What Is Personal Accident Cover In Bike Insurance?

A passionate advocate for justice and fair compensation, Richard Norris founded ClaimSettlementPros to create a trusted platform that simplifies and demystifies the claim settlement process....Read more

Have you ever wondered what would happen if you were in an accident while riding your bike? Would you be able to cover the medical expenses? This is where personal accident cover in bike insurance comes in. It provides financial protection in case of bodily injury or death due to an accident while riding your bike.

Personal accident cover is an additional benefit that can be added to your bike insurance policy at a minimal cost. It can cover medical expenses, hospitalization costs, and even provide a lump sum amount in case of permanent disability or death. It is a crucial aspect of bike insurance that every rider should consider to protect themselves and their loved ones in case of an unfortunate accident.

Personal Accident Cover in Bike Insurance is an optional add-on that provides financial compensation to the policyholder in case of accidental death or disability due to a bike accident. This cover can be included in your bike insurance policy by paying an additional premium. The amount of compensation depends on the severity of the injury or the nature of the accident. It is recommended to opt for Personal Accident Cover as it provides financial security to you and your family in case of an unfortunate event.

What is Personal Accident Cover in Bike Insurance?

Understanding Personal Accident Cover in Bike Insurance

Riding a bike is a thrilling experience, but it also comes with its share of risks. Accidents on the road can cause serious injuries or even death. To protect yourself from financial loss due to such unforeseen events, you need personal accident cover in your bike insurance policy. In this article, we will discuss what personal accident cover is, its benefits, and how it works.

What is Personal Accident Cover in Bike Insurance?

Personal accident cover is an add-on cover that you can opt for in your bike insurance policy. It provides financial aid in case of accidental injuries or death while riding your bike. This cover is designed to provide you with financial support in case of any unfortunate event.

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The personal accident cover provides compensation to you or your family members in case of accidental injuries or death due to a bike accident. The cover extends to the insured person, pillion rider, and the co-passenger.

Benefits of Personal Accident Cover in Bike Insurance

The personal accident cover in bike insurance comes with a host of benefits. Here are some of the benefits:

  1. Death benefit: In case of accidental death, the nominee will receive the sum insured amount as compensation.
  2. Permanent disability benefit: If the insured suffers from permanent disability due to an accident, the sum insured amount will be paid to the insured.
  3. Temporary total disability benefit: If the insured suffers from temporary total disability due to an accident, a weekly compensation amount will be paid for a maximum of 104 weeks.
  4. Medical expenses: The policy covers the medical expenses incurred by the insured person in case of an accident.

How Personal Accident Cover Works in Bike Insurance?

The personal accident cover works on a reimbursement basis. In case of an accident, the insured should inform the insurance company immediately and file a claim. The claim form should be duly filled and submitted along with the required documents.

The documents required for the claim process are:

  • Copy of the FIR
  • Medical certificate
  • Policy details
  • Driving license
  • Vehicle registration certificate

Once the claim is approved, the insurance company will pay the sum insured amount as per the policy terms and conditions.

Personal Accident Cover Vs Third Party Liability Cover

Personal accident cover and third-party liability cover are two different add-on covers in bike insurance. While personal accident cover provides financial support in case of accidental injuries or death, third-party liability cover provides coverage for damages caused to third-party property or person.

In case of an accident, the third-party liability cover pays for the damages caused by the insured to third-party property or person. On the other hand, personal accident cover provides compensation to the insured or the nominee in case of accidental injuries or death.

Conclusion

Personal accident cover is an essential add-on cover that you should opt for in your bike insurance policy. It provides financial support in case of accidental injuries or death while riding your bike. The cover comes with a host of benefits, including death benefit, permanent disability benefit, temporary total disability benefit, and medical expenses coverage. Make sure you choose the right personal accident cover as per your requirements and stay financially protected.

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Frequently Asked Questions

Here are some common questions related to Personal Accident Cover in Bike Insurance:

What is covered under Personal Accident Cover in Bike Insurance?

Personal Accident Cover in Bike Insurance offers financial assistance in case of bodily injuries or death of the policyholder due to an accident. The cover provides compensation to the policyholder or their nominee in case of permanent disablement or death caused by the accident. The compensation amount varies depending on the severity of the injury or death.

The cover also includes ambulance charges and hospitalization expenses incurred by the policyholder due to the accident. Some insurance companies also provide additional benefits like daily hospital cash allowance and coverage for the cost of transportation of the policyholder’s mortal remains in case of death.

Who can avail Personal Accident Cover in Bike Insurance?

Personal Accident Cover in Bike Insurance can be availed by the policyholder who has purchased a two-wheeler insurance policy. The cover is available to individuals aged between 18 to 70 years. The policyholder can opt for the cover at the time of purchasing the insurance policy or during the policy renewal.

The cover can also be extended to pillion riders by paying an additional premium. However, the cover amount for pillion riders is usually lower than that of the policyholder.

Is Personal Accident Cover in Bike Insurance mandatory?

No, Personal Accident Cover in Bike Insurance is not mandatory as per the Indian Motor Tariff. However, it is recommended to opt for the cover as it provides financial assistance in case of accidental death or disability. The cover also offers peace of mind to the policyholder and their family members in case of an unfortunate event.

Moreover, some insurance companies offer Personal Accident Cover as a default add-on in their comprehensive two-wheeler insurance policy. Therefore, it is important to read the policy document carefully before purchasing the insurance policy.

How is the premium for Personal Accident Cover in Bike Insurance calculated?

The premium for Personal Accident Cover in Bike Insurance depends on various factors like the age of the policyholder, the coverage amount, and the duration of the policy. The premium for the cover is usually a small amount and can be added to the total premium of the two-wheeler insurance policy.

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The premium for the cover increases with the increase in the coverage amount. Therefore, it is important to choose the coverage amount wisely based on the policyholder’s requirements and budget.

How to claim the Personal Accident Cover in Bike Insurance?

In case of an accident, the policyholder or their nominee can claim the Personal Accident Cover by informing the insurance company immediately. The claim can be made by filling the claim form and submitting it along with the necessary documents like the medical certificate, FIR copy, and the policy document.

The insurance company will investigate the claim and determine the compensation amount based on the severity of the injury or death. The compensation amount will be paid to the policyholder or their nominee directly by the insurance company.

In conclusion, personal accident cover in bike insurance is an essential add-on that guarantees financial security for the policyholder in the event of an accident. This cover provides compensation for medical expenses, disability, and even death resulting from an accident while riding the insured bike. It is important to note that this cover can be customized to cater to the specific needs of the policyholder.

With the increasing number of accidents involving bikes, it is crucial for riders to have personal accident cover in their bike insurance policy. This cover not only provides financial security but also peace of mind for the policyholder and their loved ones. It is therefore advisable for bike owners to consider adding this cover to their insurance policy to ensure comprehensive protection.

In conclusion, personal accident cover in bike insurance is a wise investment for any bike owner. It provides financial protection in the event of an accident, giving the policyholder and their loved ones a sense of security. It is recommended to consult with your insurance provider to customize this cover to suit your individual needs.

A passionate advocate for justice and fair compensation, Richard Norris founded ClaimSettlementPros to create a trusted platform that simplifies and demystifies the claim settlement process. With over two decades of experience in the legal and insurance industries, Richard has amassed a wealth of knowledge and insights that inform our strategy, content, and approach. His expertise is instrumental in ensuring our information remains relevant, practical, and user-friendly.

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