The AKKO Base Plans ($15/month for adults, $10 for students) includes $2,000 of coverage PER INCIDENT**. There are no annual coverage limits or a limit on the number of claims you may file.
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**$2,000 of coverage PER INCIDENT means that if next week on Monday your phone is stolen, up to the replacement value of your phone is covered as long as that amount is less than $2,000.

If at another point in the same year you drop your laptop and the screen is smashed, up to the repair or replacement value cost of the laptop is covered as well as long as it’s less than $2,000.

But, there is not an annual limit of $2,000 which would be exhausted in case replacing your phone cost $900 and replacing your laptop had cost $1,500.

This demonstrates PER INCIDENT coverage and the per incident limit with an AKKO Plan is $2,000. There is not an annual limit.

HOWEVER, if during a single incident someone steals your entire backpack, filled with your phone, and laptop, up to $2,000 total is covered to replace those items and any other contents of your backpack, plus the backpack itself. So if the combined replacement cost was above $2,000 for all these items, you would only have coverage up to $2,000.

Higher PER INCIDENT coverage limits are available! 

Once you’re registered, you can upgrade your coverage to a PER INCIDENT coverage limit as high as $10,000! But for a more common $3,000 – $5,000 PER INCIDENT coverage limit upgrade, it’s only a couple more dollars per month 🙂

The $2,000 of PER INCIDENT coverage is more than enough for the majority of users based on our studies and the claims rates of currently covered users nationwide. But for those with more expensive items like a high-end laptop, or specialty gear like photography or music/audio equipment, the option to upgrade your limit is easily available. Simply contact us via the “billing” section of your account and we can upgrade your coverage limit.

Feel free to Contact Us with any questions!

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Other Limitations:
1. Coverage for jewelry, watches, rings, and other items consisting of gold, silver, or platinum or furs is limited $1,000.00 for any one Loss.

2. Coverage for bicycles is limited to $1,000.00.

3. Property in a personally owned automobile is covered, provided that the vehicle was locked and windows are fully closed at the time of theft and there was visible evidence of forced entry into the vehicle.

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We re-state all this information under this separate Frequently Asked Question because sometimes users don’t click through all questions/answers and we want to make sure all prospective customers are fully informed 🙂

NOTE: All plans are per individual and will only cover items that the named individual on the policy owns. This means that if you file a claim, you must have proof of ownership of an item.

It is not a requirement to have receipts for the items you want to cover on your plan. While preferred, you can establish “proof of ownership” of your items through other means.

For example, the pictures we have you take of your items when you add them to your account work great for providing this “proof of ownership”!

Especially, for claims of accidental damage, copies of your purchase receipts are typically not requested.

For theft claims, the insurance company prefers to have you show a copy of your stolen items’ purchase receipts. This is the quickest way for them to establish that you did in fact “own” the items you’ve claimed have been stolen.

However, if you no longer have copies of your receipts, your photos of the items uploaded to your account can usually suffice. As a best practice, keep track of your receipts! Have copies emailed to you when you purchase items, or take pictures of receipts and email them to yourself or make a habit of immediately uploading them to your AKKO account.

You can also try to contact the original seller/retailer you purchased items from as often they will have records going back a year or two of past transactions. You can try providing your name, phone number, email, or credit card number to try and track down a receipt for something you purchased.

For items you purchased used or through a 3rd party marketplace platform such as Craigslist, eBay, Facebook Marketplace, or OfferUp, request an email be sent to you by a seller stating the date you purchased an item, the amount paid, and what the item was. This can suffice as a purchase receipt! Including if you paid for items in cash.

All coverage plans are backed by Allmerica Financial Benefit Insurance Company, a member of The Hanover Insurance Group (est. 1852).

This American insurance company has a long history of protecting the property of individuals from unforeseen damages and theft and has maintained an “A” (Excellent) rating from A.M Best Company for years. The Hanover Insurance Group is a $5 Billion U.S. publicly traded company and currently backs the coverage of over 400,000 people nationwide!

AKKO partners with the facilitator of this insurance coverage and provides added enhancements for our users that are unique to our platform as well as a simpler and faster process for being able to get your stuff covered and process claims.

