Secure your biggest investments with personal accident, car and home insurance policies

Most people value owning a home, and we put a lot of effort into keeping it secure.

- By: Sanjeev Puri

Purchasing home insurance is one of the finest ways to safeguard your house and its possessions. Similar to this, purchasing a car is a significant financial commitment, therefore it's critical to get auto insurance that covers all potential hazards, including costly devices and auto parts. Accidents can occur at home or while driving. Let's examine some essential insurance plans to guard against these dangers.

PERSONAL ACCIDENT COVER

Personal accident cover is necessary because it provides financial protection in the event of unexpected accidents or injuries. Without personal accident cover, individuals may face significant medical expenses and loss of income, which can have a detrimental impact on their financial stability and overall well-being. Additionally, personal accident coverage often includes benefits such as disability coverage and accidental death benefits, providing further peace of mind for individuals and their loved ones. The personal accident policies provide for claims only against accidental death. An accident leading to a permanent disability or a temporary disability has a bigger risk, as the financial loss resulting from the hospital expenses as well as job loss can be high.

To cover the risk of accidents, there are two major insurance alternatives in India. To begin, you can get standalone personal accident insurance policies (PAIP) from general insurance firms. Second, you can add an accident rider to your life insurance policy. According to the definition, this coverage only covers bodily injuries caused by accidents that are external, violent, and visible. It protects you against four potential outcomes of an accident: death, permanent total disability, permanent partial disability, and temporary total disability. When choosing a PAIP, go for comprehensive coverage of all four, even if you have the option of covering one, two, or three of them.

CAR INSURANCE