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What is Accident Insurance?

What is Accident Insurance

We understand that in life sometimes accidents happen. When they do, a supplemental accident insurance plan helps protect your finances until you are back on your feet. Your health insurance may cover the costs of a fall from a ladder or a sports injury, but accident insurance can help fill in the gaps by providing cash benefits for additional expenses while you recover from your injuries.

How accident insurance works

Accident insurance pays cash benefits for injuries resulting from an accident. You pay a monthly premium for coverage, so you are prepared when those unexpected life events come your way. Even if your health insurance covers 100% of your medical costs from the accident, you may still receive benefits from your accident insurance plan.

What does accident insurance cover?

Every accident insurance plan differs based on the injuries covered in your plan, the severity of the injury, and treatments for recovery. Here are some of the injuries that may be covered by accident insurance:

  • Accident-related injuries such as broken bones or dislocations, burns, dental and eye injuries
  • Ambulance services
  • Emergency room care or urgent care
  • Diagnostic testing such as X-rays and CAT scans
  • Hospital treatment and surgical care for your injuries
  • Physical therapy and rehabilitation

Understanding the details of your plan's coverage can help ensure that you have protection in place for you and your family.

Questions to ask when deciding on accident insurance coverage

  • What injuries are covered by the plan?
  • What injuries are not covered?
  • How quickly do you receive your payment when an accident occurs?
  • Will you receive a lump sum or monthly payments?
  • Is a medical exam required to qualify for the plan?

How to use accident insurance benefits

Most accident insurance plans typically become effective within days of application and the payment is made directly to you. There are no deductibles, copays, or coinsurance. Once you receive your benefits, you can use the cash to cover many of the costs incurred while recovering from your injury.

  • Cost-of-living expenses while recovering
  • Home care for you
  • Day care for your children while you recover
  • Transportation to rehab or treatment centers
  • Medical costs not covered by health insurance
  • Deductibles and out-of-pocket expenses from your health insurance plan

Is accident insurance worth it?

The monthly premiums of most accident insurance plans are typically low in cost, which make them cost-effective add-ons to your health insurance coverage. You may want to think about accident insurance if you and your family lead an active lifestyle, your health insurance offers only limited coverage, or if out-of-pocket expenses from an accident would be costly with your current health insurance plan.

Rounding out health insurance with supplemental insurance coverage

Accident insurance is just one of many supplemental insurance plans that can complete your health insurance coverage. Serious illness and hospitalization are some of the “what ifs” you may also want to consider when supplementing your health insurance plan.

Critical illness insurance pays cash benefits when diagnosed with a serious illness, helping you pay bills and afford essential services you may need like home care while recovering from an illness.

Hospital indemnity insurance pays cash benefits that may cover inpatient hospital stays due to injury or illness as well as expenses while you are recovering at home.

Choosing the right accident insurance plan

Anthem can assist you in selecting an accident insurance plan that compliments the lifestyle of you and your family. Learn more about how supplemental insurance and your health insurance plan can work together to help you stay protected from the unexpected.

For more information, call us at: 888-811-2101 (TTY:711), Monday through Friday, from 8 a.m. to 5 p.m. ET.