You can be at home, at work, on the road or playing a game and bam! An accident happens and you are seriously injured. If you lose a limb or become incapacitated, your life would be inevitably altered.
Here are the reasons why you will need a personal accident insurance:
1. The other party is not insured
An uninsured party will not have sufficient funds to compensate you for injury you sustained. In a court of law, the compensation you receive will depend on the individual circumstance of the party-at-fault. If the person is unemployed, in a single-income household or a low-income earner, you may find that the compensation you receive is quite minimal compared to your needs or extent of injury.
2. The other party has only Third Party insurance
A Third Party insurance does not include compensation to injuries sustained by passengers. If the driver is your family or friend and was not directly responsible for the accident, you will likely not receive any compensation for injuries sustained from the driver.
3. The driver is not insured under Full Comprehensive Motor Insurance
As the driver, you are not insured under the Full Comprehensive Motor Insurance for sustained injuries, but your passengers are. If you do find yourself seriously injured during a car accident in which you were the driver and you do not have a personal accident cover, you will not receive any compensation for your injuries.
4. You own a bicycle, scooter or motorcycle
Owning any of the above transports does not automatically mean that you will end up in an accident. In fact, you may be even more prudent than the average road user. Nonetheless, you cannot gamble on the fact that other road users will do the same. You are extremely vulnerable to fatal or serious injuries if you do get into an accident. It is therefore extremely advisable that you get a personal accident insurance when operating such vehicles on the road.
What you should know?
Whether you get into an accident at home or on the road, your personal accident insurance will provide you coverage against injury sustained in the event of an accident. While you may receive medical assistance, the road to recovery may be long and costly. You might want more quality care or you might even simply want to be compensated for your injuries; either ways, a personal accident insurance will provide you with that protection.