Personal Accident Cover in Car Insurance

A personal accident car insurance cover or a PA cover is an add-on that safeguards you against the risk of accidental injury or death in a road accident. In the event of an unfortunate mishap, the cover offers compensation to financially secure you against medical care expenses. As an owner-driver, it is compulsory to opt for a personal accident cover irrespective of the type of car insurance coverage you purchase.

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Personal Accident Cover in Car Insurance | Bajaj MARKETS

Compulsory Personal Accident Cover in Car Insurance - Explained

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Personal Accident Cover in Car Insurance

A personal accident car insurance cover or a PA cover is an add-on that safeguards you against the risk of accidental injury or death in a road accident. In the event of an unfortunate mishap, the cover offers compensation to financially secure you against medical care expenses. As an owner-driver, it is compulsory to opt for a personal accident cover irrespective of the type of car insurance coverage you purchase.

Why Should You Buy Personal Accident Insurance?

One of the biggest reasons for you to get a personal accident cover in car insurance is your safety. We make sure to insure any damage to our car but are quick to neglect the possibility of injuries incurred to the person. A compulsory personal accident cover will ensure that your medical treatment costs in the case of an accident are already accounted for, ensuring you get the swiftest treatment in the unfortunate event that you require it.

 

Benefits of Personal Accident Cover for Owner-Driver

The personal accident cover is the best option when it comes to protecting yourself financially against accidental injuries. Here are a few benefits of the personal accident cover:

  • In case you meet with an accident while driving your insured four-wheeler, this cover will offer financial assistance to help you pay the medical bills. 

  • The PA cover also offers coverage against permanent disability caused by an accident from your insured car.

  • It also offers financial aid for the surviving members of the policyholder in case of death due to an accident.

 

Personal Accident Compensation for Owner-Driver

According to the guidelines issued by the Insurance Regulatory and Development Authority of India, all car owners are provided with the PA cover of ₹15 Lakhs. IRDAI fixed this coverage amount on the basis of a Madras High Court order in September 2018.

 

Personal Accident Cover Premium 

The premium amount for the personal accident cover is ₹750. This amount has been fixed by IRDAI under bundled car insurance plans. Motor insurance companies have the liberty to decide the premium for an unbundled or standalone PA cover. It means, the cost of standalone personal accident cover can be higher. Hence, it is best to opt for a bundled car insurance policy and save up on premiums.

 

Latest Changes in Personal Accident Cover

One inconvenience faced by customers looking to get their compulsory PA cover for a second or third vehicle was the redundant requirement of having to purchase a new personal accident cover for the driver every time they upgraded their vehicle. This simply increases costs for consumers, given that a personal accident cover only has to be purchased along with car insurance. With the new rules, however, purchasing one compulsory PA cover is enough, and can last you through multiple vehicles, as it has been unbundled from the compulsory car insurance plan. 

Here are some other changes in the latest amendments:

 

  • The sum insured has been raised from ₹1 Lakh for two-wheelers and ₹2 Lakhs for cars, to ₹15 Lakhs.

  • Compulsory PA cover is not offered to companies/organisations. Therefore, if you use a company-owned vehicle, you do not have to spend on the personal accident cover.

  • The premium for PA cover for owner drivers has been fixed at ₹331, minus GST.

 

Summing it up!

Having a compulsory PA cover is essential for all vehicle owners and operators. Now, with it being unbundled from car insurance, there is no reason for you to not purchase the compulsory personal accident cover for owner driver given that it is a one-time purchase with unchanged premiums for the entirety of the policy term. 

 

You can simply purchase one personal accident cover, which can last you through multiple vehicles, as it is a policy with the possibility of lifetime coverage. Despite this leniency in the rules in order to make the process more convenient, we must remember that having a compulsory PA cover is in the best interest of our health and well being. So, what are you waiting for? Bajaj MARKETS has a choice of car insurance plans offering personal accident cover. Check them out right away!

 

FAQs on Personal Accident Cover in Car Insurance

  • ✔️What is a personal accident cover in car insurance?

    Personal accident cover is an add-on that offers financial coverage against accidental injuries, disabilities and the death of the insured.

  • ✔️What is not covered under personal accident cover in car insurance?

    Personal accident cover in car insurance does not cover the following aspects:

    • Any accident caused due to adventure sports

    • Mishaps due to war or conflict

    • Death of the policyholder due to an ailment

    • Accidents caused under the influence of drugs or alcohol

    • Self-injury or suicide

  • ✔️Does comprehensive car insurance offer a personal accident cover?

    Yes. A comprehensive car insurance plan offers a personal accident cover.

  • ✔️Is personal accident cover necessary for car insurance?

    Yes. It is mandatory for all owner-drivers to opt for a personal accident cover in car insurance.