what is cpa cover in car insurance

what is cpa cover in car insurance

1 year ago 86
Nature

CPA cover in car insurance stands for Compulsory Personal Accident cover. It is a mandatory coverage that provides insurance against death or disability resulting from an accident, with personal accident coverage. The policy payout is pre-decided and is provided in case of the owner-drivers accidental death or permanent total disability. According to the Insurance Regulatory and Development Authority of India (IRDAI), all vehicle owners must have a compulsory personal accident cover with a minimum sum insured of INR 15 Lakh. The standalone CPA policy came into effect from January 2019, wherein the insured can opt for this policy instead of choosing CPA as a cover within a Motor Insurance policy. The coverage extends to death and disability of the insured person and applies to an accident not only while traveling but also when getting in or out of the insured vehicle. The type of vehicles included in the coverage is cars (private, commercial and fleet cabs), two-wheelers (bikes and scooters) & Commercial Vehicle.

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