5 Reasons Why Every Road Tripper Must Get a Personal Accident Insurance

by Arjun Dikshit

Are you all set for an amazing road trip? Here’s your basic checklist:

  • Destination for Road Trip
  • Vehicle Condition & Tune Up
  • Cash, Debit Card & Credit Card
  • Emergency Ration for the Trip
  • Personal Accident Insurance

Well, don’t even think about turning that key and setting out for your road trip unless you have a Personal Accident Insurance. It should not only be for yourself, but for all the people travelling in your vehicle with you. Whether you are a first timer or a regular roadster, an accident can cripple you and ruin your family‘s future along with those travelling with you.

What is a Personal Accident Insurance?

A Personal Accident Insurance offers complete coverage against accidental death and disablement. Disablements could be temporary total disablement, permanent partial disablement or permanent total disablement.

You can get a Personal Accident Insurance from all the general insurance companies operating in India. The sum assured offered varies from insurer to insurer. It is also available mandatorily with a comprehensive and third party motor insurance but the sum assured is just Rs 1 lakh. One should ideally buy a cover of at least 10 times their annual salary.

It is an important step in completing and strengthening your protection equation. Here are the 5 main reasons on why it should be a part of your insurance portfolio:

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Accidents are not Predictable

Personal Accident Insurance

 We all know that Life is totally unpredictable, so are accidents. In fact, accidents always tend to happen when you least expect them. So, have you ever considered what would happen if you meet with an accident on your way back home? The thought itself can send a chill down your spine, isn’t it? The worst thing would be watching your family struggle to make ends meet if anything happens to you and at the same time pay for your treatment expenses as well. Thus, it becomes imperative to get yourself covered with a holistic protection solution. A Personal Accident Insurance in your portfolio will provide a sense of security that the cash payouts can be used to cover bills and debts without burdening your family.

Lifestyle Protection

You work hard and strive to create a comfortable life for your loved ones. On the other hand, inflation also works round the clock against you. It can make saving money a lot more difficult and a single emergency can wipe off your hard-earned savings.

Rising treatment costs, huge hospital fees and expenses associated with medication, therapy and other related items can push you and your family into a debt trap. Things can further turn worse, if an accident leaves you bed ridden. A personal accident insurance plan can help you and your loved ones maintain their standard of living without breaking a sweat.

Disability Cover

Disability Cover

A personal accident insurance covers not only accidental death, but also disability arising out of an accident. The nature of disability could be partial disability or complete disability. This plan provides coverage against both. For example, you met with an accident and lost both your legs, the insurance company will pay you for your disability. In case of death due to an accident, your family gets the money. Personal accident insurance also provides for your expenditure on the treatments if you have added the required add-ons to the base plan.

These add-ons also provide financial help in case of temporary disability. Say, if you have met with an accident and have a fracture in your arm and now you cannot work for 2 months. In such a scenario, if you have added a daily benefit add-on, then the insurance company will pay you a fixed amount for the entire duration of 2 months. The amount of daily allowance or hospital allowance varies from insurer to insurer and depends upon the specific policy coverage offered.

Nominal Premiums for Income Replacement

The statement, “Big Things come in Small Packages” is the apt way of describing a Personal Accident Insurance. The premiums for these plans are very low, you can even say they are rock bottom. The premium for a sum assured of Rs 5 lakh cover, will cost you only Rs 250 for death, partial and total disability coverage. This amount would obviously be lower than your weekend meal cost. This makes a higher sum assured cover pocket-friendly and an obvious choice that will act as an income replacement for the next few years in the event of your death or disability.

Simple Claim Process

Making a claim is also very easy and simple under personal accident insurance. All you have to do is provide the insurer with basic information such as policy number, contact details, the location of accident, date and time of the accident and a brief description of the accident within the specified time frame as mentioned in the policy.  The insurer will also ask for Police Panchnama/FIR/ Post-mortem report/ Death certificate/Disability Certificate from treating Doctor to determine the extent of disablement. And a Leave Certificate from the employer is required for a total temporary disability case.

On successful submission of the required documents, the insurer scrutinizes the same and the claim amount is paid out.

Cutting the Long Story Short

So, even if you have a Term Insurance Plan to protect your family financially in the event of death and a Health Insurance Plan to cover your hospitalization expenses, you should take a Personal Accident Insurance cover too. It will protect you against death, permanent or partial disability along with hospitalization expenses and daily cash allowance with the help of the appropriate add-ons. The bonus point here is that a Personal Accident Insurance is renewable for life.

So what are you waiting for, log on to Coverfox and get yourself covered to complete the golden triangle of protection. With a relaxed mind, you can now truly enjoy the road trip to your heart’s content.

Once you are ready with insurance go through the car checklist and travel checklist to be sure of your safety. Next is to pack the essentials properly for your road trip.  Now you are all set for your trip. Go ahead check out our road trip packages.

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