, a zero depreciation policy covers the depreciated value of the car's damaged parts when a claim is being raised. Every insurance provider calculates depreciation at different rates. 

Benefits of ACKO Zero Depreciation Add-On Cover

  • A zero depreciation cover adds to the already-existing insurance coverage of your car.
  • Additional cover, such as a zero depreciation protection for your car, gives you more peace of mind while driving it.
  • By covering all the depreciated parts of the car, this policy cuts down additional expenses that you might have to pay out of your pocket.

Depreciation Rate Applicable on Car With and Without Zero Depreciation Add-on

Age of the carWithout Zero Depreciation Add-On (%)With Zero Depreciation Add-On (%)
6 months- 1 year50
1-2 years100
2-3 years150
3-4 years250
4-5 years350
5-10 years400
More than 10 years500

What is Included Under an ACKO Car Insurance Policy with Zero Depreciation Cover? 

  • The ACKO zero depreciation car insurance online policy covers damages to all car components such as fiberglass, nylon parts, rubber parts, and plastic parts.
  • Depreciation that has affected the car's overall value would also be covered under the ACKO zero depreciation car insurance policy.

What is not Included Under an ACKO Car Insurance Policy with Zero Depreciation Cover? 

  • Damages incurred by a car that is more than five years old
  • Engine damage due to oil leakage and water ingression
  • Mechanical and electrical breakdowns
  • Damages incurred by a private car being used as a commercial vehicle
  • The ACKO car zero depreciation insurance policy would not cover the cost of clutch oil, gear oil, engine oil, brake oil, etc.
  • Damages incurred by the car being used for illegal activities
  • Damages incurred by the car due to driving under the influence of intoxicants
  • Damages incurred by the car due to driving without a valid licence
  • Damages incurred by the car due to driving with an expired insurance policy

Factors Affecting ACKO Zero Depreciation Cover

The following factors influence the ACKO zero depreciation cover:

  • Car’s age: Newer cars have lower premiums compared to older cars.
  • Car’s model: Selected models of cars are not covered by a zero depreciation policy.
  • Location of the registration: If the car is registered in a densely populated area, premiums are high as the car is more likely to meet with an accident.

How to Buy ACKO Zero Depreciation Car Insurance?

ACKO zero depreciation car insurance is simple to purchase. You can go to the company's official website and select a quote. This process is even more concise by using the ACKO app for smartphones.

You can use the following steps to buy the ACKO zero depreciation car insurance policy:

  1. Download the ACKO app on your smartphone or visit the official website.
  2. Complete the information, such as car model, registration number, etc., in the required fields.
  3. Select the type of car insurance policy you want to buy. In this case, choose the ACKO zero depreciation car insurance policy.
  4. Choose one of the preferred quotes.
  5. Upload the necessary documents and pay the premium.
  6. Collect the policy details via email.

ACKO Zero Depreciation Car Insurance Review

ACKO zero depreciation car insurance is one of the most bought policies in the market. This is because of the impeccable customer service provided by the company. Be it raising a claim or policy renewal, ACKO is known for being proactive with customer complaints and issues and solves every query in the least amount of time possible. If you want to drive your car without a worry in the world, opting for the ACKO zero depreciation car insurance would be the ideal choice.

ACKO Zero Depreciation Car Insurance FAQs

  • 1. Are zero depreciation policy and Bumper-to-Bumper add-on the same thing?

    Yes, zero depreciation and Bumper-to-Bumper policy are the same and can be bought as an add-on with a standard car insurance policy.

  • 2. Is it possible to raise a claim with the ACKO app?

    Yes, you can raise a claim through the ACKO app.

  • 3. Which factors affect the ACKO zero depreciation car insurance policy premium?

    Model of the car, age of the car, and the owner's residential location affect the ACKO car zero depreciation insurance online premium.

  • 4. Is tyre damage covered under the ACKO zero depreciation car insurance policy?

    Yes, tyre damage would be covered under the ACKO zero depreciation car insurance policy.

  • 5. Is the zero depreciation policy meant for new cars only?

    The ACKO zero depreciation car insurance policy is meant for newly purchased cars. However, owners of older car models of up to 5 years of age can also opt for the same.

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