The personal accident insurance They are a type of policy that provides financial protection in the event that a person suffers an accidental injury or death. Find out what advantages you have and how you can access them.

The definition of Banco BBVA explains that «They are a type of contract that is made with an insured to financially cover a person in the event of becoming disabled or failing as a result of an unexpected event”.

Lawyers Laura Robledo and Tatiana Gaona, in their article ‘Personal accident insurance in Colombia’, describe it as one of the main products for mass insurance sales.

The simplicity in its language and structure makes this product have multiple benefits for both the insurer and the insured. According to article 1071 of the Commercial Code, unlike life insurance, they are perfectly revocable by both parties.

According to the lawyers, these insurances have a hybrid nature, since although they are classified as personal insurance, they are governed by some of the rules established by commercial legislation for damage insurance.

This is due to the application of the principle of compensation in certain accident insurance coverages, which have a strictly personal compensatory focus, such as total and permanent disability and medical, surgical, pharmaceutical and hospital expenses.

(Also read: Rental insurance in Colombia: what is it and how is it used?).

How to purchase personal accident insurance?

A person can purchase insurance to protect themselves financially. In the same way to have peace of mind and security in the face of unexpected events. Plus, you can access additional services and benefits, and save money in the long run.

In Colombia, there are several insurance companies that offer personal accident insurance, so you can purchase one with the following 5 steps:

Step 1: In the process of acquiring personal accident insurance, it is recommended that the person concerned first research and compare the different insurances available in the market to find the one that best suits your needs and budget.

Step 2: then you can contact directly to one or more insurance companies for more information and to apply for insurance.

(You may be interested in: Protección and Sura Asset Management create Asulado Seguros de Vida).

These insurances can cover total and permanent disability and medical, surgical, pharmaceutical and hospital expenses.

Step 3: To obtain insurance, the person will have to provide personal informationsuch as your name, age, occupation, income, and health status.

Step 4: Then you will need to select the type of coverage you want and the premium you are willing to pay, taking into account factors such as the type of accidents covered, the amount of compensation, and the length of the insurance.

Step 5: Finally, if you are satisfied with the terms of the insurance and the premium, you will have to sign a contract with the insurance company to formalize the policy.

(Keep reading: The damage insurance that has CDAs in trouble because it is not sold in Colombia).

It is important that the person read the terms and conditions carefully before you sign the contract to make sure you fully understand what is covered and what is not covered.

It is also recommended to compare different options before making a final decision to get the personal accident insurance that you best suits your needs and your budget.


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