Accident insurance is a policy for when you’re injured in an accident. It applies solely to situations that are considered an accident. It’s a good supplement to other kinds of insurance policies. As it makes it possible to pay expenses that other policies generally don’t cover, such as co-pays or deductibles.
Most importantly, the policy can help pay medical bills. Hospitalization, medical testing, medications and therapy are examples of what this policy can help pay. The policy will also pay a benefit to your beneficiary should the accident lead to your death.
Accident insurance is possibly available from your employer, if it is part of a benefits package. But you can purchase it privately as well. You’ll have to pay a monthly premium like with most insurance policies. If you experience an accident, then you will receive the benefit. The funds are yours to use as you please. You can pay expenses or keep the money to cover income you’re missing because of the accident.
Accident insurance is recommended for people in high-risk jobs. People in certain high-risk occupations, such as construction workers, are more likely to experience an accident. Speak with an insurance agent to see if you can benefit from this coverage.