Benefit of Accident Insurance
Accidents happen all the time. You could be at work, at home, or even out having a good time when a mishap occurs. Accident insurance lessens the burden of medical expenses when an accident strikes.
How Does This Insurance Work?
If you buy your own policy, then will be activated at the time you need assistance. If you have coverage sponsored by your employer, then it will be initiated by your employer once an accident occurs.
Types of Coverage
Individual insurance covers doctor visits, therapy, surgical procedures, medical treatments and some prescriptions drugs. In most cases, you can include your spouse or your child on your policy. Group insurance is practically the same, but it is obtained through an employer or other group organization. Workman’s compensation is a form of accident insurance that is mandatory for employers to provide. It pays medical costs associated with injuries sustained on the job.
Environmental liability insurance is accident insurance for a business. A business that handles dangerous materials needs this coverage for potential industrial accidents. It protects the public from the costs of medical bills related to exposure from dangerous materials.
As with any insurance, the main benefit is having help to pay certain expenses. You will probably have a copay and a deductible, but it will keep you from paying the largest portion of an expense. Talk to an insurance agent to learn more about accident insurance.