However, often if you’re handling things well, loosing an engine isn’t the end of the world.
A lot of accidents happen very close to the ground, at height wear a parachute wouldn’t necessarily be helpful anyway.
A parachute, a great solution for some scenarios, but for many, it’s not going to change the outcome. Such examples would be mid collisions, low altitude spiral dives, fires, or anything related to a shortage of oxygen. You also need to consider that during a lot of accidents, other factors, such as weather might be impacting the decision matrix of the pilot, and that might prevent them from using a parachute until it’s too late.
The parachutes are also another maintenance item in increasing the cost of running the plane, and generally, the airframe won’t survive the accident, so people are hesitant to deploy them.