Road accidents account for a disproportionate number of deaths in India. Depending on how severe the injury is, a prolonged period of recovery may be required leading to loss of income and depletion of savings. Personal Accident Insurance Cover under a car insurance policy covers accidental injury and also permanent total or partial disability among other benefits.
Common accidents included by Personal Accident Car Insurance
– Any kind of road, aerial or rail accident
– Any kind of injury due to cylinder burst
– Injuries caused due to burning, drowning, poisoning etc.
– Injuries caused due to collision or fall
Scope of Personal Accident cover
Accidents have the potential to cause any of the three consequences such as:
– Temporary/Partial disability- In case of accidents causing temporary disabilities, a personal accident cover normally pays weekly compensation for the entire period of the disability. The maximum limit is 52 weeks.
– Permanent disability- The policyholders are generally insured in the event of a permanent total disability. In cases of permanent partial disability, a certain sum is calculated based on certain parameters by the insurance company.
– Accidental death- Some accidents, unfortunately, lead to death. In such tragic instances, the entire sum insured is paid to the legal nominees of the policyholder. However, this feature is available only if death occurs with 180 days of the accident.
The cover also offers a Children’s education benefit. In this cover, upto 2% of the payable amount is reserved for covering the education expenses of the insured’s children.
Advantages of having Personal Accident add-on covers
If you are the victim of a road accident, a Personal Accident cover gives you the following advantages:
– Accidental Hospitalisation cover
– Hospital Confinement cover
– Medical expense reimbursement
– Modification of residential accommodation and vehicle
Personal Accident Covers can help provide comprehensive relief from the financial impact of a road accident throughout the recovery and rehabilitation phase.
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