What Is Personal Accident Insurance – and Do I Need It?

The list of insurance options can seem endless at times, such as life, auto, home, renters, boat, health, and flood, among others. Another type of insurance is personal accident insurance for individuals and families. This insurance is typically used by those in high-risk jobs. Learn more about personal accident coverage to determine from our Gettysburg, PA, car accident lawyers and whether it should be added to your insurance bundle.

What personal accident insurance covers

Personal accident insurance is designed to “fill in the gaps” created by other insurance and therefore personally insure an individual or small group of people. It is a supplemental insurance that covers expenses from accidents resulting in injuries, including non-medical costs. Standard policy coverage includes:

• Injuries, such as lacerations, burns, broken bones, dislocations, eye injuries, dental injuries, and concussions
• Ambulance transportation
• Hospitalization costs
• Prosthetics and other medical devices
• Medical treatments, including out-of-pocket services
• General living expenses, such as rent, groceries, utilities, and child care costs
• Post-accident expenses, such as physical and occupational therapy

Policy payouts naturally differ, making it important for individuals to review their specific coverage. As a general rule, benefits increase in light of the injury’s severity. These policies are also free of co-pays and usually include small deductibles and premiums. Most premiums are between $5 and $50 per month per individual on the policy. There are also instances where employers offer personal accident insurance in conjunction with their group insurance plans, and may pay some of the premium.

Examples of instances where personal accident insurance applies

If you think you might need personal accident insurance but are not sure, common examples can help you make a decision. For example, say you use rental cars often. These cars typically come with collision insurance that protects the rental car in the event of damage, not the drivers or passengers. Supplemental rental car insurance also does not cover emergency medical expenses or provide accidental death benefits. Personal accident insurance fills these gaps to cover such costs if an accident should occur.

Should you drive frequently for work, consider personal accident insurance. While workers’ compensation covers a wide range of costs regarding worksite accidents, they might provide coverage for incidents outside of work that still relate to the job. For example, say an employee driving to a business conference or meeting gets into an accident. Personal accident insurance covers the resulting medical costs and other expenses. Since workers’ compensation does not usually cover general living expenses like childcare or rent during the employee’s recovery, personal accident insurance proves highly beneficial.

A non-driving-related example concerns an employee walking to work or stepping outside the premises for a break. If they are injured for any reason, such as a poorly-maintained sidewalk that caused them to trip and fall, personal accident insurance is helpful. While the employee can file a premise liability suit to recover damages, personal accident insurance provides coverage during legal proceedings that helps prevent debt.

What does personal accident insurance NOT include?

As with other forms of insurance, personal accident insurance does not cover injuries relating to risky behavior. It subsequently does not cover the following:

• Illegal activities, such as driving while intoxicated
• Skydiving
• Auto racing
• Bungee jumping
• Base jumping
• Self-harm
• Hang gliding
• Semi-pro or professional athletic competitions

Because personal accident insurance focuses exclusively on injuries, it does not cover preventative care, such as routine dental cleanings or prenatal care. It also does not provide coverage for prescription drugs. Most plans require filing a claim within a month or two of the incident, though deadlines naturally vary. Claims are usually processed in two weeks or less and are paid directly to the individual.

Benefits of personal accident insurance in Gettysburg, PA

This supplemental insurance offers numerous advantages, including:

• Reduced medical expenses: Sustaining a serious injury is rarely inexpensive. Personal accident insurance mitigates the costs relating to the accident, which helps you or an injured family member recover with as little stress as possible.
• Family security: When an accident leaves an individual with a family partially or fully disabled, the household income takes a hit. Supplemental accident insurance provides total financial security in the event of an accident to help families dealing with loss of income-related issues and expenses.
• Retirement security: This insurance option can be used as a long-term savings account that helps you and your family plan for the future. It can be used as part of a comprehensive retirement plan, along with a 401(k), health savings account, and CD.
• No medical testing necessary: There is no need to undergo medical testing with personal accident insurance. Filing the paperwork for said insurance is usually uncomplicated, because these policies do not require lengthy dissertations about the injuries. Claim settlements are subsequently easy–all the insurance company needs is the time and date of the incident, the policy number, contact information, and details about you, the policyholder.
• Child education benefit: Some policies cover child education costs if the policyholder is permanently disabled or perishes because of their injuries. Coverage can include up to $10,000 for up to two children, depending on the policy.

If personal accident insurance sounds right for you, discuss it with an attorney. A professional opinion on the best policies for your needs helps you make an informed decision and make certain you are covered where you need it most.

Contact the team at KBG Injury Law with your insurance questions today. We provide clients throughout Gettysburg, PA, and the surrounding areas with a full suite of personal injury services, including workers’ compensation and wrongful death, among many others. Call our office or submit our contact form to schedule a free consultation with a car accident attorney today. We also maintain offices in York, Lancaster, Hanover, and Harrisburg.