Benefits A-Z: What is Accident Insurance?

Accident InsuranceAccident insurance is a plan that protects you in the event of an accident. Say you happen to fall off a ladder or get in a car accident or your child gets hurt playing sports, your accident plan helps offset the cost of the deductible and coinsurance associated with your medical plan. Your accident insurance will pay a fixed benefit amount based on covered expenses or treatments resulting from an accident. This includes emergency treatment, hospital stays and medical exams, and other expenses that are not fully covered by your medical insurance. The benefit is paid directly to you and not to a provider, giving you even more freedom.

Here are some examples of the types of events that can be covered by accident insurance:*

  • Fractures
  • Concussions
  • Dislocations
  • 2nd and 3rd Degree Burns
  • Hospital Admission
  • Hospital Confinement
  • Emergency Care
  • Ambulance/Transportation
  • Non-Emergency Care

Accident insurance does not usually cover natural disasters, negligence, or hazardous activities (such as bungee jumping, parachuting, and more). Sprains, bites, and cuts are the among the most common examples of minor injuries covered by accident insurance. However, it is important to seek treatment within the first 72 hours after the accident in order to receive these benefits. When shopping for a plan, be sure to ask about what types of accidents and events are covered.

Accidents can happen anytime, anywhere. Having accident insurance is one way to be as prepared as possible and to ease the financial repercussions after the fact. With coverage for yourself, your spouse, and your dependents, you may not be able to prevent accidents from happening, but you can at least have peace of mind and added financial security in case they do.

*These are examples of some standard types of coverage you can get with accident insurance. Availability from a particular insurance company will vary by product and state.