Personal accident insurance is of considerable importance in the modern industrialized society, where the rates of personal accidents have increased tremendously due to excessive use of modern mechanical equipment, fastest modes of transport and application of technology in every sphere of economic activity.
Personal accident insurance is designed to pay an agreed amount of compensation for death or injury and it may also pay hospital expenses and a weekly sum of money if the insured person is unable to work after the accident. In terms of insurance an accident is defined as a sudden, unplanned and external event that is not under the control of the insured and that causes bodily injury or property damage.
Many insurance companies offer personal accident insurance. The cost of car insurance varies greatly from company to company. Calling several insurance companies for quotes is smart because you may find huge price variations for the exact same coverage
