Personal accident insurance and Personal effects coverage


Introduction To Insurance:

Insurance is a contract between two entities whereby one entity is called an insurer and the other is called an insured. In other words, an Insurance contract is represented as a policy. Insurance mainly provides financial protection or reimbursement against losses to an individual or entity. Her Insured usually received a contract called an Insurance policy.
Insurance protects the insured from financial losses. While insurance is being filled, the amount of money charged by the insurer for the particular coverage is called the premium.

If the insured experiences any loss which is covered in their insurance policy, so insured can file a claim for that to get the particular amount of that coverage, which is covered in the related insurance policy.

insurance Coverage

Personal effects coverage:

Personal effects are those items that an insured person can carry outside the home on a daily basis. Some examples of personal effects are Handbags, clothing, glasses, laptops or photographic equipment. With the help of personal effect coverage, anyone can protect these items while a person may away from home. The insured person has the choice to make a list of each value in the policy or select a claim limit for all these items. To get the claims for these items the insurer requires to show document proof of ownership.

Personal accident insurance:

The personal accident insurance policy covers your medical costs, providing compensation in case of disability or loss of limbs or even for death caused by accidents, external violence, and any visible means.

Benefits of personal accident insurance coverage:

  1. Accidental death: In case a policyholder dies in an accident then his nominee will get the accidental death compensation. The family of the policyholder will be financially secure in this situation.
  2. Permanent total disability: If the policyholder got permanent disability for life due to an accident, then the insurance company will pay a certain amount that depends upon the nature of the physical disability. This policy also covers loss of speech, vision, and hearing.
  3. Permanent partial disability: If the policyholder got any partial disability after an incident like loss of hearing from one ear, loss of one eye, loss of an index finger, a thumb, or even a hand. In all these cases, the policyholder gets compensation from the insurance company.
  4. Transportation benefit: Some insurance companies also provide transportation benefits for the family members, if the hospital of the policyholder is away from the hometown then the insurance company will provide all the expenses for transportation.
  5. Further benefits: In case of death, the insurance company will also cover funeral expenses. Policyholders also get coverage for hospital charges, including ambulance costs.

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