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Personal Belonging: Electronic Equipment - Bike Insurance Add-on

Team AckoJan 18, 2024

An accident to your bike or theft can take a toll on your finances. That said, the Comprehensive Bike Insurance Policy will take care of the cost to cover these liabilities. But what happens to your personal electronic equipment that you may have left inside the bike such as your mobile phone? Does vehicle insurance provide coverage for these electronic gadgets? Read on to learn about the Personal Belonging - Electronic Equipment add-on cover that takes care of your personal gadgets.

Contents

What is Personal Belonging - Electronic Equipment in Bike/Two-wheeler Insurance?
How to Buy Personal Belonging - Electronic Equipment Add-on Cover?
Benefits:
How to Claim Two-wheeler Insurance for Loss of Personal Electronic Equipment?
Two-wheeler Package Policy - Add-ons: Personal Belonging (Electronic Equipment)
Frequently Asked Questions:

What is Personal Belonging - Electronic Equipment in Bike/Two-wheeler Insurance?

It is an add-on cover attached to the standard comprehensive plan. In case of an accident, theft or burglary of your insured two-wheeler, ACKO will reimburse the amount stated in the add-on cover for the loss of your personal belongings left inside the insured vehicle, subject to the applicable depreciation. You can buy the add-on while purchasing or renewing the Comprehensive Bike Insurance Policy for your bike.

For Example: In case your bike has been stolen while you had parked on a public road, and had left your mobile phone inside the bike, the add-on will reimburse the amount specified in the add-on cover to cover the loss of your mobile phone after considering the depreciation of the device.

How to Buy Personal Belonging - Electronic Equipment Add-on Cover?

The process of buying the add-on cover is easy if you follow the required guidelines. Follow the steps below to buy the Personal Belonging - Electronic Equipment add-on cover:

New to ACKO:

Step 1: Visit our website ACKO.com or the smartphone app.
Step 2: Enter details of your bike, such as registration number, year of manufacture, the location where the bike was registered, etc.
Step 3: Select the comprehensive insurance policy for your bike (Third-party bike insurance and Own Damage Covers included).
Step 4: Choose Personal Belongings - Electronic Equipment add-on cover.
Step 5: Pay the premium and the policy will be sent to your email account instantly.

ACKO Customers:

Step 1: Log in to your account through our website ACKO.com or through the ACKO app.
Step 2: Select to renew your bike policy. You have the option to choose from several add-on covers.
Step 3: Select the Personal Belongings - Damage add-on cover.
Step 4: Pay the premium and the policy will be sent to your email account immediately.

Benefits:

Coverage towards the loss of your personal electronic equipment will add value to the standard comprehensive insurance plan. The add-on cover offers the following benefits:

Compensation for loss of your personal electronic equipment such as mobile phones, data, audio, video, photographic and other telecommunications gadgets.
Peace of mind knowing that loss of your electronic equipment is covered in case of theft or accident to your insured bike.
Safeguard your savings since the add-on pays for the loss of your personal electronic gadgets.

How to Claim Two-wheeler Insurance for Loss of Personal Electronic Equipment?

Registering a claim against your two-wheeler insurance policy towards the loss of your personal electronic equipment is easy if you follow the required guidelines. In the event of an accident, theft or burglary of your insured bike, ACKO will reimburse the amount specified in the add-on cover for the loss of personal electronic gadgets left inside the bike. Below are the steps to file a claim towards the loss of your personal belongings:

Step 1: Visit our website ACKO.com or our mobile application.
Step 2: Log in to your account and click on claims.
Step 3: File your claim by submitting the scan copies of the original invoice of the electronic gadget.
Step 4: ACKO will review your claim and reimburse the amount stated in the cover after considering the depreciation factor.

Two-wheeler Package Policy - Add-ons: Personal Belonging (Electronic Equipment)

Through the Personal Belonging - Electronic Equipment add-on cover, ACKO will pay the amount up to the sum insured stated in the cover towards the loss of personal electronic equipment of the policyholder left inside the vehicle. Also, you can buy the add-on cover along with the Stand-alone Own Damage Two-wheeler Policy.

Special Conditions

Benefits of the add-on cover are subject to the special conditions mentioned below:

The claim should be supported by a First Information Report (FIR).
You need to provide written proof of ownership of the personal electronic equipment.
The claim will be settled after deducting the depreciation of the personal belongings.

Exclusions

Below are the exclusions under the add-on cover:

Loss of stored data.
Damages caused due to the policyholder’s fault.
Loss or damages to the personal electronic gadgets carried in connection with any business or trade.
Any claim filed after 30 days of such loss.

Documents Required

Original invoice of the electronic gadgets.
Written proof of ownership of the personal belongings.
FIR filed with the local police.

Things to Keep in Mind While Filing a Claim:

In order to raise a successful claim under the Personal Belongings - Electronic Equipment add-on cover, you should consider the following points:

Intimate ACKO within 30 days of such a loss to avoid claim rejection.
The Personal Belongings - Electronic Equipment is an add-on cover to the comprehensive bike insurance.
Depreciation will be considered while settling the claim.

Frequently Asked Questions:

By purchasing the Personal Belongings - Electronic Equipment add-on will enhance the standard comprehensive bike insurance policy’s cover. Here are a few frequently asked questions about the add-on cover for your reference:

1) Can I buy the Personal Belongings - Electronic Equipment add-on cover from any of the insurance companies in India?

All insurers might not provide the add-on cover to protect your personal electronic gadgets in case of an accident, theft or burglary of the insured bike. ACKO offers this add-on with the standard Comprehensive Bike Insurance while buying or while renewing the policy.

2) What is the validity period of this add-on cover?

The validity of the add-on cover is for a period of 1-year. After which, you have the choice to buy it while renewing the bike insurance policy.

3) My mobile phone was inside my stolen bike. Does the add-on cover loss of my mobile phone?

Yes, ACKO will reimburse the amount of up to the sum insured specified in the add-on cover after deducting the applicable depreciation under this add-on cover.

4) Is an FIR mandatory to file a claim under this add-on?

Yes, FIR is mandatory to raise a claim under this add-on cover. You also need to provide a written acknowledgement that you are the owner of the lost electronic equipment.

5) Can I buy the add-on while I renew my Comprehensive Bike Insurance Policy?

Yes, you can include the add-on cover while renewing your existing comprehensive vehicle insurance for your bike.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions.