Accident Coverage Insurance — Financial Protection When Accidents Happen
Accidents are the leading cause of emergency room visits and a major source of unexpected medical costs. Accident insurance pays benefits for covered injuries on top of whatever your health insurance pays.
How Accident Insurance Works
Scheduled Benefit Payments
Accident insurance pays a schedule of benefits based on the type of injury. A specific amount for a fractured arm, a dislocated shoulder, a burn, an ER visit. Benefits are predetermined, not based on actual costs.
Pays on Top of Health Insurance
Accident insurance pays regardless of what your health plan pays. If you break your wrist, your health insurance covers the treatment and accident insurance pays you an additional scheduled benefit.
Covered Injuries
Common covered injuries include fractures by bone type, dislocations, burns by degree, lacerations requiring stitches, concussions, eye injuries, torn tendons and ligaments, and accidental death and dismemberment.
ER and Hospitalization Benefits
Beyond specific injuries, most accident plans pay a benefit for the ER visit itself and for any resulting hospitalization, helping offset the out-of-pocket costs of accident-related emergency care.
On and Off the Job
Accident insurance typically covers injuries both on and off the job. 24-hour coverage is the most common and most valuable option, unlike workers compensation which only covers on-the-job injuries.
Physical Therapy and Follow-Up
Many accident plans include benefits for physical therapy, chiropractic care, and follow-up physician visits following a covered accident, covering ongoing recovery costs.
Who benefits most from accident insurance
- Parents of active children and teenagers
- Athletes and active individuals
- Households with high-deductible health plans
- People in physically active occupations
- Anyone whose out-of-pocket costs would be a financial strain
- Self-employed without generous employer coverage
What accident benefits typically cover
- Fractures: $50 to $5,000 or more depending on bone
- Dislocations: $200 to $2,000 or more depending on joint
- Burns: $100 to $1,000 or more depending on degree and area
- Lacerations: $25 to $200 or more depending on severity
- ER visit: $100 to $300 per visit
- Hospitalization: daily benefit during inpatient stay
- Physical therapy: per-visit benefit
Plan Options
Accident insurance comes in several configurations. We compare plans from multiple carriers to find the best fit for your situation and budget.
Individual Accident Plans
Coverage for a single individual. The most affordable option for single adults without dependents.
- Covers individual only
- Lowest premium
- Good starting point
- Upgradeable to family coverage
Family Accident Plans
Covers you, your spouse, and children under one policy. Typically the best value for households with active children.
- One premium covers all family members
- Children's sports injuries covered
- Both parents covered
- Most popular option for families
High-Benefit Plans
Plans with higher scheduled benefits providing more meaningful financial protection for serious injuries.
- Higher fracture and dislocation benefits
- More valuable for severe injuries
- Higher premium
- Consider with high-deductible health plan
24-Hour Coverage
Covers accidents on and off the job, at home, and anywhere in the world. The most comprehensive and most common option.
- On and off the job coverage
- At home, work, and during travel
- Worldwide coverage
- Recommended over off-job-only coverage
Off-the-Job Coverage
Plans that restrict coverage to off-the-job accidents. Less expensive but leaves you unprotected for workplace injuries beyond workers compensation.
- Lower premium
- Off-the-job injuries only
- Workers comp covers on-job injuries
- Evaluate based on your occupation
Accident and Critical Illness Bundle
Some carriers bundle accident and critical illness coverage providing both scheduled accident benefits and lump-sum critical illness protection in one policy at a discounted rate.
- Combined accident and CI in one plan
- Single premium, dual protection
- Often discounted vs. separate policies
- Good value for comprehensive supplemental protection
Frequently Asked Questions
Everything you need to know about accident coverage insurance and how it works alongside your health plan.
Health insurance covers a broad range of medical services based on actual costs, subject to deductibles and copays. Accident insurance pays a scheduled benefit based on the type of injury, a predetermined amount regardless of actual medical costs. Both can pay for the same accident.
Yes. Most accident insurance covers sports injuries as off-the-job accidents. Some plans have exclusions for extreme or hazardous activities, so review the policy for specific exclusions relevant to your activities.
Yes, and accident insurance is particularly valuable with an HDHP. The scheduled accident benefits help offset the high deductible you would owe on an ER visit or hospitalization following an accident.
Accident insurance covers injuries from sudden, unexpected accidents. It does not cover illness, pre-existing conditions, or conditions that develop gradually. An injury from a car accident is covered; a back injury from repetitive strain typically is not.
For active individuals, parents of children in sports, and households with HDHPs, accident insurance provides meaningful value at a low premium, typically $15 to $40 per month for individual coverage. The question is whether the premium is worth the protection against an unexpected injury that could generate significant out-of-pocket costs.
Financial protection when the unexpected happens.
Accident insurance pays scheduled benefits for covered injuries on top of your health insurance, for whatever you need the money for.