Accident insurance is a general insurance that protects the insured from costs related to unexpected injury. What counts as an “accident” varies from policy to policy, but most policies are very broad and can allow for almost any injury to be covered. Many workplaces will offer this insurance if the employee is involved in a dangerous line of work. Examples include loggers, heavy machine operators, and firefighters.
Who is it for?
This insurance is useful for almost everybody. By nature, nobody can fully protect themselves from accidents. As such, there is little reason not to purchase it if an affordable plan is available. However, those who are involved in dangerous lines of work, or who suffer from medical conditions that can lead to accidents, such as epilepsy or narcolepsy, should give it additional consideration.
How does it work?
Insurees will receive funds in the case of an accident, as defined by their policy. These funds can be used to cover transportation, lodging, and medical costs that are not covered by an existing healthcare plan. If enough funds are left over after paying all of these, they can be used to supplement income while recovering from the accident.
Different types of coverage
Since this type of insurance is a general term for a variety of policies, there are many different varieties. Check with each individual provider to find the most suitable plan. A lot of providers offer combination insurances, such as accident and health insurance or accident and sickness insurance. These will allow insurees to save money while receiving additional benefits.
Accident insurance can provide security, stability, and peace of mind. Insurees can be sure that they will be able to cover their costs and provide for their families no matter what life may throw their way. Overall, it is an inexpensive, reliable form of insurance that may prove to be very useful when least expected.