Accident Insurance: What Is It? What Does It Cover?
Accidents can happen to anyone with no exceptions. Even if you are very careful, it can still occur. It may be caused by you or by other people. It can happen anytime and anywhere, even when you are working, sleeping, eating, relaxing, or just quietly sitting right there in your living room.
Accidents may leave you with a dull or heavy injury, or even death. The costs that you may incur during these accidents might not be very simple. It could cost you a tremendous amount of money if you are not prepared.
In the U.S., depending on which state you are in, even a trip to the hospital using an ambulance will cost you as much as $100-$200+ per mile. Without insurance, for instance, seeing the hospital bill with surprise fees after the accident will send you straight back to the hospital due to shock. But fear not, you can prepare for these accidents by investing in an excellent insurance policy.
WHAT IS IT?
In addition to your chosen primary insurance policy, you can add the Accident Insurance to it.
Accident Insurance is also called as Personal Accident Insurance or Supplemental Accident Insurance. It helps you pay for the medical and non-medical expenses from an injury or accident which you have paid for from your own pocket.
Accidental Insurance is quite helpful to you as you can use this payout to cover any costs involved in your accident. This can include non-medical costs like childcare, transport fees going to your therapist, and many more.
It is paid directly to you instead of the hospitals and medical workers in the form of lump-sum cash benefits. The best thing is that even though your health plan covers 100% of your accident costs, your benefits are still payable to you.
WHAT DOES IT COVER?
A lot of the insurance companies will cover accidental deaths, eye injuries, dislocations, concussions, fractures, lacerations, burns, and accidental dismemberment, and they are sometimes different from one another.
So, it is better if you check them out and choose what is best for you. Depending on the type of coverage you want from the beginning until the end, your coverage applies to you. What kind of coverage you have, your diagnosis, treatment, and seriousness of the injuries you sustained will affect the benefit amount you will receive.
AND WHAT IS NOT COVERED BY IT?
Depending on which insurance company you are under, and what accident insurance plan you have, the kind of injuries you sustain may not be covered by your plan.
The following are examples of some injuries which may not be covered by your plan:
Injuries sustained before your insurance plan was purchased
Injuries sustained while committing suicide or self-inflicted injury
Injuries sustained while you commit a crime
Injuries suffered from doing dangerous or reckless activities
Injuries suffered from disease or sickness
Injuries sustained while under the influence of alcohol or some certain drugs.
Accidents can happen to everyone, and it happens when you least expect it, so you need to be prepared when it strikes. Have you ever thought how many times in your lifetime you might get to experience accidents? While you can afford to have insurance, you are, in fact, very fortunate. Just grab the opportunity to use it. Invest in it. And find the best one that suits your lifestyle.
By getting insurance, it can help you have peace of mind and enables you to sleep well at night. Adding supplemental options like Accident Insurance or Personal Accident Insurance to your initial plan will help strengthen it.
Based on Materials from Guardian Direct