Accident Insurance

Health insurance helps to cover medical costs when you’re in an accident. But that doesn’t extend to helping you pay non-medical expenses following an accident. If you can’t work because of your injury, then medical insurance can’t help you. That’s when accident insurance is useful.

This type of policy pays you a benefit if you’re injured in an accident. That means you can pay your living expenses should you be unable to work because of your injury. You might be able to get this type of policy as part of a voluntary benefits plan at work.

Anyone can get this type of policy, but it is especially useful for people who would struggle if they lost the ability to work. This includes the self-employed and those who are sole income earners. Accident policies are also recommended for people with dangerous jobs, such as police officers.

Accident policies pay a lump sum when you are injured in an accident, provided the type of accident is covered by the policy. This sum usually is paid directly to the insured rather than to a hospital or medical provider. You can use the money for any purpose you want. You might also need a doctor’s certification of your injury before receiving your benefit.

Accident policies offer standard coverage, but they vary in small details. Though most policies issue a lump sum, others only cover medical expenses that are not covered by health insurance. Some accident policies also cover illnesses that cause you to become disabled.


The benefit of accident insurance is receiving financial assistance when you’re unable to work. You’ll be able to pay your expenses without worrying about where to get the money.