When an accident occurs, it is possible that the resulting costs could exceed what your health insurance will pay. You might miss several weeks of work and have no income. Accident insurance provides supplemental income to help you pay for expenses.
This type of supplemental policy pays if you are injured in an accident. The accident could occur at work or elsewhere. Accident policies are often offered as a workplace benefit, but such policies usually are not limited to workplace accidents.
Is this Coverage for Everyone?
Technically, anyone can get this insurance. But it is particularly recommended for people with jobs that don’t provide sick leave and are high risk. Jobs that fall into this category include construction and other manual labor jobs. You also might want to consider a policy if you are a single parent.
The policy works like any other insurance policy. When you have an accident, you must make a claim to the insurance company. Once the insurer determines that your policy requirements have been met, it will pay the policy benefits.
The purpose of accident insurance is to get financial help beyond what is provided by other policies. If you are in a high-risk job, then you might want to consider this coverage. Speak with an insurance agent to discuss your options.