Every year, a number of people get into dangerous road accidents. In fact, in 2018, the road safety data indicated that over 1.5 lakh Indians were victims of fatal accidents. Since there’s no way for us to be sure of what might happen in the future, opting for a personal accident (PA) cover along with your motor insurance, would be beneficial not only for vehicle safety but also to prevent you from incurring a financial burden in case things go awry. Personal Accident Insurance provides a safety net even in the absence of life insurance or augments it if you have life insurance too.

Recently, the Insurance Regulatory and Development Authority of India (IRDAI) announced that any person purchasing motor insurance would require a Personal Accident cover of 15 lakhs. In case a person has more than one vehicle registered in their name, they do not have to opt for Personal Accident cover for all the vehicles. While one cannot control accidents, a Personal Accident plan helps cover atleast some part of the finances of the insured under unfortunate circumstances.

Personal Accident Riders/ Add Ons

When you buy a standard personal accident insurance plan, you get comforted by the fact that all your accident-related expenses are covered, be it medical expenses in case of injuries, or disabilities caused by the event of the accident. However, you can add the benefits of a Personal Accident insurance cover by adding add ons or riders that provide additional coverage and make your protection more comprehensive. These riders or add-ons can be availed in return for a nominal incremental premium over and above the base plan premium.

To strengthen your standard personal accident insurance policy and make it more comprehensive and beneficial, the riders that you can consider over and above your basic Personal Accident policy are mentioned as follows:

1. Cash Benefit

This add-on insurance cover provides a daily cash allowance facility that makes it easier for you to meet day-to-day hospitalization charges. This benefit is available throughout the duration of the hospitalization.

2. Income Protector

In the unfortunate event of the demise of the policyholder before the lapse of the policy, their beneficiaries become the recipients of a monthly income through this rider. The extent of income given to the family will be a maximum of 1% of the sum insured, every month.

3. Room Rent Waiver

This add-on provides the benefit of a higher sub-limit or, in some cases, gives rooms without sub-limits during hospitalization. With this plan, it’s possible to get access to better rooms and quality services without it biting into your sum insured.

4. Surgical Benefit

A regular health policy compensates only the hospitalization expenses incurred by the person. But in case the injury caused in an accident needs surgery, they might be required to pay from their pocket. With this rider, one can avail of its benefits for such surgeries as well.

5. Roadside Assistance

In the event of an accident occurring, the insurance companies provide coverage for immediate roadside assistance if you opt for this rider along with your basic insurance policy. They also cover transport services and compensation for the first aid given on the spot.

While opting for riders or add-ons it’s considered a best practice to always read the offer document to understand the full gamut of the policy, and whether or not it will suit your requirement.