What is personal accident insurance policy?

What is personal accident insurance policy?


Personal accident insurance policy is an insurance that offers compensation when the policyholder suffers injuries, mutilation, impairment or demise from a hazardous, violent and visible event. The situations that are included under this cover are:

Injuries during air, road or rail travel

Injury due to a fall or collision

Drowning or injury from fire

The accident insurance policy also protects dependents of the policyholder from economic issues in case of an eventuality. A person should ideally buy a policy that provides reimbursements for all unprecedented situations such as short-term impairment to demise of the individual. Such a policy will protect the family’s future, and can be conveniently renewed through online portals.

A good accident insurance policy protects the policyholder and his family in a very significant way. Hence, it is important that people understand the advantages of purchasing such a policy. Accident insurance policies can be purchased online through the insurer’s website or, more efficiently, through neutral third-party financial websites. Even though Life Insurance policies provide personal accident coverage as an add-on, this might not be enough.

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BB Expert