Accident insurance covers you, the policyholder, following certain accidents. The type of accidents covered depends on your insurer. The policy could cover vehicle accidents, boating accidents, work injuries and more.
You can use this type of policy even if you already have another type of insurance. You might have car insurance or life insurance. But an accident policy will still pay, as long as you experience an accident that falls within the policy. You can use the money to pay for lab tests, medicine, surgeries, hospital stays and more. The funds can also help a person replace income that’s lost because of the accident.
You’ll have to pay a premium to keep the policy active. If an accident should occur and your policy is inactive, then you won’t receive a benefit. But if everything is in order, you’ll have to file a claim following an accident.
When you file a claim, the insurer will want to verify the facts. You must have evidence that proves what you state happened during the accident actually happened. And if you’re injured, you need proof of the injury. Evidence can include things such as doctor’s notes, pictures, witness statements and police reports. Once your claim is verified, then your insurer will pay you the benefit.