Personal Accident Cover in Bike Insurance

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Personal Accident Cover in Bike Insurance

No matter how healthy or young you may be, a severe accident can significantly impact your life. It is where a Personal Accident (PA) cover in a bike insurance policy comes in, offering you peace of mind by taking care of the financial implications of a severe accident.

In addition to being mandatory, the PA cover also provides several benefits, ensuring that you and your loved ones are protected in an unfortunate incident. As one of the leading insurers in India, Tata AIG offers personal accident cover as an add-on option in the insurance for 2-wheelers.

So, what exactly is a Personal Accident Cover in bike insurance? What are the benefits of having a PA cover? We understand that there are similar questions on your mind right now. And hence, we have come up with this important piece of information here that will help you get more insights on Personal Accident (PA) Covers and everything related to the same.

Continue reading to learn more.

What Is PA Cover in Bike Insurance?

Let’s try to understand the importance of a PA cover a bit differently!

Once upon a time, a young man named Rahul lived in the bustling city of New Delhi, filled with bikes and cars whizzing by. He loved his trusty sports bike, "Blaze," and often went on long rides with his friends.

One day, while on a ride alone, Rahul got into a bike accident, broke his leg, and suffered a head injury. Even his beloved Blaze suffered some damage. He was hospitalised for around a month. Luckily, he had bike insurance that covered the costs of repairs, but his hospital bills surely made a dent in his savings.

When he returned home, his friend visited and pointed out that Rahul didn't have a PA cover. "P-A what?" asked Rahul, scratching his head.

"PA cover," replied his friend. "It's personal accident insurance for two-wheelers, which provides compensation in case you suffer bodily injuries or even death while riding your bike. It's an important bike insurance part that most people overlook."

Rahul didn’t know about its importance until then. But now, as you are aware of it, do not be like Rahul.

And, the good news is with Tata AIG, you can purchase personal accident covers and other add-ons simply and conveniently! Policyholders can easily log on to our website, choose the policy that suits their needs, and select the personal accident cover add-on option. This way, you can ensure you are adequately protected in future accidents.

[Note: It is essential to note that adding this coverage will increase the policy premium rate accordingly. So, be sure of your budget and do some due diligence before opting for an add-on cover.]

The Importance of PA Cover in Bike Insurance

The roads in India are known for their poor condition and high traffic, making them dangerous places for bike riders. And since bikes are more prone to accidents, it is crucial that you have a bike insurance cover that comes bundled with a personal accident cover. It can provide you with financial assistance for medical expenses and help you cope with the loss of income due to the disability.

A personal accident cover can help cover the cost of hospitalisation, treatment, and other related expenses, allowing you to focus on your recovery rather than worrying about finances.

Is Personal Accident Cover Mandatory for Two-Wheeler Insurance?

Due to the rising number of road accidents and policyholders filing claims, the government made personal accident insurance mandatory. This type of insurance covers any loss or injury during an accident.

In January 2019, the government slightly changed the compulsory personal accident cover. These changes include:

  1. Personal accident cover is mandatory for all bike owners, and purchasing it along with the third-party insurance policy is necessary.

  2. The personal accident cover must have a minimum coverage of ₹15 lakhs in case of death or permanent disability due to an accident.

  3. If a bike owner already has a personal accident policy for their existing vehicle, then they do not need to purchase a separate personal accident cover for their new bike. The existing personal accident policy will cover the owner in case of any accidents or injuries while driving the new vehicle.

[Note: These changes were made to ensure that bike owners are adequately protected in case of an accident and to reduce the financial burden on policyholders in the event of a loss or injury. It is essential to note that personal accident cover is not just an added expense but a necessary investment in your safety and security on the road.]

Things Included and Not Included in a Personal Accident Cover

The inclusions and exclusions under the PA cover in bike insurance are mentioned below:

PA Cover Inclusions PA Cover Exclusions
In case of the sudden death of the policyholder, the nominee will receive the entire sum insured as mentioned in the policy. The policyholder will not receive compensation for injuries or death caused due to riding under the influence of alcohol or drugs
If the policyholder loses two eyes, two limbs, or one eye and one limb, they will receive 100% of the compensation per the policy's terms and conditions. The policyholder will not receive compensation if the accident occurs outside the insured geographical area.
If the policyholder loses sight of one eye or one limb, they will receive 50% of the compensation as per the policy. Injuries or death due to an accident deliberately caused by the policyholder are also not covered under personal accident cover.
If the policyholder suffers from permanent total disability due to an accident, they will receive 100% of the compensation per the policy terms and conditions. If the policyholder suffers from permanent total disability due to an accident, they will receive 100% of the compensation per the policy terms and conditions.

Benefits of Having a Personal Accident Cover

If you are still unsure why you’d need a PA cover, here are the key benefits of a personal accident cover that you must be aware of. Keep reading below:

  • Accidental Death Benefit: In case of the policyholder's unfortunate death due to a road accident, the policyholder's family will receive benefits from the insurance provider. Personal accident cover offers 100% of the total sum assured to the policyholder's family to protect them financially.

  • Disability Compensation: If the policyholder suffers severe injuries due to a road accident that leads to temporary or permanent total disability, personal accident cover provides 100% of the capital sum assured to the policyholder and their family. The insurance company will also compensate for temporary disabilities and permanent partial disabilities up to a specific limit.

