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Everything About Compulsory Personal Accident Cover In Car Insurance

Published On Dec 17, 2021 10:00 AM By InsuranceDekho

Here's what you should know about compulsory personal accident cover in car insurance policy

According to the Insurance Regulatory and Development Authority of India (IRDAI), if you buy a vehicle or bike insurance policy, you must obtain a Personal Accident Insurance Cover of Rs.15 lakh if you don't already have one. This coverage protects you against financial obligations in the event of a motor vehicle accident that results in disability or death. Accidents might leave you permanently incapacitated, leaving you with a significant financial and medical burden. This personal accident coverage gives you peace of mind when it comes to these costs. Furthermore, in the event of death, the policy's nominee will be compensated in full.

Everything About Compulsory Personal Accident Cover In Car Insurance

Personal Accident Insurance Coverage

Personal Accident (PA) Coverage in Car Insurance safeguards you against the possibility of physical injury or death as a result of an accident. The coverage is available in conjunction with car insurance, which is comparable to general insurance in that it provides cash compensation. The following coverage advantages are available under Personal Accident Coverage:

  • Permanent Total Disability

 In the event of total disability, you are entitled to the whole sum insured. Due to an unfortunate incidence, this is paid to the insured.

  • Accidental Death

In the sad event of death, the whole insured sum is paid to the insured individual's nominee.

Personal Accident Insurance: Why Do You Need It?

If you travel or work in a high-risk area, you may want to consider purchasing personal insurance in the event of an unexpected accident. Furthermore, if you are unable to work due to an injury, you may find it difficult to make ends meet. A PA cover is a safety net for you and your family, ensuring that you and your loved ones are protected in the event of financial hardship. Anyone could benefit from personal accident insurance coverage.

Eligibility for a Personal Accident Claim

This policy's compensation will be paid directly to the insured or his or her legal representatives. This coverage is contingent on the following requirements being met by the owner-driver:

  • The insured vehicle's registered owner.
  • This insurance policy's named insured.
  • A person who holds a valid driver's license as defined by Rule 3 of the Central Motor Vehicles Rules.

Add-Ons for Personal Accident Insurance

Aside from your insurance coverage, you may benefit from the Add-ons, which include:

  • Paid Drivers, Cleaners, and Conductors: PA Coverage:

The insurer agrees to provide compensation for physical damage caused by the paid driver/conductor/cleaner who is engaged by you and the claim is for the insured vehicle if you pay an additional premium.

  • PA Coverage for Unidentified Passengers Other Than the Insured Person, Paid Driver, and Cleaner:

The insurer agrees to provide compensation for physical injuries incurred by passengers other than you and/or the paid driver/cleaner/person engaged if you pay an extra premium.

Take Away

To summarise, whichever personal accident insurance you want to get, make sure to read through all of the terms and conditions carefully to prevent being duped by any hidden or deceptive ones. Also, before you sign the contract, double-check that you are getting what you paid for. If you have any doubts, contact your insurance provider immediately to ask and explain so that you can acquire the finest insurance plan. It is your obligation to be safe and provide for your family at home.

You may also like to read - Things to Know About Total Loss Car Insurance Claim Process

Why Should You Buy a Long-Term Car Insurance Policy?

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.

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