Accidents Happen. Make Sure You’re Covered When They Do
All accidents are preventable in some way or another. Yet, accidents are an inevitable part of life. Accident insurance can safeguard against the unexpected and provide reassurance to the policyholder that some of the costs incurred by an accident could be covered in the policy.
Accident insurance covers a wide range of possible injuries over the long-term. Policies vary, but coverage can include emergency room visits and treatment depending on the type of injury and intervention required. Injuries possibly covered are:
•Fractures or dislocations
Situations usually not covered include:
•Acts of God or natural disasters
•Accidents caused by negligence
•Accidents resulting from risky behavior not covered in the policy
The type of accident coverage will depend on individual circumstances and the reason for wanting the insurance. Some people may need it because of a lack of insurance in general. Others are concerned about the financial health of the family in the event of accidental death or permanent injury to the family breadwinner.
Common coverage includes:
•Industry accidents for working in risky fields
In the event of an accident, a review of the accident policy will be necessary as policies differ in terms of coverage. The insurance company needs to be contacted. An adjuster will be in contact to assess damages and document the details of the accident, including where it occurred, who was involved, the type of injury and any treatment received. Once a claim is submitted, a settlement will be determined according to policy specifics. Policies can become extremely particular, sometimes dictating certain amounts to certain losses or injuries. Likewise, payouts vary and depend on these situational factors.
Accidents cannot be predicted, but steps can be taken to procure coverage if they happen. Accident coverage offers some protection against the unknown, which can help prepare for unforeseen expenses. In the best-case scenario, the insurance will never be needed, but if an accident does occur, the proactive decision to purchase coverage will likely be proved worthwhile.