  • Hospitalisation Benefits: Personal accident cover also provides daily cash allowance as hospitalisation charges, up to a maximum of 50 days, in case the policyholder gets severely injured and needs to be hospitalised.

  • 247 Claim Assistance: Insurance companies that offer personal accident coverage also provide roadside assistance and a customer support team to help policyholders solve claim-related issues. The supporting team is available 247 to assist policyholders throughout the claim process.

How to Purchase a Personal Accident Cover in Two-Wheeler Insurance with Tata AIG Online?

PA (Personal Accident) Cover is not included in the comprehensive two-wheeler insurance plan or the mandatory third-party liability plan and is compulsory to purchase separately. But if you are not that internet savvy, don’t worry! With Tata AIG, purchasing a PA cover, or for that matter, any insurance plan, is straightforward.

With us, you can easily buy Personal Accident cover online from the comfort of your home or workplace, and that too without any paperwork.

Here are the steps you need to follow to purchase PA coverage with your bike insurance policy:

  • Navigate to the official web portal of Tata AIG and click on the "bike insurance" section under the ‘All Products’ drop-down button.

  • Pick the type of bike insurance plan you wish to buy - Comprehensive insurance or third-party liability.

(Note: in the case of comprehensive insurance, you can compare two-wheeler insurance plans to pick a policy that fits your budget.)

  • Select "Personal Accident Cover" from the list of add-ons for bike insurance.

  • Review the details and confirm the purchase.

  • Submit the premium payment online via any of the e-payment options. And voila! Once your payment has been verified, you will receive a soft copy of the bike insurance plan on your registered email ID.

How to Claim Personal Accident Cover in Two-Wheeler Insurance with Tata AIG?

To claim the PA (Personal Accident) Cover of the respective 2-wheeler, the policyholder or the dependent must follow these instructions:

  • Immediately inform Tata AIG about the scene and the resulting loss without delay.

  • File an FIR (First Information Report) at the local police station, followed by the FR (Final Report).

  • Submit every necessary document online and wait for Tata AIG to verify the details and resolve the insurance claim accordingly.

To Sum it Up

A Personal Accident cover is an essential plan that offers higher compensation in case of unforeseen accidents. Accidents can happen anytime, and protecting yourself and your dependents with this cover is crucial. By purchasing a PA cover with insurance for 2-wheelers, you can have the peace of mind that your family is financially secure and protected from accidents.

At Tata AIG, purchasing the Personal Accident cover is hassle-free as it can be bought online without needing paperwork or filling out any application. With this mandatory cover under vehicle insurance, you can rest assured that you and your family are financially safeguarded.

So, don't wait for a mishap to occur. Get your PA cover today and ensure a secure future for yourself and your loved ones.

Frequently Asked Questions (FAQs)

How can I claim insurance for a bike accident?

If your bike has been involved in an accident and requires repair work, you can claim insurance by following these steps:

  • Contact Tata AIG and inform us about the accident.

  • An authorised Tata AIG representative will be sent to assess the extent of the damage to your bike.

  • The representative will register your insurance claim and provide a claim registration number.

  • For further processing, visit our web portal and upload all the required documents, such as the claim form, FIR, policy document, driving licence, and registration certificate.

  • We will then evaluate your claim and provide you with an estimate of the repair costs.

If your claim is approved, we will either authorise cashless repairs at a network garage or reimburse you for the repair expenses, depending on your policy terms and conditions.

For any assistance, you can reach out to our claim settlement team at 1800-266-7780 or email us at customersupport@tataaig.com.

Is bike insurance worthwhile?

Absolutely, bike insurance is a crucial tool for financial planning and is legally mandatory. If you're responsible for a bike accident, the motor liability coverage included in your policy will cover the costs of losses, such as the other party's medical expenses or damage to their property or vehicle resulting from the accident. Therefore, bike insurance provides peace of mind by covering financial losses due to unexpected accidents.

What is the Accidental Death Benefit of Personal Accident Cover?

In the unfortunate event of a policyholder's death due to an accident, the impact on their family can be devastating, especially if they were the primary breadwinner. The personal accident cover offers 100% of the sum insured to the dependents in case of accidental death.

This amount can help the family cope with the loss and prevent them from facing financial difficulties. It provides much-needed financial security during a difficult time.

Why is having Personal Accident Cover in Bike/Two-wheeler Insurance essential?

According to the ICE (India Consumer Economy) 360 Degree Survey, there are almost 25% more two-wheelers than four-wheelers in India. With so many bikes and scooters on the road, the risk of accidents is significantly higher. Being prepared for any unforeseen event that may financially impact you is crucial.

Having Personal Accident cover in your motor insurance policy provides maximum financial coverage in case of death or disability due to an accident. Therefore, the PA cover is a crucial component of your insurance plan. It is essential to purchasing this mandatory cover to protect yourself and your loved ones.

Do I have to buy two Personal Accident covers if I own two scooters/bikes?

No, you do not need to purchase two PA covers. The coverage is for the individual and not for the vehicle, so one Personal Accident cover will suffice regardless of how many bikes or scooters you own.

Disclaimer / TnC

Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.

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