What does Accident mean? Read on to discover the definition & meaning of the term Accident - to help you better understand the language used in insurance policies.
In general, an unplanned, unexpected, and undesigned (not purposefully caused) event which occurs suddenly and causes (1) injury or loss, (2) a decrease in value of the resources, or (3) an increase in liabilities. As a technical term 'accident' does not have a clearly defined legal meaning. In insurance terminology, an accident is the events which is not deliberately caused, and which is not inevitable. For example, if a driver (who is covered under personal automobile insurance for injury and losses due to negligence) willfully drives the vehicle into a tree, the resulting injury or loss is not insured.
We hope the you have a better understanding of the meaning of Accident.