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Everything That You Need to Know About Personal Accident Cover of a Car Insurance Policy

Monday, September 10, 2018
By Dhirendra Mahyavanshi

Dhirendra Mahyavanshi, Cofounder, Turtlemint

When you set out in your car for a drive, there are a lot of things that you need to take care of, to avoid any unfortunate events. And given the fact that a lot of Indians do not follow proper traffic rules, the possibility of issues on the road increases by several folds. It is very common that accidents occur without any fault of the driver as someone else is not following the rules. Accidents, for whatever reason, are a problem for all parties involved and their families.  

Different governments have tried their best to bring in stricter rules and norms when it comes to road safety. But we are still some time away from getting any concrete results. Till that time, keeping your car insured is the easiest way to handle such situations. Sure, a car insurance cannot bring back the life of a person, but it can surely help you repay for the damage repair, which in itself is a big expense these days.

Accident Cover is Mandatory
A lot of people do careless and rash driving on the road. To ensure that there are minimum casualties as a result of it, the Motor Vehicles Act, 1988 mandates car owners to buy a valid car insurance for their vehicles. In the event that they are driving without an insurance, they can be penalized. It is illegal in India to drive a vehicle without a third-party insurance.  

According to the Act, third-party coverage is the least insurance coverage that one must have. But it being the bare bones policy, it is recommended to add a personal accident cover to it.

Benefits of Accident Cover Policies
Personal accident cover is an add on that one must take when buying an insurance policy for their car. Should you opt for an accident cover, you can enjoy the following benefits:

  • For any accidental death on the scene, an insurance of 100%.
  • In case of permanent total disability (example: losing limbs, eyes etc.) the sum assured ranges between 50%-100%.
  • For permanent partial disability (example: losing one eye or limb) the sum assured ranges between 5%-70%.
  • It also offers compensation up to INR 7,50,000 for any damages to a third-party property.

Benefits of Adding Personal Accident Cover To Your Policy:
It is quite common these days for insurers to offer personal accident cover along with a third-party insurance. The personal accident cover is applicable to the owner of the vehicle who should also be the primary driver. This might increase the cost of the car premium but ensures that any claims related to an accident caused while driving the car are well taken care of.

Here are a few conditions that one must keep in mind during the claims.

  • The registered owner of the car in question must also be the driver during the accident.
  • The driver of the car should have a valid driving license.
  • The driver’s ownership should be by his name.

Paid Driver’s Compensation
If you plan to use a paid driver, the Legal Liability cover add-on would be the ideal choice. The cover compensates a paid driver under the Workmen’s Compensation Act of 1923. And this would set you back by a nominal fee of INR 50. In the unfortunate event of an accident, the insurer will compensate for partial or permanent disabilities or even accidental death.

Family Member’s Compensation
For such cases, you can opt for an add-on called accident cover for passengers. The vehicle owner must pay for the premium and in turn get a coverage for any passengers travelling in the car. And the best part is, that these benefits are not limited only to family members.

If you wish to get this cover, you must opt for a comprehensive insurance plan from your insurer, which comes with a personal accident cover and host of other benefits.

The above-mentioned points are some of the personal accident covers that one can have access to. To ensure maximum coverage, go ahead and add them to your existing policy to ensure you have complete security which will also help you to drive with complete peace of mind.

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