Current location:
Kapil was happily driving across his neighbourhood to pick up his one-year-old son from school when an errant truck appeared out of nowhere forcing him to swerve his car into the service lane. In the process, he crashed into a pole and suffered severe injuries. Thankfully, Mr Kapil had a personal accident cover (PA cover) which compensated him for his injury.
Considering that an accident occurs in our country every one minute, (Ministry of Road Transport and Highways Report 2011) any of us could be in the shoes of Mr Kapil. But are we prepared?
The PA cover is a good protection measure to take; the insurance antidote for accidents. As a legal rule, car insurance covers include a PA cover to compensate for the bodily injury or death of the owner-driver. This cover ranges from Rs One lakh for a two wheeler rider to Rs Two lakh for a four wheeler motorist. The compensation given varies on the nature of disability. Partial physical loss entitles you to 50 per cent payment while total disability entitles you to a complete payment. In case you are the owner-cum-driver of the vehicle, damage to your person is compulsorily covered under the car insurance you purchase.
However, there are many other PA covers that you can opt for, to extend financial safety to others. For instance, when you purchase car insurance from some online insurance providers, you can ensure the safety of those travelling with you by paying an additional amount of Rs 5 per 10,000. The maximum number of co-passengers you can cover under this provision is determined by the seating capacity of your vehicle. PA covers can also be availed for paid drivers and employees via an additional premium. One important thing to keep in mind however is that PA covers must be claimed within six months of the accident.
While on one hand, staying alert will help avoid accidents, opting for personal accident covers will ensure you peace of mind in the event of any mishap.
