All You Need To Know About Personal Accident Cover In Bike Insurance
Published On Aug 03, 2021, Updated On Aug 06, 2021
Read this article to find out everything you need to know about the personal accident cover for your bike insurance policy.
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Accidents are traumatic experiences. It might be quite aggravating, especially if your treasured bike has been destroyed. A bike insurance coverage can certainly aid you in settling repair and third-party damage expenses. It is important, however, that you choose a policy that includes this protection. This article will explain what personal accident coverage is and why it's important to have it as part of your bike insurance policy.
Coverage Offered By Personal Accident Cover For Bike Insurance
Most insurance firms provide additional services when you get bike insurance. These services are available as add-ons to your normal bike insurance policy or as coverage. These plans have their own dynamic characteristics that give additional coverage to the policyholder. You can combine a few insurance plans to provide comprehensive coverage. One such insurance coverage is Personal Accident Cover, which provides financial support to the owner in the case of an accident. In the case of a physical injury, your insurance provider will repay you for the cost of fixing your bike or paying your medical costs if you pick this policy.
Personal accident protection will give financial help if the policyholder is involved in an accident and suffers damage to the bike or, in rare circumstances, bodily harm. The PA protection will cover the expenses of restoring any damage to the bike as a result of an accident. In the case of the policyholder's permanent handicap or untimely death, it will give 100 per cent reimbursement. However, if you did not observe traffic regulations at the time of the collision, your claim under personal accident insurance will be denied. If it is determined that the damage was done on purpose, the insurance will refuse your claim.
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What Is The Significance of A PA Cover In Bike Insurance?
It may appear that regular bike insurance coverage is sufficient. Other scenarios, however, that are not covered by these policies must be considered. While comprehensive bike insurance coverage may cover the cost of repairs to your bike, it does not cover collision-related losses. As a consequence, obtaining personal accident insurance will help you by giving financial support to cover the costs of paying medical bills or repairing your bike if you are involved in an accident. Some of the reasons why you should acquire PA protection for your bike insurance policy are as follows -
Personal Accident Insurance Is Mandatory
In addition to third-party bike insurance, the Indian Motor Vehicle Act requires all bike owners to carry personal accident insurance. If you are stopped by the police and your bike insurance policy does not include PA coverage, you might risk hefty penalties or possibly jail.
Provides Financial Support
Accidents may be excruciatingly painful. Being involved in an accident may be both aggravating and exhausting. Obtaining funding in this scenario may be nerve-wracking and difficult. If you have a PA cover on your bike insurance, your insurance provider will help you financially by covering the amount you'll need to spend on bike insurance repairs or medical costs if you are hurt.
Financial Compensation In Case of Death
Some major collisions can result in fatalities, such as the death of a passenger or the policyholder. In such circumstances, the insurance company will pay the full amount of compensation to the policy's nominee. The coverage will cover the family's financial requirements if there is no income.
Your regular insurance coverage is supplemented with insurance covers. However, including them in your bike insurance policy will increase the cost. As a result, make sure to get the covers that you feel are absolutely essential to completely protect your bike.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.