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Accident Insurance

A Guide to Accident Insurance


As the old adage goes, “accidents will happen.” It’s inevitable for the vast majority of us that, at one time or another, we will be faced with one. Certainly any physical injuries experienced from accidents can be pain inducing and may result in many weeks of recovery, but some might think the financial consequences of an accident to be even more painful, not to mention the hassle to deal with it all over time. With such burdens as multiple visits to the emergency room, any requisite treatment and medications, potential hospitalization and longer term therapy to contend with, it is important to take into account how it all can add up to many thousands of dollars (or even more in some instances). Good accident insurance is designed to assist the policyholder in paying for the lion’s share of these costs. Read on to discover if this extraordinary protection is beneficial for you to obtain.

What it is

Accident insurance policies do vary, so it is highly suggested to compare and contrast plans and to explore what your individual needs and preferences might be. For instance, it is normal for this type of coverage to compensate a policyholder for any initial treatment costs in the aftermath of an accident, like visits to the emergency room, necessary x-rays, transportation services and even surgery and needed medical devices resulting from the accident. More modest policies will put limits on the kinds of injuries they will cover. Generally this type of a policy will include coverage for injuries to the eye, cuts and abrasions, muscle tears, bone fractures, dislocations and even burns. Policies that are more comprehensive can also pay out for hospitalization, accidental death, dismemberment and so on.

Learn Policy Details

If you wish to move forward and choose wisely which policy is best for your specific needs and circumstances, be sure to fully investigate what the co-pay, deductible and premium costs will be since your budget will likely play an important part in the consideration. Co-pays are upfront payments mandated before you can receive treatment. A deductible is a predetermined portion of the total cost that you agree to pay prior to the insurance policy kicking in to cover the rest. Premiums are the regular payments you make, usually monthly or semi-annually, to keep coverage in effect. Before you sign on that dotted line, make sure that you can pay these various costs if/when the time comes.


Medical costs can be overwhelming for many to pay. If you wish to enjoy the peace of mind in knowing that you won’t be burdened with large out-of-pocket costs after an accident occurs, then this may be the perfect policy coverage for you. Speak with an insurance professional to further explore the many coverage options afforded to policyholders. Next, purchase the coverage you need so as to be properly prepared for the unexpected.