Does Personal Accident Insurance cover only road accidents?

Personal accident insurance is a type of insurance policy that provides financial protection in the event of an accident resulting in injury, disability or death. This type of insurance policy is designed to offer coverage for medical expenses, loss of income and other related expenses resulting from an accident.

Many people believe that personal accident insurance only covers road accidents. However, this is not entirely true. In this blog, we will discuss whether personal accident insurance covers only road accidents and what other types of accidents it covers.

What is Personal Accident Insurance?

Personal accident insurance is a type of insurance policy that provides coverage for accidental death or injury. The policyholder pays a premium to the insurer, and in return, the insurer pays a lumpsum of money if the policyholder is permanently disabled or dies due to an accident.

Personal accident insurance policies are designed to provide financial protection to the policyholder and their family in case of an accident.

What does Personal Accident Insurance cover?

Personal accident insurance covers a wide range of accidental injuries, including but not limited to:

Accidental death

If the policyholder dies due to an accident, the insurance policy pays a lump sum to the nominee or legal heir.

Medical expenses

Personal accident insurance covers medical expenses resulting from an accident. This includes hospitalisation, surgery and other medical expenses. (Subject to terms and conditions of the issued policy)

Loss of income

Temporary Total Disablement: If at any time during the period of insurance the insured person shall sustain Grievous injury arising solely and directly from an accident and resulting in hospitalization, then the insured person will be paid a sum calculated at 1% of the sum insured under Table C per completed week but not exceeding Rs.15,000/- per completed week, in all, under all Personal Accident policies, if such injury be the sole and direct cause of Temporary Total Disablement. This benefit is subject to a maximum period of 100 weeks from the date of such Temporary Total Disablement.

In no case shall the compensation exceed the sum insured for this benefit. The payment shall be made only after the termination of such disablement.

Ambulance Charges

In case of an accident, the policy covers towards ambulance charges for emergency treatment to go to the hospital in case of injury

Transportation Expenses of Mortal Remains

Death of the Insured Person due to an Accident, outside the place of his/her residence, the Company will pay 1% of the Total sum insured for the transport expenses to one relative of the Insured Person Provided such payment shall not exceed a sum of Rs.50,000/-. This amount is payable in addition to the sum insured.

Does personal accident insurance cover only road accidents?

No, personal accident insurance does not cover only road accidents. While road accidents are covered under personal accident insurance policies, they are not the only accidents covered. Personal accident insurance policies cover a wide range of accidental injuries, including:

Accidents at home: Personal accident insurance covers accidents that occur at home, such as falls, burns, and other accidents.

Accidents at work: Personal accident insurance covers accidents that occur at the workplace, such as slips, trips, and falls.

Accidents while traveling: Personal accident insurance covers accidents that occur while traveling, such as accidents during air travel, train travel, or water travel.

Accidents during sports: Personal accident insurance covers accidents that occur during sports, such as football, cricket, and other sports.

It is important to note that personal accident insurance policies have exclusions, which means that certain types of accidents are not covered. For example, accidents resulting from the policyholder’s participation in criminal activities, drug abuse or suicide attempts are not covered under personal accident insurance policies.

Accidents while participating in adventurous activities: Personal accident insurance  does not covers accidents that occur while participating in adventurous activities, such as trekking, mountaineering, and other activities.

Conclusion

While many people believe that personal accident insurance only covers road accidents, this is not entirely true. Personal accident insurance policies cover a wide range of accidental injuries, including accidents that occur at home, at work, while traveling, during sports and while participating in adventurous activities.

Therefore, it is important to carefully read the terms and conditions of the policy before purchasing personal accident insurance.