Re: Accident cover for vehicle owners raised to Rs. 15 lakh An old thread, but the questions remain the same.
I found the following information at HDFC ERGO site.
Soruce : Compulsory Personal Accident Insurance
Effective from 01-Jan-2019, IRDAI has brought changes to “Compulsory Personal Accident Cover” for vehicle owners holding valid driving license. It means that these changes are applicable only to vehicle owners, who are lawfully able to drive nay owned vehicle on-road.
Now you can opt out from buying this cover with your motor insurance policies, subject to following conditions laid down by IRDAI:
- You already hold Personal Accident Cover Policy of at least Rs 15 Lakhs sum insured.
- Alternatively you already have motor insurance policy of another vehicle with “Compulsory Personal Accident” cover of Rs 15 Lakhs sum insured.
As per IRDAI mandate, you can choose to buy separate “Compulsory Personal Accident Cover” policy also to cover against accidental risks, while driving your own vehicle. This policy can be bought for any type of vehicle like private car, taxi, two wheeler and commercial vehicles (trucks, buses etc).
Additional info:
Cover Applicability : We cover you when you are driving or mouting/dismounting from your own vehicle. Even while traveling in the insured vehicle as a co–driver gets covered.
Non Driving State: If death occurs while the insured is not driving
Disclaimer: I am not associated with HDFC Ergo and does not benefit from sharing this information
Last edited by Romins : 13th June 2019 at 15:01.
Reason: additonal info
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