Death Indemnity Coverage

What is death indemnity coverage?

Death indemnity coverage is a car insurance policy that covers the funeral costs of anyone who dies as a result of a car accident. This coverage will take care of you and your passengers whether or not you caused the accident. There are limits to this coverage which you choose those at the time that you sign up for the policy; these limits affect the rates you will pay.

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Do I need death indemnity coverage?

Maybe or maybe not. Look at the policies that you currently have or the ones that you are certain that you would like to purchase. It is likely that you are already covered for these expenses, in which case it would only be a waste of money to purchase double coverage. Your medical or health insurance, and possibly your life insurance policy, may include coverage for funeral costs.

On the other hand, if none of your current policies covers this type of expense, then death indemnity coverage is a worthwhile investment. Check out all of your policies and ask your insurance provider(s) if you are unsure. With the death of a loved one, the last thing you need to worry about is funeral expenses.

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How much death indemnity coverage do I need?

Again, this depends on the coverage you already have. If you have no coverage whatsoever in the form of personal injury protection, health, medical, or disability, then make sure that you purchase enough to cover at least the cost of one funeral. These days, funerals can cost upwards of $5,000 or more. So you should make sure that any policy you purchase will cover at least this much.

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