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Personal Accident

In case of an unfortunate accident, your life can be saved by timely medical assistance and in case of death, financial assistance can help your family recover from dependencies. This makes medical and life insurance for a passenger a marketable feature for cab aggregators in India.

Of late, through advertisements, we know that we’re covered if a taxi is booked through an app. However, the truth is that this “extra” safety option has been present for cab services for a long time.

Traditional Passenger Insurance

Any type of passenger vehicle, whether booked through an app or not, as they are 4-wheelers, can have any of the two types of insurance covers. However, whether the cab you’ve booked has a third-party cover or a comprehensive policy, it doesn’t matter. You are covered, irrespective.

The coverage amount is decided by the government through a tribunal (Motor Accident Claim Tribunal). And since there is no upper limit to how much coverage will be paid out if there is a loss of life, in the unfortunate event of your meeting with an accident resulting in your death, your family will receive a sufficient amount that is calculated according to your family’s ongoing expenses and your current income as well as potential working years. The insurance also covers you for medical expenses in case you need to undergo medical procedures as a result of your meeting an accident not resulting in death.

New-age Passenger Insurance

The insurance that you are offered by cab aggregators is termed as a “group domestic travel policy”. This insurance is generally offered by a private insurance company that pays for damages caused by app-based cab drivers. The coverage options are more like a travel insurance policy rather than a motor insurance policy. The following is the extent and amount that you are covered for:

  • Accidental medical care: Rs 1,00,000
  • Hospital daily allowance: Rs 500/day
  • OPD treatment: Rs 3,000
  • Ambulance and emergency evacuation: Rs 10,000
  • Accidental death: Rs 5,00,000
  • Permanent partial disability: Rs 5,00,000
  • Repatriation of mortal remains: Rs 10,000

In Conclusion, Having Your Own Insurance is the Way to Go

Government statistics from 2017 state that a whopping 5 lakh accidents occurred on Indian roads, resulting in the unfortunate deaths of 1.5 lakh people.

Though adding a travel allowance to a small cab trip can help with marketing for the brand, there is not much value added. Having one’s own insurance in place is the way to go. Even though the travel insurance your cab ride may offer is important, a personal accident insurance policy is a super-cheap way to cover yourself for cab rides, day-to-day travel, as well as any other mishap that could happen to you at home, at work, or during leisure.

Stay safe, be sure, choose OneInsure.

In case of queries, feel free to write to us at support@oninsure.com or call 86559-86559.

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