Accident insurance covers some accidents that cause a person to have high out of pocket medical costs. These costs can include hospital stays, physical therapy and surgeries. When offered as a workplace benefit, the insurance only applies to accidents that happen while the person is working – either onsite or offsite. Not all employers offer accident insurance.
Anyone can benefit from accident insurance. A range of expenses can result from being in an accident. This can include anything from hospitalization to physical therapy. The injured person will also have to deal with standard living expenses, such as mortgage payments and utility bills. The bills don’t stop just because a person is injured. Accident insurance covers this to ensure the policyholder doesn’t also suffer monetarily while recovering. A good candidate for this insurance is anyone who works with heavy machinery or involves a lot of heavy lifting.
The insurance is straightforward. It works by covering expenses related to an accident. If the accident is a covered incident, then the insurance company will expect the injured person to file a claim. Once this is done and the accident is verified, funds will be given to the insured person.
This insurance generally covers typical medical care, including accidental death and dismemberment, hospital care, initial care and follow-up care. It can also cover ambulance fees and stays in the hospital. Optional benefits include intensive care, bone fracture injuries, disability and coverage for a spouse and children.