What is a necessary personal accident cover?
As per the India Motor Tariff in 2002, the motor insurance policy should also have a mandatory personal accident cover as a part of it. This type of cover is valid in both the cases: if an individual buys an only comprehensive policy or a third-party policy, which consists of both - the own-damage and third-party covers.
Till now, Rs 50 was the premium for a compulsory personal accident cover for a two-wheeler for a cover of ₹1 lakh. Rs100 was the premium for a private car or a commercial vehicle for a cover of ₹2 lakh. A uniform cover of Rs.15 Lakh is now applicable for all 2-wheelers, all private cars and any commercial vehicles at a premium of just Rs. 750 excluding taxes. As an add-on cover, an insurance company can also offer a higher sum insured for all personal accidents.
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