What does indemnity passenger insurance in a commercial vehicle insurance policy entail?

Passenger indemnity insurance is a useful addition to commercial vehicle insurance. After an accident, this insurance provides benefits. The commercial vehicle insurance takes care of the settlement of damages to the commercial vehicle and the other party. The damage passenger insurance carries the financial loss due to injury or death and also material damage of the passengers.

Why do you take out no-fault passenger insurance?

You want to properly insure your company car, but of course the same goes for the passengers. An accident is in a small corner and can cause serious financial distress. Being incapacitated due to an accident is terrible, you want to prevent yourself or one of the passengers from also having to worry about money. With indemnity passenger insurance you have that part well covered.

When does indemnity passenger insurance pay out?

A prerequisite is an accident involving the insured vehicle. If this causes injury to one or more passengers or the driver, the insurance pays out. It can be property damage, such as a defective smartphone, but the main payout is for death and bodily injury. In cases of injury, health insurance bears the cost, but the main issue is consequential damages. Injury, for example, prevents an occupant from working. If he or she is still decades before the retirement date, the cost is significant.

What is the biggest difference from accidental occupant insurance?

Accident occupant insurance is chosen more often than non-life occupant insurance. Still, the non-life passenger insurance is by far the best choice, but slightly more expensive. Accident occupant insurance pays a lump sum in the event of permanent disability and death of a passenger. The payout is low and in the event of property damage, accident-occupant insurance does not pay out.

Insure the indemnity passenger insurance?

Co-insurance is highly recommended. For a small premium, you get comprehensive coverage if things do go badly wrong. The chance of a serious accident is small, but it certainly cannot be ruled out. In the event of incapacity for work, benefits can amount to hundreds of thousands of euros or even more.