Personal Accident Insurance Policy (Motor)
A Personal Accident Insurance Policy (Motor) is an insurance policy that provides financial protection to the owner/driver of a motor vehicle in case of accidental death or disability due to an accident while driving the insured vehicle.
PA compulsion in Motor Policy in India
As per the Motor Vehicles Act, 1988, every vehicle owner in India must have a third-party liability insurance policy covering the owner's legal liability towards third-party damages. However, Personal Accident coverage is not mandatory but is highly recommended for additional protection.
Is Motor Standard PA coverage sufficient
Motor Personal Accident coverage is not sufficient on its own as it only provides coverage for the driver/owner in case of an accident. Most insurers will allow you to expand the coverage by opting for add-on to also include passangers
Personal Accident Insurance Benefits
Accidental Death Benefit
In case of accidental death while driving the insured vehicle.
Permanent Total Disability Benefit
In case of permanent total disability due to an accident while driving the insured vehicle.
Permanent Partial Disability Benefit
In case of permanent partial disability due to an accident while driving the insured vehicle.
Temporary Total Disability Benefit
Weekly or monthly payment for a limited period in case of temporary total disability due to an accident while driving the insured vehicle.
Hospitalization Expenses
Reimbursement of hospitalization expenses incurred due to an accident while driving the insured vehicle.
Transportation Expenses
Reimbursement of transportation expenses incurred due to an accident while driving the insured vehicle.
Personal Accident Insurance Inclusions
Death or disability due to an accident while driving the insured vehicle.
Hospitalization Expenses.
Transportation Expenses.
Personal Accident Insurance Exclusions
Death or disability due to pre-existing conditions.
Death or disability due to intentional self-harm, suicide or attempted suicide.
Death or disability due to participation in hazardous activities or sports.
Death or disability due to driving under the influence of drugs or alcohol.
Death or disability due to non-compliance with traffic rules or driving without a valid license.
Death or disability due to war or terrorist activity.
Personal Accident Insurance Cost
The cost of a Personal Accident Insurance Policy (Motor) varies based on the coverage amount, driver's age, vehicle type, and other factors.
Pre-Conditions to Buy Personal Accident Insurance Policy
The driver should have a valid driving license.
The vehicle should be registered with the Regional Transport Office.
The vehicle should be roadworthy and in good condition.
The driver should not have any pre-existing medical conditions.
Documents Required for Personal Accident Insurance Policy Claim
- Documents Required for Personal Accident Insurance Policy Claim.
- Death certificate (in case of death).
- FIR copy (in case of accidental death or injury).
- Driving license and vehicle registration certificate (RC).
- Hospitalization and treatment-related bills and receipts.
- Medical certificates from a qualified medical practitioner.
- Intimation to the insurance company immediately after the accident.
