Road Accident and Personal Accident Car Insurance and Benefits
Road accidents have claimed so many lives of South Africans. So many road accidents have overshadowed the lives of many motorists and causing lot of consequences. It is our duty to guard and protect the victims after certain risk occurs by offering personal accident insurance and other benefits.
Personal accident insurance is an insurance policy that financially covers you, your family members, business partners or associate in the event of an accident, disability or if a death occur through accident. However, in the event that death occur those who are left behind be it your spouse, family members will be eventually compensated if they are beneficiaries on the policy.
Why Personal Accident Insurance
Most accident that occur in Mzansi are caused by reckless driving, human errors through driving with too much aggression, negligent driving behaviour and non-adherence to road traffic rules and regulations.
Being caught up in the aftermath of a road accident can be very distressing enough without starting to worry about the cost and hospital bills if you have suffered some injuries. The medical bills can be crippling especially if you are not covered on an insurance policy.
Acquiring an accidental cover can rescue you from hassles such as high hospital bills that will help you to reduce financial consequences during certain events.
In the event that you die of an accident your beneficiary on the policy will be paid an additional death cover. If you are injured in the result of an accident you will be paid a lump sum, even though the injury is not a serious one you will be given your payouts to cover the cost.
The Road Accident Fund and Additional Accident Cover
Reacting to the important risk experience that was presented to road users as a result of Road Accident Fund Amendment Bill, some insurance companies have modify Personal Accident Insurance Policies.
The law in South Africa in line with the Road Accident Fund Amendment Bill (RAF) abolished the common law of an injured person suing the driver for wrongdoing. This means that a motor vehicle driver that severely injured the passenger/passengers will not be sued with the passenger rather be compensated by the RAF.
What are the Accident Benefits?
Accident cover will benefit you in two ways:
- Death: In the event that you die or get injured in an accident your beneficiaries will be given a death cover or an accidental cover.
- Injury: if you get injured as a result of an accident you will be paid a lump sum.
Car rental and personal Accident Insurance
Car rental companies have realised the importance of personal accident insurance policy. They now provide a vast of insurance products to their clients to protect them if a risk occurs. If an accident happen various disclaimer are available to reduce damage cost and other liabilities that comes with accidents. These disclaimers are only put in place to cover the motor vehicle excluding the hospital bills and any other medical expenses.
Car rental companies provide insurance products with benefits such as:
- Death benefits
- Medical expense
- Help stranded minors
- Emotional support and free counselling
- Air-ambulance in case of emergency
- Intensive care transfer
How much insurance needed?
Drivers and motorist have different personal situations and requirements. However here are some of the questions you might need to ask:
- How many dependants do I have? These are people who rely on you for care and support.
- Type of lifestyle do I want to family to have?
- Does my partner have an income?
- Will my partner be able to cope financially if I’m no longer there?
- Does my family require any special needs? Such as a disabled child.
- Will my parents have a financial stability? Is there any possibility that they will depend on me financially?
Advice before obtaining personal accident insurance policy
To reduce the cost of your insurance cover, only purchase a cover that is relevant to you. Avoid paying insurance cover and liabilities that are not important.
Not all the insurer benefits are the same. Some can only cover accidents and other will cover medical bills and other medical requirements.
It is also advisable to consult a financial advisor. They can advise you on which reputable insurance to go to and also the policies to take which are in line with your finances.