There is no guarantee of safety on the road, and many factors can result in irreparable damages at the time of this kind of unfortunate event. WHO states that India barely abides and follows its traffic and road safety rules, which leads to irresponsible driving.
We might not know once the rules will end up stricter in this country, but we all do realize that the advantages of keeping our vehicles insured works well for lowering the unexpected expenses. While accident covers for cars are not going to bring someone's life back, they can definitely help repair the damaged car that faced the unfortunate mishap.
Accident Covers are obligatory
To compensate the losses of careless driving on the roads, the Indian government formulated the Cars Act, 1988, that makes it essential for any vehicle owner to possess a 'third party insurance'. Any vehicle owner without an insurance would be penalized inside a court of law.
Third-party coverage for vehicles make sure that any damage made to the vehicle is likely for a claim. Consider it provides basic coverage it is advisable to strengthen the insurance policy with a personal accident cover.
Compensation provided by accident covers:
Accident covers provide benefits of which some are mentioned below:
- Insurance of 100% sum when there is an accidental death at the scene.
- 50% to 100% sum insured in the event of a permanent total disability
- 5% to 70% compensation when the person is permanent partial disability
- In case of third party damages to some property, there is a compensation of up to Rs. 7.5 lakh.
Compensation provided in policy with personal accident as add-ons:
Often, personal accident covers are joined with third-part insurance schemes to pay the owner who's also the primary driver from the vehicle. This can cost you a bit and is liable for claims through the insurer when the driver owner meets an accident while driving their own car.
For making any claims, there are several conditions into it, which are:
- The driver will need an authorized ownership from the insured car.
- The driver's ownership must be in his name.
- The driver should have a legitimate driving license.
Compensation for any paid driver:
In this case, accident cover provides an add-on referred to as Legal Liability, provided underneath the Workmen's Compensation Act, 1923, that compensates any claims made for a paid driver as well. This just costs RS. 50 that has to be paid through the owner of the vehicle. In the event of any injury inflicted towards the paid driver while driving the owner's car, the insurance company will cover the expense of partial or permanent injuries or accidental death.
Compensation for family members:
With an additional coverage option known as accident cover passengers , the vehicle owner could possibly get benefits for any passenger driving the vehicle, not limited to just the members of the family.
Such add-on coverage can be acquired from the insurer through a Car insurance policy that covers personal accident policy along with other schemes by using it.
These were some of the basic personal accident covers available in India. Be sure to add one to your insurance plan in the future in handy when it's needed probably the most.
