Free one-month auto insurance! This company offers 1-month policy extension without charges

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Updated: April 7, 2020 12:09:49 PM

Policyholders who renew or buy an auto insurance policy pay for 12 months and get a 1-month extension on tenure at no cost.

Bike insurance, acko general insurance, acko insurance, third party and own damage policies , COVID 19,Acko has announced an industry-first initiative that gives a 1-month insurance extension to car and bike owners.

After the lockdown was imposed all across the country to help fight the COVID-19 pandemic, one is staying indoors and even the car and bike are lying parked in their respective parking slots. As people are not using their vehicles at this time, their insurance for the month remains unutilized. To support customers during this time where their car/bike will not be in use, Acko General Insurance, a new age online insurance provider, has decided to not charge insurance for 1 month and has announced an industry-first initiative that gives a 1-month insurance extension to car and bike owners.

Policyholders who renew or are first time buyers of Acko’s auto insurance policy will need to pay only for 12 months and will get a 1-month extension, at no extra cost. This initiative will provide relief to customers for the month of the lockdown where their car or bike has not been used.

The Ministry of Finance has announced a grace period for premium payments for third party policies till 21st April. In addition to that, Acko is offering a 1-month extension on the tenure of the third-party and own damage policies at no extra cost.

For existing Acko policyholders, the time frame for availing the 1-month lockdown extension is for the full financial year, from April 2, 2020 to March 31, 2021. They will receive a 13-month policy for the premium amount of 12-months on renewing. New customers can avail the 1-month lockdown extension on auto insurance till the lockdown period i.e. 14th April, 2020.

This latest initiative to not charge insurance for 1 month is probably the industry-first initiative that gives a 1-month insurance extension to car and bike owners. What it essentially does is that the policyholders who renew or are buying Acko’s auto insurance policy for the first time will need to pay only for 12 months and will get a 1-month extension, at no extra cost. This initiative is expected to provide relief to customers for the month of the lockdown where their car or bike has not been used.

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