If you have any questions about the coverage plan, feel free to contact us! We’re happy to help out 🙂

The AKKO Base Plans ($15/month for adults, $10 for students) includes $2,000 of coverage PER INCIDENT**. There are no annual coverage limits or a limit on the number of claims you may file.
—
**$2,000 of coverage PER INCIDENT means that if next week on Monday your phone is stolen, up to the replacement value of your phone is covered as long as that amount is less than $2,000.

If at another point in the same year you drop your laptop and the screen is smashed, up to the repair or replacement value cost of the laptop is covered as well as long as it’s less than $2,000.

But, there is not an annual limit of $2,000 which would be exhausted in case replacing your phone cost $900 and replacing your laptop had cost $1,500.

This demonstrates PER INCIDENT coverage and the per incident limit with an AKKO Plan is $2,000. There is not an annual limit.

HOWEVER, if during a single incident someone steals your entire backpack, filled with your phone, and laptop, up to $2,000 total is covered to replace those items and any other contents of your backpack, plus the backpack itself. So if the combined replacement cost was above $2,000 for all these items, you would only have coverage up to $2,000.

Higher PER INCIDENT coverage limits are available! 

Once you’re registered, you can upgrade your coverage to a PER INCIDENT coverage limit as high as $10,000! But for a more common $3,000 – $5,000 PER INCIDENT coverage limit upgrade, it’s only a couple more dollars per month 🙂

The $2,000 of PER INCIDENT coverage is more than enough for the majority of users based on our studies and the claims rates of currently covered users nationwide. But for those with more expensive items like a high-end laptop, or specialty gear like photography or music/audio equipment, the option to upgrade your limit is easily available. Simply contact us via the “billing” section of your account and we can upgrade your coverage limit.

Feel free to Contact Us with any questions!

—-
Other Limitations:
1. Coverage for jewelry, watches, rings, and other items consisting of gold, silver, or platinum or furs is limited $1,000.00 for any one Loss.

2. Coverage for bicycles is limited to $1,000.00.

3. Property in a personally owned automobile is covered, provided that the vehicle was locked and windows are fully closed at the time of theft and there was visible evidence of forced entry into the vehicle.

—

We re-state all this information under this separate Frequently Asked Question because sometimes users don’t click through all questions/answers and we want to make sure all prospective customers are fully informed 🙂

NOTE: All plans are per individual and will only cover items that the named individual on the policy owns. This means that if you file a claim, you must have proof of ownership of an item.

It is not a requirement to have receipts for the items you want to cover on your plan. While preferred, you can establish “proof of ownership” of your items through other means.

For example, the pictures we have you take of your items when you add them to your account work great for providing this “proof of ownership”!

Especially, for claims of accidental damage, copies of your purchase receipts are typically not requested.

For theft claims, the insurance company prefers to have you show a copy of your stolen items’ purchase receipts. This is the quickest way for them to establish that you did in fact “own” the items you’ve claimed have been stolen.

However, if you no longer have copies of your receipts, your photos of the items uploaded to your account can usually suffice. As a best practice, keep track of your receipts! Have copies emailed to you when you purchase items, or take pictures of receipts and email them to yourself or make a habit of immediately uploading them to your AKKO account.

You can also try to contact the original seller/retailer you purchased items from as often they will have records going back a year or two of past transactions. You can try providing your name, phone number, email, or credit card number to try and track down a receipt for something you purchased.

For items you purchased used or through a 3rd party marketplace platform such as Craigslist, eBay, Facebook Marketplace, or OfferUp, request an email be sent to you by a seller stating the date you purchased an item, the amount paid, and what the item was. This can suffice as a purchase receipt! Including if you paid for items in cash.

All coverage plans are backed by Allmerica Financial Benefit Insurance Company, a member of The Hanover Insurance Group (est. 1852).

This American insurance company has a long history of protecting the property of individuals from unforeseen damages and theft and has maintained an “A” (Excellent) rating from A.M Best Company for years. The Hanover Insurance Group is a $5 Billion U.S. publicly traded company and currently backs the coverage of over 400,000 people nationwide!

AKKO partners with the facilitator of this insurance coverage and provides added enhancements for our users that are unique to our platform as well as a simpler and faster process for being able to get your stuff covered and process claims.

If you have any questions about the coverage plan, feel free to contact us! We’re happy to help out 🙂