Accident insurance provides you with cash to help pay the expenses that come up after an accidental injury. The medical insurance you have through your employer will pay for medical treatment after an accident, but there are other bills that medical insurance will not pay. For example, you may have a deductible to pay or hotel expenses while you wait for someone to get out of the hospital if an accident happens far away from home.
Anyone can benefit from having this kind of insurance, but families with children, active outdoors or sports enthusiasts, or people who travel a lot will use it the most. Children and active people tend to have more accidental injuries. People who work or vacation away from home will have lodging and eating expenses after an accident.
After an accident, you go to your insurance providers website and find the list of documentation needed to file the claim, such as emergency room bills. You can take a picture of your documents with your cell phone and upload them to the website. Your insurance company will then process the claim and direct deposit your money into your bank account. If you don’t have access to a smartphone or a computer, you can file your claim by fax or snail mail. Also, if you don’t sign up for direct deposit, your insurance company can mail the check to you.
There are different types of accident insurance. The most popular is cash for accidents as we have discussed above, but there is also accidental death and accidental disability insurance. Accidental death insurance pays your heirs a set amount of money if you die in an accident. It is cheaper than regular life insurance, so is often used by healthy people who would be more likely to die in an accident than from an illness. Accidental disability insurance provides money for bills if you become disabled from an accident and can’t work.
This kind of insurance can help protect you, your family, and your ability to pay your bills.