Accident Cover for Two Wheeler Insurance – what it is and what are the benefits

22 May 2019

Riding a bike is an exciting, exhilarating experience. It is one of the most preferred modes of private transportation in India. While a bike allows you to zip around town conveniently, it also comes with its own share of risks, with bike accidents increasing at an alarming rate. The Motor Vehicle Act of 1988 has made it mandatory for all vehicle owners to invest in a basic, third party insurance cover, but it is always better to pay a slightly higher premium and invest in certain additional covers that can provide added security – especially in case of accidents and consequences arising due to the same. Let’s find out what personal accident cover in two wheeler insurance is and understand its many benefits.

What is personal accident cover in bike insurance?

A personal accident cover is one of the most important features of bike insurance that offers protection against serious injuries sustained by the bike rider in an accident or the accidental death of the rider. You also have the option to purchase an additional cover for pillion riders so that, they too, are covered in case of an accident. Typically, one would be eligible for a compensation of approximately ₹100,000 as personal accident cover and the age limit of the rider should be between 18 to 65 years.

Personal accident cover is usually offered as a part of your comprehensive insurance policy. But a comprehensive insurance policy includes a lot of additional factors which is why you need to opt for it. While it does not require you to pay a high premium, if you require a higher sum assured you should be willing to increase the premium amount. You must also remember to renew your insurance annually, and on time.

Accident cover in two-wheeler insurance – the benefits

You can avail the following benefits with your accident cover two wheeler insurance.

Benefit due to accidental death:

If you are the breadwinner of your family, it is in your best interest to opt for accidental death cover. The premature death of the sole earning member of the family in an accident can put the financial condition of all the dependant members in jeopardy. An unexpected, unfortunate event like this can also increase the financial problems and liabilities of the dependant members. If you purchase the personal accident cover as part of your two wheeler insurance policy, your dependant families members are provided with 100% of the total sum assured. This amount can provide your family members with a sense of stability during a time of emotional and financial crisis.

Compensation due to partial or complete disability:

Depending upon the severity of the accident one could be in the state of temporary or permanent disability. This is another factor that can impact the policy holder’s family’s finances adversely. If the injury sustained in the accident is permanent, the policy holder can get 100% of the sum assured. Accident cover in bike insurance also makes provisions for temporary disabilities or permanent partial disabilities and the policy holder is compensated with a pre-determined, percentage amount of the sum assured as per the policy agreement. The amount is determined based on the severity of the disability.

Cash allowance for hospital expenses:

If the policy holder sustains severe injuries in the road accident that require him to be hospitalised for a certain period of time, he is provided with a cash allowance to meet with this expenses. Typically, one can get a cash allowance for hospitalisation for a maximum period of 50 days from the time one is admitted in to the hospital.

Round the clock assistance:

Along with the personal accident cover, you also become eligible for 24x7 claim assistance to help you with all your claim filing and redressal needs. Also, most insurance companies also provide roadside assistance so that you receive help as soon as possible. The helpline is meant to offer instant help and also guide you through the claim process during such stressful times.

If you own a two wheeler, it is strongly recommended that you opt for accident cover in two-wheeler insurance policy. As is evident, the benefits truly surpass the amount you would be paying as premiums.