Health insurance

Best accident health insurance • Benzinga

Want to skip straight to quotes? Compare here and find the cheapest premium with the best coverage.

Accident insurance is health insurance that pays your medical expenses in the event of an accident. Many employer insurance plans are moving to higher deductible policies to lower their premiums. The cost is passed on to you as the policyholder and accident insurance can help.

The best accident insurance

Like what you see? The next step is to find the best accident insurance policy for you. It means finding the best company. Let Benzinga get you started with the following list of top insurers.

Combined Insurance Company of America

Based in Chicago, Illinois, the Combined Insurance Company of America is a provider of life insurance as well as popular supplemental policies such as critical care coverage and accident insurance. The company’s Accident Protector program provides cash benefits directly to you for accidents such as burns, falls, and poisonings. Proceeds from a Combined Insurance accident insurance policy can be used to pay for medical and even non-medical expenses.

Accident plans include:

  • Daily hospital allowances including intensive care
  • Ambulance reimbursement benefit (in addition to hospital benefits)
  • Recovery Benefits
  • Recovery benefits after outpatient surgery or fracture

The accident insurance pays the benefits directly to you. Payments begin on the first day of your accident and are made at least 10 days after hospitalization.

American International Group (AIG)

American International Group (AIG) is one of the largest and best-known insurance companies in the world. In addition to health and life insurance, the company sells supplementary policies such as accident insurance.

AIG treatment/benefit payments, for example, for a hip injury look like:

Ambulance Up to $500
Emergency room treatment Up to $500
Hip surgery treatment Up to $1,500
Follow-up visit with PCP Up to $500
Rehabilitation cure (up to 6 days) Up to $100 per day

Total payout: up to $3,500. Remember that payments go directly to the policyholder, not the medical provider. In this example, if you don’t need a follow-up visit with your PCP or even rehab, you keep the $650.

Liberty Mutual

Liberty Mutual Group is a global insurer and the third largest property and casualty insurer in the United States. In addition to property and casualty, home and automobile insurance, the company offers accident insurance. Personal accident insurance covers:

  • Deductibles, co-payments and coinsurance
  • Assistance and recovery costs, including daycare and grocery delivery
  • Physiotherapy payments

Additional coverage options include:

  • Benefits of Hospital Immunity: hospitalization costs, stays and medical examinations
  • Emergency benefits: ambulance and emergency care
  • Additional Benefits: outpatient therapy, accommodation and more

Cash benefits are paid directly to you, the policyholder. The money is paid separately from any other health insurance benefits, and you can use the money for anything you want.

Guardian life insurance

The Guardian Life Insurance Company of America is one of the largest mutual life insurance companies in the world. In addition to life insurance, the company sells supplementary policies such as accident insurance. Group and personal accident insurance is available.

Money from cash payments can be used to pay medical bills, childcare, or anything you want, including your mortgage payment. The company’s Rainy Day Fund allows for additional services even when the insured exceeds their maximum number of treatments or visits. Funds start at $500. Options such as automatic increase provide policyholders with 5% additional benefits each year for 5 years.

Best accident health insurance

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Buddy technologies

Buddy Technology offers the world’s first and only on-demand accident insurance. With Buddy Technology’s Adventure Insurance, athletes and outdoor enthusiasts are now covered from one day to one year.

Founded in Richmond, Virginia, the company’s mission is to ensure that all active outdoor activities are protected by insurance. Signing up is as simple as visiting the company’s website and clicking on the plan of your choice. Just like that, you are protected. The benefits do not require any coordination with traditional health insurance.

Accident insurance: super supplement

Whether you’re looking to purchase an accident insurance policy on its own or to supplement your already existing health insurance, accident insurance is an affordable way to add coverage or fill in the gaps. For those with existing health insurance, the money they earn from accident insurance can be used to pay the deductible, co-payments, or coinsurance. Let Benzinga help you find the best accident insurance for you.

What is accident insurance?

Accident insurance, also called accident expenses, is supplementary insurance. It only covers you in the event of an accident. Because it focuses on just one thing, the premiums are much cheaper than a standard health insurance policy.

Accident insurance is health insurance with an added twist: it is also a life insurance policy. Accident insurance pays for your medical expenses if you have an accident, but if you die, your beneficiaries get the money, just like a life insurance policy. Proceeds from accident insurance can be used to cover:

  • Emergency treatment
  • Hospital stays
  • Medical exams
  • Stationery
  • Accommodation
  • Final expenses

Best of all, you can use the perks however you want. Benefits are paid directly to you, not your health care provider, so you can do whatever you choose to do with the money. You can pay your medical bills or pay your mortgage. You can use the money for childcare or to help pay for your children’s college.

Why have accident insurance?

Whether or not you have health insurance, accident insurance can be a good idea. For people who already have health insurance, accident insurance is an excellent complement. Standard health insurance rarely, if ever, pays 100% of your medical costs. For those with health insurance, accident insurance is a great way to fill the void, especially with personal expenses.

For those who can’t afford standard health insurance — or perhaps because they’re young and healthy, don’t think they need it — accident insurance is an affordable option. This is a catastrophic policy, meaning you only need it if something goes wrong. Most accident insurance policies cost as little as $6 to $20 per month. Deductibles are not as high as with a standard health insurance policy.

Advantages of accident insurance:

  • The money is paid directly to you.
  • You choose how you spend the money.
  • It provides extra protection for child athletes.
  • Premiums are cheap with low deductibles.

How does accident insurance work?

Accident insurance benefits vary depending on the severity of the injury. Let’s say for example that you have an accident and you are burned. If you suffer second degree burns on less than 10% of your body, the payment will only be approximately $200. For third degree burns, you could receive $1,000. For third-degree burns on one-third or more of your body, you could receive $5,000.

You could get $600 for a broken rib requiring surgery, but up to $7,500 for a broken femur. For qualified hospital admissions, you could get $800 and up to $100 for an ER visit. When the injuries are more serious, that’s when you could receive tens of thousands of dollars. The more serious the accident, the higher the payment.

What does accident insurance cover?

Accident insurance covers almost everything that happens as a result of an accident. This can mean:

  • broken bones
  • burns
  • Lacerations
  • Eye injuries
  • Coma and paralysis

For severe accidents involving coma or paralysis, payouts can reach $50,000 or $60,000. If you die, the payment to your beneficiaries could even reach $350,000.

To be eligible for payment, your accident must be specifically identified by your insurance company. Accidents due to suicide or attempted suicide and accidents resulting from illegal activities such as drunk driving are not covered. If you are actively pursuing an illegal activity that is causing the accident, your claim will be denied.

Frequently Asked Questions

Is it a good idea to take out accident insurance?

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Is it a good idea to take out accident insurance?

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Philip Loyd, Licensed Insurance Agent

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If you are young and healthy, you may not feel the need for a standard health insurance policy. They are expensive and many young people today choose not to have coverage at all. They don’t have to. For just a few dollars a month, a healthy young person can rest assured that should anything happen to them, they will be covered. For those who already have coverage, it gives them peace of mind knowing that if they, too, are in an accident, they won’t have to worry about meeting those high deductibles, copays, or coinsurance.

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What is considered an accidental injury?

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What is considered an accidental injury?

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Philip Loyd, Licensed Insurance Agent

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Merriam Webster defines an accident as an injury occurring as the unforeseen and fortuitous result of a voluntary act. In the real world, accidents happen all the time, like burns, scalds, falls, and poisonings. In 2015, more than 30 million accidental injuries resulted in emergency room visits. – almost 150,000 of those who were driven to death. Accidental falls, motor vehicle accidents and poisoning top the list.

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