Personal Accident Insurance
What is Personal Accident Insurance?
Personal accident insurance is an optional insurance type that provides financial security against potential economic difficulties a family might face in the event of the insured’s unexpected death due to an accident. It also covers medical treatment and hospitalization costs in case of permanent disability or injury.
What is a Personal Accident Policy?
A personal accident insurance policy is a contract that includes detailed information about the main and additional coverages as well as coverage limits. By paying an additional premium, you can add new clauses to your personal accident insurance policy, including coverage for all damages caused by events such as earthquakes, floods, and natural disasters.
What Does Personal Accident Insurance Cover?
Personal accident insurance covers permanent disability, death, medical expenses, and third-party liability. These coverages and their limits may vary depending on the insurance company. Additionally, personal accident policies may include extra coverages such as vehicle maintenance, towing services, dental care/check-ups. These extra benefits may be provided free of charge or at a discount, but not all companies offer the same extras. You can receive a personal accident quote to learn about the most current coverages and choose the one that best suits your needs. Let's look at the details of the coverage:
Death: In the event of death due to an accident, the insurance company pays compensation to the family or the beneficiaries designated by the insured, within the coverage limits.
Permanent disability: If the insured suffers full or partial disability due to an accident, compensation is paid according to the limits of the personal accident insurance. Injuries such as physical harm due to sudden movement, burns, or insect bites are also included.
Medical expenses: The insurance covers treatment costs incurred due to an accident, within the policy limits. Expenses such as doctor fees, medication, and treatment costs are covered as stated in the policy.
Third-party liability: Damages caused to third parties by the insured’s household members, employees, or pets are also covered within the limits of the policy.
