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Everything You Need to Know About Car Insurance's Compulsory Personal Accident Coverage

Published On May 26, 2022 11:00 AM By InsuranceDekho

Here's everything you need to know about vehicle insurance's mandatory personal accident coverage.

If you don't already have one, you must get a Personal Accident Insurance Cover of Rs.15 lakh if you acquire a vehicle or bike insurance policy, according to the Insurance Regulatory and Development Authority of India (IRDAI). In the case of a motor vehicle accident resulting in disability or death, this coverage protects you against financial liabilities. Accidents can leave you permanently disabled, putting a tremendous financial and medical weight on your shoulders. When it comes to these charges, our personal accident coverage provides you peace of mind. Furthermore, the policy's nominee will be reimbursed in full in the event of death.

All You Need To Know About Compulsory Personal Accident Cover 

An insurance policy, whether it's for a car or for personal injury, protects you from financial and other personal damages. In a Motor Insurance policy, a personal accident policy cover is a benefit for the owner-driver. Whether you choose a Comprehensive Package or Third Party Liability Policy, it is a mandatory extension that must be obtained by the car owner under Motor Policy.

Coverage for Personal Accidents

Personal Collision (PA) Coverage in Car Insurance protects you from bodily harm or death as a consequence of a car accident. The coverage is provided in conjunction with automobile insurance, which works similarly to general insurance in that it pays out cash. Under Personal Accident Coverage, you can get the following benefits:

  • Total and Permanent Disability

You are entitled to the entire sum insured in the case of complete incapacity. This is paid to the insured as a result of a tragic event.

  • Unintentional Death

The whole insured money is paid to the insured individual's nominee in the unfortunate event of death.

Why Do You Need Personal Accident Insurance?

If you travel or work in a high-risk location, you should think about obtaining personal insurance to protect yourself in the case of an accident. Furthermore, you may find it difficult to make ends meet if you are unable to work due to an accident. A PA cover is a safety net for you and your family, protecting you and your loved ones in the case of financial misfortune. Personal accident insurance might be beneficial to everyone. 

Eligibility to File a Personal Injury Claim

The compensation under this insurance will be paid to the insured or his or her legal representatives directly. The owner-driver must meet the following standards in order to be covered:

  • The registered owner of the insured vehicle.
  • The designated insured on this insurance policy.
  • A person who has a valid driver's license, as specified by the Central Motor Vehicles Rules, Rule 3.

Personal Accident Insurance Add-Ons

You may benefit from the Add-ons in addition to your insurance coverage, which includes:

  • PA Coverage for Paid Drivers, Cleaners, and Conductors

If you pay an additional premium, the insurer agrees to compensate you for physical damage caused by the paid driver/conductor/cleaner who is hired by you, and the claim is for the insured vehicle.

  • Unidentified Passengers Other Than the Insured Person, Paid Driver, and Cleaner

If you pay an additional premium, the insurer agrees to cover compensation for bodily injuries suffered by passengers other than you and/or the hired driver/cleaner/person engaged.

Take Away

To summarize, whichever type of personal accident insurance you choose, make sure to thoroughly read all of the terms and conditions to avoid getting deceived by any hidden or misleading ones. Also, double-check that you are getting what you paid for before signing the contract. If you have any questions or concerns, call your insurance provider right away to inquire and explain so that you can get the best insurance plan possible.

Also read - Why Should You Purchase Long-Term Car Insurance?

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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