Is Accident Insurance Worth It?

Is Accident Insurance Worth It

With how unpredictable life is, do you ever know what awaits in the next corner of the road? You don’t. So, you might be asking if accident insurance is worth it.

You never know if anything is to happen to you or your loved ones. Insurance serves exactly this purpose. There are multiple insurances available in the market that serve different purposes to help protect the insuranceholder when they need it the most.

You have dental, medical, and even vision insurance. You also have life insurance and disability insurance. If you can have all these insurances thinking they are worth it, then there is nothing wrong with having accident insurance. It is, in fact, for your protection only.

Is this what you have been thinking? But does accident insurance guarantee financial protection in case of an accident? Maybe not. Accidents may happen anytime and anywhere. They result in unpredictable medical bills, transport costs, and multiple other expenses. This is where accident insurance comes in. It helps in mitigating the entire financial burden that an accident may bring in and helps you entirely focus on recovery.

So, is accident insurance worth it? Well, we shall find out. In this article, we shall unwrap everything about accident insurance and find out if they are actually worth it.


Is Accident Insurance Worth It? 

Let us have a look at an example to make things easier. Let’s say you fell from the stairs while hurrying for work. This is an accident that may cause severe damage to your body and may bring in multiple expenses that you would have to pay otherwise. These expenses may include medical bills, hospital bills, and even the cost of regular checkups.

To be extremely honest here, these are expensive. If you did not already know, medical costs in America are always touching the roof. Therefore, trying to pay for all those expenses will make you wonder why you got into the accident in the very first place.

The entire burden of getting in an accident does not end at the hospital. There are multiple follow-up actions that are not very cheap either.

However, if you already have accident insurance, things may get quite easy for you. While they may not guarantee full financial coverage, even a little something is still good,

If you are still not convinced, let me give you a few more reasons why your accident coverage is worth it.

Accidents Are Lot More Often Than You Think 

It is very easy to think that we would never get into an accident. However, it is only a thought. Accidents are more common than you can ever imagine. In fact, the emergency rooms in the United States get approximately 38 million visits from accident patients in a year. Children and kids are more prone to accidents. Every year, more than 775,000 kids visit the ER for treatments due to accidents. So, if you feel like accident insurance is not worth enough for you, maybe get one for your children.

Accidents May Put Anyone Out Of Work 

The worst part about an accident is that you never know the severity of it. Something that you feel is only a light sprain may end up being a severe fracture or dislocation. You never know when you will have to stay in the house for three months or more due to the severity of the accident.

During this time, you would need a source of financial support. Accident insurance fits exceptionally well with disability insurance. These insurances make sure that your source of income does not cease even when you are not able to work.

When You Have The Accident Insurance, It Would Not Matter If You Are Having A Preexisting Condition Or Change Your Job 

As long as you are working actively, typically, you get guaranteed coverage. This means there would be no involvement in any biometric exams or questionnaires. You will get coverage no matter what your health condition is.

Accident insurance is also portable. This means even if you are changing jobs, you may get the benefits of the insurance as long as you are meeting all of the criteria.

There Is A Lot More Than Accident Insurance Covers Than Just Injuries

Multiple plans come with the ancillary benefits when someone loses a limb, has paralysis or blindness, or even dies accidentally. When you have extra protection, you may keep yourself and your loved ones from facing the entire financial impact of a very severe accident.

Who Should Get Accident Insurance? 

Even when you have some of the most extensive precautions, accidents will occur if they have to. No one really has control over these circumstances. This is why having an accident is very important. It doesn’t matter where you are from and what job you associate with; it is always wise to get insurance, irrespective of these factors.

As per expert advice, the accident insurance you pay for has to be at least ten times what you earn yearly.

Here is a list of all those individuals who should definitely be investing in accident insurance:

  • If you are the only earning person in your family, please get accident insurance.
  • If your job is associated with activities that are dangerous in nature, this insurance is for you. Contractors, builders, engineers, and individuals, as such, should invest in accident insurance.
  • People who do jobs involving driving on the highway.
  • Employees who carry cash are always at high risk; therefore, they must invest in accidental insurance.

What Do Accident Insurance Covers? 

Here is a list of all the accidents that the accident insurance will cover:

  • The accidental death of the policyholder.
  • Permanent or partial disability due to an accident.
  • Hospitalization expense and other medication coverage.
  • Child education expense coverage.
  • Burns, coves, and any fractures related to an accident.
  • Daily allowance of cash.

What Does Accident Insurance Not Cover? 

Following is a list of all the instances that accident insurance would not cover:

  • Natural death
  • By birth or pre-existing disabilities
  • Pregnancy or childbirth
  • Injuries due to war or any riots
  • Self-imposed injuries
  • Mental disorders
  • Injuries caused due to any adventurous sports activities

The Bottom Line

Is accident insurance worth it? Well, it definitely is.

Medical expenses in the United States are expensive. When you get in an accident, there is already a lot to think about; therefore, dealing with the financial burden may just be unnecessary.

When you have accident insurance, it makes sure that all of these expenses are covered. This insurance will also ensure that you and your family have enough financial support during a time when you may not have a stable income source.

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Upasana is a budding journalist who has a keen interest in writing. She considers writing as therapeutic and is most confident when she writes. She is passionate about music, movies and fashion. She writes in a way that connects with the audience in a personal level. She is optimistic, fun loving and opinionated.


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