What is the primary purpose of Accident Benefits in automobile insurance policies?

The primary purpose of Accident Benefits in automobile insurance policies is to provide financial protection without regard to fault for insured individuals who are injured in a car accident. This means that regardless of who caused the accident, the insured will have access to certain benefits for medical expenses, income replacement, and other expenses that arise due to the injuries sustained from the accident. This coverage is designed to ensure that victims receive timely support and care, minimizing the financial impact of injuries.

This aspect of insurance emphasizes the importance of protecting individuals first and foremost, rather than navigating the complexities of fault determination which can delay support. Coverage for vehicle repairs and liability coverage for third parties serve different functions in the insurance contract and do not directly address the immediate needs of the insured following an accident. Additionally, using Accident Benefits as investments for the insurer deviates from their core purpose, which is to provide support for injured parties rather than to generate profit.