Guide to Accident Insurance Policies for Individuals

Accident insurance can include anything from pet accidents to transportation costs on body parts in the event of an accident while flying. While some of the risks associated with accident insurance are minimal, in other cases the risk may be greater. Assessing the risk of accident in one’s life, activities or work is an important step in deciding if and which type of accident insurance is necessary. This article will illustrate the types of accident insurance available and then discuss when it might be a good time to purchase a specific type of accident insurance.

Types of Accident Insurance:

There are many types of accidental insurance available. Each type covers a specific activity or event. Since different individuals may be exposed to different risks, not every type of accident insurance may be necessary. For example, a hang glider may consider sports accident insurance while a professional chess player may not. A few of the different types of accident insurance available are as follows:

*Sports and Recreation accident insurance
*Travel insurance
*Flight accidental insurance
*Personal accident insurance
*Occupational accident insurance
*Pet accident Insurance

When to Buy Accident Insurance:

Accident insurance can be purchased for limited time periods when one is more at risk of certain accidents or when traditional insurance policies don’t cover specific activities. For example, if one is employed in a job that involves a specific type of risk such as drowning, accident insurance may be available through the employer or private company to cover accidents associated with that job. Knowing what one’s risks are, and how long one will be exposed to those risks is an important factor in the decision to purchase accident insurance.

Accidental Insurance Costs:

The cost of accident insurance is generally quite low unless the risk which the insurance covers is very high. Typical premiums for many types of accident insurance range from a few dollars per month to the tens of dollars per month. In some cases deductibles are applied upon redemption of accident insurance claims, but these deductibles may only be a small fraction of the maximum coverage amount. Some companies may include some types of accident coverage within other insurance plans or the insurance may be a standard feature in a purchase such as a car rental. In such cases, reading one’s existing insurance policies to determine what one is covered for already may save money when traveling or considering accident insurance one may not otherwise need.

Where to Find Accident Insurance:

Accident insurance may be available through one’s existing insurance provider, employers, private health insurance companies or private companies that deal with more unique types of accident insurance. Contacting well known and credible insurance providers may be a good way to obtain additional quotes and information, however researching other companies via telephone inquiry and Internet research may also prove beneficial. For additional questions about misleading advertising, understanding insurance contracts, recent legal developments etc., one might consider contact insurance regulators and watchdogs such as the following:

*National Association of Insurance Commissioners
*State Insurance regulators
*Federal Trade Commission
*Departments of Consumer affairs at the State level

In summary, accident insurance is a specific type of insurance that individuals may pursue to protect themselves and/or their loved ones in the event of accidents causing damage to property or self in certain circumstances. The types of circumstances and events in which certain accidents may occur are many, and there are also several types of accident insurance tailored for such accidents. Some companies may offer a wide range of accident coverage within a single policy whereas other may not. This article has presented which types of insurance may be useful, when accident insurance might be worth considering and how to go about obtaining ancient insurance.