Question: What is personal accident cover in vehicle insurance?

What is personal accident cover in car insurance?

A personal accident or PA cover is a facility offered by motor insurance providers to the owner-driver of a car that protects him against any accidental injuries. It provides compensation in case the owner-driver of the car suffered from bodily injuries, permanent disability or death following the car accident.

What is the purpose of personal accident insurance?

Having Personal Accident & Illness (PA) insurance covers you for loss of income if you were unable to work as a result of an injury or illness. The cover is generally available regardless of whether or not you sustain injury or develop an illness due to your work.

Which expenses can be claimed under personal accident cover?

Major Inclusions and Exclusions of Personal Accident Insurance Plan

Inclusions Exclusions
Accidental death Natural death
Permanent total/ partial disability Pre-existing disability or injury
Accidental dismemberment Childbirth or pregnancy
Medical expenses/ hospitalization charges Suicide or self-injuries

Does comprehensive insurance cover personal accident?

According to the India Motor Tariff, 2002, a compulsory personal accident cover has to be part of the motor insurance policy. This cover is applicable in both cases: if a person buys only a third-party policy or a comprehensive policy which has both third-party and own-damage covers.

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What is the first party insurance?

First Party – In an insurance contract, the first party refers to the person who buys the insurance. Thus, the car owner is referred to as the first party in a car insurance policy. It is the first party who pays an insurance premium and makes a claim to receive benefits or compensation under the car insurance policy.

Which is not covered in personal accident?

The below-mentioned causes of injury or death are not covered under a group personal accident insurance: … Death or injury while engaged in an adventure sport or hazardous activity. Any pre-existing condition and disability or accident arising out of it. Consequential loss of any kind and legal liability.

Should I take personal accident insurance?

Personal accident schemes cover the policyholder against death or disability due to an accident. … However, you should buy a personal accident policy because it plugs an important hole in your insurance portfolio. Firstly, it will provide financial support to the policyholder if he is disabled after an accident.

What type of insurance is personal accident?

What is personal accident cover? Personal accident insurance, also known as personal injury insurance, is designed to pay out compensation if you suffer from a serious injury or death as the result of an accident. It can protect you and your family against loss of income, and help them with bills and other expenses.

What is accident and injury insurance?

Accident insurance, also called accident expense or accidental death insurance, gives you cash if you get injured or die from an accident covered by your policy. It pays a benefit directly to you (or your beneficiaries in case of death) for injuries resulting from a covered accident.

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What is personal accident premium?

A personal accident policy is a type of insurance policy that offers you protection against death or disability caused due to an accident. In case of death due to an accident, the policy pays out a lump sum amount to the nominee of the policyholder.