Personal Accident Cover in Bike Insurance

When you are on the road, there is always a risk of accidents. Even if you drive responsibly, factors like road conditions, extreme weather, mechanical breakdown of your vehicle, etc., can lead to accidents. In such cases, you run the risk of physical harm like bodily injuries, disabilities, and even death. To financially protect you in such scenarios, the government mandates the addition of a personal accident cover in bike insurance. Read ahead to learn more about it.

Coverage under Personal accident insurance in two-wheeler

The Insurance Regulatory and Development Authority of India (IRDAI) has set a limit of ₹1.5 lakhs on personal accident coverage. Under the IRDAI's mandate, Indian insurance companies provide insurance coverage in case policyholders sustain physical injuries or disabilities due to an accident within this ₹1.5 lakhs limit. As a policyholder, you can obtain coverage under various scenarios, including:

Accidental death:

If the accident results in the policyholder's death, the insurance company pays the entire sum insured to their dependent family members. With 100% compensation, the family members can financially support themselves. It especially proves helpful if the policyholder is the sole breadwinner of the family.

Disability:

In severe cases, accidents may lead to disabilities, including the loss of limbs, vision, hearing, etc. Insurers analyse this aspect while deciding the level of coverage. If you suffer from a total permanent disability, you get 100% compensation. The total disability may affect your entire body or specific parts. If two or more body parts like both the limbs or vision is affected, you get 100% compensation. But in the case of partial disability, meaning loss of vision in one eye or loss of one limb, the compensation is 50%.

Benefits of compulsory personal accident cover for 2-wheeler

Some of the key advantages of adding personal accident cover to bike insurance are as under:

Recovery of loss of income:

Being injured in an accident directly impacts your earning capacity. Whether it is a minor injury or disability, carrying out regular work becomes challenging. With the personal accident cover, you get the financial assistance to deal with the loss of income.

Family security:

If you are the sole earning member in your family, other members may depend on you for their livelihood. An accident may interfere with your ability to provide the same. Additionally, you have to bear the treatment expenses. The PA cover in bike insurance helps manage these expenses.

Emergency assistance:

Accidents most commonly lead to emergency hospitalisation. There is limited time to act. Insurers understand this and offer 24*7 claim assistance to help you fulfil the financial expenses pertaining to hospitalisation, ambulance, and other medical services.

Invest in bike insurance

You can buy the PA cover for a two-wheeler while purchasing insurance online. As it is a compulsory inclusion, it comes bundled with both third-party liability and a comprehensive plan. The detailed coverage information is available on the insurers' website. You must follow the necessary protocol like contacting your insurer, registering an FIR, and submitting the necessary documents while filing insurance claims. You can also customise your bike insurance policy with additional riders for comprehensive coverage.  

Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.