7 Ways Accident Insurance Saves You Big Time

7 Ways Accident Insurance Saves You Big Time

It’s something you hope you never have to use. Accident insurance can save you big time in case of an unfortunate incident where you would need coverage. All it can take is one accident to cost you big time in the financial sector of your life. Accident insurance can save you both money and financial troubles if you are ever at fault for or involved in an accident.

Typically, you choose an accident insurance plan with a dollar value when selecting coverage. For example, a $100,000 policy, a $500,000 policy, etc. and pay monthly/quarterly/semi-annually/annually based on the amount of coverage you elect to have. The policy will cover expenses up to the dollar value of your plan if you are ever in an accident.

The following are 7 ways that accident insurance can save you big time if you ever need to claim it:

  • Covers Your Initial Care After an Accident: If you are injured in an accident, your accident insurance will cover your initial medical costs and care. For example, if you broke a bone and need a cast or require surgery, your accident insurance covers that cost. These initial care options cover required services such as ambulance rides and emergency room visits which can be costly.
  • Payments Made to You Unless Otherwise Specified: You can determine who you want to give the amounts to if you are injured. The fees can be payable to you (or someone else), and the insurance company makes the payments to them in the event of an accident. That money can be used to cover expenses and costs related to that accident.
  • You Can Get Coverage For Your Family: Accident insurance plans cover you in the event of an accident, but can also include your spouse and eligible, dependent children, if they are involved as well. You will have to specify who you want the plan to cover. But, you will have to declare who this policy is intended to include up front when you purchase it.
  • Coverage on the Job: If worker’s compensation isn’t coming through in the way you need to or is taking too long, most accident insurance will cover on-the-job accidents. Some policies believe “an accident is an accident” and provide you with cash up to the value amount of your policy, whether your accident is work or life-related.
  • No Extensive Medical Questionnaires: Most basic insurance policies will not require you to answer extensive medical background questionnaires to obtain a coverage policy. Many people are covered by most basic insurance policies. This makes it hassle-free to get an accident policy to cover yourself and your family.
  • Your Benefits Don’t Get Reduced By Other Insurances You Have: If you have a policy, you are given up to the full value of that policy in the case of an accident. For example, if you have a $25,000 policy and have $30,000 in hospital bills from surgery, you will get the entire value of the $25,000 for bills. You can get the full value even if you have insurance with other companies as well.
  • You Get a Peace of Mind From Knowing You’re Covered: Finally, you can have peace of mind knowing you are covered in the event of an accident. Knowing that your family is not going to suffer financial ruin from an accident helps everyone rest at ease.

These many ways that your accident insurance policy can save you money if an accident happens in the future. Many people think accidents can’t happen to them, but accidents can happen to anyone. While rare, they are worth protecting yourself and your family from in terms of the possible long-term financial damage.

For information on getting an insurance policy that meets your family’s needs, feel free to contact us at Branco Insurance Group’s phone at 203-723-8500. We will be happy to assist you in finding an accident insurance plan that meets your needs.


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