by Contributing Author
It’s crucial to understand the various coverage options available while purchasing a car insurance policy in India. One crucial aspect of car insurance is the personal accident cover, which provides financial protection in the event of an accident. In this article, let’s explore the details of personal accident cover in car insurance, its benefits, and what to consider when purchasing this coverage.
What is Personal Accident cover in car insurance?
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Personal accident cover is an add on coverage option that provides financial protection to the policyholder in the event of an accident. This coverage provides a lump sum payment in the event of death or disability, caused by an accident.
How does Personal Accident cover work?
Personal accident cover works by providing a lump sum payment to the policyholder or their nominee in the event of an accident. The coverage amount is typically fixed and is paid out in the event of:
- Death
- Permanent total disability
- Permanent partial disability
What are the Benefits of Personal Accident cover in India?
Personal Accident cover provides several benefits in India, that includes:
Financial support: Personal Accident cover provides financial protection to the policyholder or their nominees in the case of unforeseen events like an accidental death.
Lump sum payment: The coverage provides a lump sum payment in the event of death or disability caused by an accident while driving the car.
Increased coverage: Personal Accident cover can be purchased as an add-on cover to your comprehensive car insurance policy, increasing your overall coverage that ensures peace of mind for the policyholder.
What should you consider when purchasing personal accident coverage?
When purchasing personal accident cover, consider the following points:
Coverage amount: Choose a coverage amount that is sufficient to cover your financial obligations in the event of an accident.
Premium cost: Research about the personal accident cover and ensure you’re getting the best rate for your premium.
Policy terms and conditions: Carefully read the policy terms and conditions to understand what is covered and what is excluded in the personal accident cover.
Insurer’s reputation: Research the insurer’s reputation, customer service and claim settlement ratio to ensure you’re purchasing the personal accident cover from a reliable insurer.
The final note
Personal accident cover is an essential add-on cover option that provides financial protection to the policyholder or their nominees in the event of an accident. By understanding the benefits and what to consider when purchasing personal accident cover, you can ensure that you’re adequately protected in the event of an accident. So, don’t forget to add a personal accident cover with your car insurance for an extra layer of safety.
