Personal Accident Cover (PA) In Two Wheeler Insurance Policy

A standard bike insurance coverage would cover damage to the vehicle, but what about you? A personal accident cover may be added to your existing bike insurance policy to protect you if you are injured. So, what is the definition of personal accident insurance? Give us a chance to explain.

Personal Accident Cover (PA) In Bike Insurance Policy

According to a report, India is the world's largest two-wheeler market. The domestic market accounts for around 85% of two-wheeler sales. When you buy a bike, you must also get bike insurance. Because a bike is just as dangerous as a car, bike insurance coverage might come in useful and give financial assistance in the event of an accident. You never know when you'll get in an accident, and because bikes are the most convenient and economical method of transportation for the middle class, they account for the majority of road accidents. This is where bike insurance comes in.

Personal Accident Insurance is Crucial

People in India are fully aware of the state of the roads and how horrible they are. When you're riding your bike through horrible traffic and people trying to get to their offices, you never know when you'll be involved in an accident that can do a lot of damage and result in serious injury. Let me give you an example: you're late for work and you're in a rush, so you decide to make up for lost time on the road by riding faster than normal. You come to a complete stop at a red light just before the zebra crossing and twist the throttle as soon as the light turns green, only to be hit by a car that failed to stop at the red light. You receive terrible damage to your leg as a result of the car's high speed, and you will be disabled for the rest of your life. Although the limb cannot be made as good as new, personal accident insurance can help you save a lot of money and give financial assistance for medical expenses. Personal accident insurance is critical for instances like these that occur unexpectedly.

What is Included in Personal Accident Insurance?

The IRDAI has set a Rs. 15 lakh coverage cap. A personal accident policy will compensate you in the event that you are injured, die, or become permanently disabled as a result of an accident. The insurance company will provide the policyholder with a certain proportion of the total sum. In the event of the policyholder's death unexpectedly, the firm will pay the whole Sum Insured to the nominee.

• If the policyholder loses two limbs, two eyes, or one limb or one eye, the policyholder will be compensated in full.
• If the policyholder loses sight in one eye or a limb, he or she will be compensated 50%.
• If you have a permanent complete handicap, you will get 100 percent of your compensation.

Take Away

When you buy a bike, make sure to get bike insurance coverage as soon as possible so you can take advantage of the policy's features. Although having insurance coverage is required, if you are found driving without one, you may face a large fine from the traffic cops. So, it's a good idea to be insured, and it's also a good idea to get an insurance policy online since you can learn more about the coverage, exclusions, perks, and other parts of the policy there, and it'll save you money because the insurance agent's charge will be waived. 

Also read - Consequences Of Not Transferring Bike Insurance For Used Bike

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.