Accident Insurance

Here Is Why You Should Consider Accident Insurance

Many accidents are often attributed to human error and other factors such as negligent driving, aggressive driving, lack of adherence to traffic rules, and poor road conditions. We face many road risks that can be hard to prevent. Being a victim of an accident can be devastating. Add to that, the worry of financial implications and looking after yourself and your family. Should you lose your hearing or a limb in an accident, medical costs can be devastating and the on-going treatment can become costly. You may even require physical therapy or have to alter your home to accommodate the injury. By taking out accident insurance, you are making such incidents easier to deal with and can reduce the financial implications of such an event. Should you die as a result of the accident, your beneficiaries will be paid out a death coverage sum. If you are injured, but the injury is not completely debilitating, you will receive a portion of the payout to cover the costs.

What Benefits Will an Accident Insurance Company Include?

Coverage from an accident insurance company can benefit you in two ways. First of all, if you die in an accident or through an act of violence, your estate or your beneficiaries will receive an additional amount of death coverage. Accidental death is typically described as death caused by accident, external, violent, and visible means. Secondly, if you suffer an injury due to an accident, your policy will pay out a lump sum. Even if the damage is not completely devastating, you will still receive a percentage of the insured amount.

How much personal insurance you will need will depend on your personal circumstances. Consider how many dependents you have and the sort of lifestyle you wish to provide for them. Also, consider whether or not your spouse earns an income and if he or she would be able to cope financially, in the event that you are no longer present.

Accident Insurance
Accident Insurance

Does Your Employer Offer Group Accident Insurance?

Even if your employer offers group accident insurance as part of your terms of employment, however, the coverage may not be sufficient in case of a serious accident. For instance, accidental death coverage is necessary to help your loved ones cope with the financial burdens you may leave behind should you die. Accidental death is the direct consequence of an injury caused by an accident or an illness or body infection. Accidental death coverage can be added to your current insurance policy, in addition to basic death benefits.

What Does a Typical Accident Insurance Policy Cover?

A typical accident insurance policy covers:

  • Motor vehicle accidents
  • Injuries incurred in an accident at home or work
  • Permanent loss of a foot or hand
  • Permanent total loss in both of your ears
  • Permanent and total loss in both of hearing in just one ear
  • Permanent loss of sight in one eye 
  • Permanent loss of sight in both eyes
  • Loss of all toes on a single foot
  • Permanent total loss of speech
  • Loss of four fingers and/or a thumb
Interested in services we offer?