Health insurance covers accidental injuries, so why would you need a plan just for accidents? While high-deductible plans can give you low premiums every month, it can also expose you to greater financial risk when you get into an accident. You must pay off the annual deductible before your coverage kicks in. To avoid this risk, most people get a personal accident insurance plan.
An accident insurance plan is very affordable. You only have to pay a fixed $100 deductible to get coverage even without meeting your high deductible. Coverage can range from as low as $2,500 up to $10,000 per accident per member. It also doesn’t restrict you to provider networks to get full coverage like most health insurance policies do.
A personal accident insurance plan with $10,000 worth of coverage could pay out up to $10,000 when your daughter breaks her legs and needs physical therapy. If your son breaks his arm that same year, the same plan could pay out up to $10,000 for that accident. With accident insurance, every person on the policy is covered no matter how often they get hurt and you’ll only have a $100 deductible no matter how often you need the coverage.
Accident & health insurance plans work to complete your coverage while still keeping your monthly premiums as low as possible. Who wouldn’t want more coverage for the lowest cost? In these times, it’s smart to save wherever you can.