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According to the Motor Vehicles Act, 1988, buying a car in India requires you to purchase a Third-Party Liability Only Policy. However, this kind of a policy only provides coverage for bodily injuries, death and legal damages to third-party or third-party property.
You can also consider a comprehensive car insurance policy that would provide personal accident coverage. You can additionally invest in an Accident Shield add-on cover that would insure damages to co-passengers (apart from the paid driver) resulting from bodily injuries and/or death caused by accidental or other external means.
Accident Shield: What is it?
This is one of the more important add-ons, considering it seeks to cover unnamed co-passengers - travelling by the insured car - from death and/or bodily injuries. The sum insured, in this case, can go up to Rs.5 lakh per insured person – something that can prove to be of immense financial value in case of an adversity.
An Accident Shield add-on is a must-have, particularly if you like to take out your family or friends on long weekend trips.
Sum Insured Payout Process
Scale of compensation would depend on the nature and extent of injury sustained:
| Serial No. | Nature and extent of injury | Compensation |
| 1 | Loss of both limbs and complete loss of eyesight OR loss of one limb and loss of eyesight in one eye | 125% of Sum Insured |
| 2 | Loss of one limb or eyesight in one eye | 50% of Sum Insured |
| 3 | Permanent total disability from injuries apart from the ones mentioned above | 125% of Sum Insured |
| 4 | Death | 100% of Sum Insured |
In conclusion, an Accident Shield add-on cover works much like the Personal Accident Cover, but for co-passengers travelling by the insured vehicle. There are, however, a few basic exclusions that you should stay updated about.
While there is a slew of add-ons, Accident Shield is certainly one of the more critical ones. You can opt for it at the time of policy renewal.
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