India, the world’s largest two-wheeler market, sold 88% of the 19.91 million two-wheelers domestically in FY17. Two-wheeler sales are expected to rise with a growing middle class and favourable demographics. However, India already faces significant road safety challenges, with 464,910 accidents and 147,913 fatalities in 2017, with two-wheelers accounting for 33.9% of accidents.
These statistics highlight the risks of riding a two-wheeler on Indian roads. Two-wheeler insurance is essential to safeguard yourself and your family during your daily commute. It includes a personal accident policy as an add-on, offering protection in case of accidental injury or passing away.
When considering the importance of personal accident coverage with two-wheeler insurance, it’s crucial to remember that many third-party bike insurance policies offer limited coverage for injuries to you and other involved parties in the event of an accident. Claims are subject to terms and conditions set forth under the motor insurance policy.
What Is Two Wheeler Personal Accident Coverage?
A personal accident cover is two-wheeler insurance that benefits the car’s owner or any dependents in the event of an unintentional injury or passing away. For the pillion rider, there is also an optional personal accident policy.
Many insurance companies offer two-wheeler personal accident coverage as an add-on to their bike insurance. The insurance can be purchased for a nominal premium and is designed to improve protection in the event of an accident. Claims are subject to terms and conditions set forth under the motor insurance policy.
Advantages Of Having Personal Accident Insurance
These are a few advantages that this coverage may offer.
Disability Benefits: Two-wheelers pose inherent risks as riders lack a protective barrier from the road and other vehicles. While minor injuries are common, serious accidents can result in partial or complete disability. *
Disability can significantly affect one’s ability to support their family, impacting their well-being. Two-wheeler insurance with personal accident coverage provides up to 100% of the sum insured for total disability and up to 50% for partial disability, offering essential financial support.
Accidental Death Benefit: The loss and hardship to the insured’s family may be significant in an accident that claims their lives. If the insured is the leading provider, they have lost their loved one and employer. *
In the event of an accidental passing away, the personal accident insurance pays out 100% of the total insured. This sum can shield the household from financial obligations and assist the dependents in getting through their loss. Claims are subject to terms and conditions set forth under the motor insurance policy.
Exclusions
The insured must meet specific requirements to qualify for the benefits of the vehicle insurance policy, including having a current driver’s licence and being the vehicle’s registered owner. The insurance company may also refuse to pay out in certain circumstances; these are called exclusions.
- If a suicide attempt or deliberate self-harm caused the harm or passing away.
- If the harm or demise occurred while under the influence of drugs or alcohol.
- If committing a crime is what led to the harm or passing away.
Renewing bike insurance is a crucial aspect of ensuring your two-wheeler is adequately protected, especially when considering the importance of personal accident cover in your policy.
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
