You and your family’s health is priceless. Recovering your health from unexpected injuries comes at a very surprisingly high cost. The unforeseen medical bills set you and your family back up financially. A survey found that below 50% of adults have 3 months of savings for emergency expenses like unexpected hospital admission.
To prepare yourself from possible accidents or injuries is with accident insurance, providing funds to pay for unexpected expenses after an injury. A medical plan leaves you with the extra costs covering that insurance plan to pay for the bills. An insurance plan to cover accidents helps you recover from the accident or injury.
What does the insurance cover?
Coverage varies according to the plan, but most of the policies cover the following:
- Ambulance services
- Broken bones and fractures
- Concussions
- Burns
- Emergency room visits
- Dislocations
- Follow-up care
- Hospital stays and surgeries
- Physical therapy
Some policies will offer dismemberment and accidental death benefits, providing financial support for more fatal and serious injuries.
Is this insurance a good idea?
Nobody knows when an accident will occur, making anyone benefit from accident insurance. It can be beneficial when you and your family have an active lifestyle that increases the risk of accidents. Getting this insurance plan is good if you are not receiving the following:
- paid time off
- sick days
- workers’ compensation
Why do you need this insurance while you have health insurance?
Most people assume their regular health insurance covers everything. Deductibles and copays leave you with hefty bills. An accident insurance policy helps bridge the gap. It can give you a cash payout to be used when you need it, such as:
- medical bills
- rent
- groceries
- child care
Claim your insurance
Notify your insurance provider!
As soon as the accident happens, let the insurance company know. Most insurance providers have a time limit for the claim to file, such as 30 days.
Notify the insurance company by doing the following:
- Calling their customer service
- Logging into their office website
- Starting a claim online or sending an email
- Claim all the necessary documents
Insurance companies need proof of accidents and related medical treatment. The exact documents may vary by the provider, but they usually ask for the following:
- Completed claim form
- Doctor’s statement or medical report
- ER or hospital bills
- Proof of diagnosis
- Police report
- Insurance policy number
Submit your claim
You can submit everything online via email or through an app. Ensure all the forms are filled correctly, to avoid delays.
Wait for the processing
The insurance company will work on the form for the claim by reviewing the documents to verify the information. It helps them determine the amount you are eligible to receive while making the review.
The process may take a few days or weeks, it depends on the complexity of the filed claim.
Conclusion
An insurance claim helps with your expenses for hospitalization and medication. Purchasing an insurance policy helps deal with your finances to fully recover from an injury caused by an accident. Having this kind of insurance can help provide for the expenses for the treatment without getting from your income.