As a biker owner, you take every care to ride safely and keep your vehicle parked safely too. However, sometimes, things are not completely in our control. In this situation, it helps to have the coverage of a good motor insurance policy. In India, all vehicle owners need to have at least third party vehicle insurance coverage. In addition to this, they also need to take personal accident insurance cover too. The personal accident insurance will cover you for any accidental injuries or even death. In this article, we will take a look at the coverage you can expect from a personal accident insurance cover in motor insurance.
What does the personal accident insurance cover do?
The personal accident cover offers compensation in case the insured individual suffers from accidental death, injury or any kind of disability due to an accident. The coverage also extends to any kind of hospitalization treatment or medications required as part of the treatment resulting from the accident.
If the insured individual dies in the accident, their nominee is paid the full value of the sum insured as part of compensation. If the insured individual suffers permanent disability, then a certain percentage of the sum insured is paid out. For example, if the insured individual suffers from loss of both limbs, they may get paid 100% of the sum insured. Whereas if they lose just one limb, they may get paid half or 50% of the sum insured.
Do read the brochure of the personal accident insurance cover to fully understand how much coverage is paid out for each kind of injury, ranging from total and permanent to temporary / partial disabilities.
How much coverage is required in the personal accident cover?
The IRDAI (Insurance Regulatory and Development Authority of India) has set a limit of Rs 15 lakhs for personal accident cover for motorists in the country. If you already have a personal accident insurance plan of such value, you do not need to buy a personal accident insurance cover with bike insurance.
Why is the personal accident cover so important?
As we all know, accidents can often happen when we are least prepared. A road accident that costs you a limb or an eye can leave you unable to work. This situation can be especially disastrous if you have a family to support. The payout from personal accident insurance will ensure that you can provide for your home even if something unfortunate happens to you. Under this insurance cover, you receive support for any treatment costs made necessary by your accident too. This way, you do not need to worry about depleting your hard-earned savings. You can have peace of mind knowing that your family members will have financial support even if you tragically pass away in an accident or are left permanently disabled due to a road mishap.
We hope that this article helped improve your understanding of the personal accident cover in bike insurance. Do keep your coverage renewed at all times so that you stay constantly protected against any mishap.
Wear a helmet and ride safely.
