What is Accident Insurance?
Accident insurance provides compensation for injuries or hazards to a person or group, covering unusual events like injuries, sickness, personal accidents, and employer’s liability.
Types of Accident Insurance
- Motor vehicle insurance: covers losses from vehicle accidents, in three forms: comprehensive (covers damage caused by the car, to the owner and others), third-party only (protects against claims from others), and third-party fire and theft.
- Personal accident insurance: taken by sportspeople, passengers, clubs, or employees, covering loss of any part of the body.
- Liability insurance: taken by organisations to protect against claims from employees injured at work.
- Property insurance: covers a house against natural disaster damage or other risks.
- Fidelity guarantee insurance: taken by employers against wrongful use of funds or embezzlement by employees.
- Third-party liability: taken by car owners against injury or death of a passenger.
