Should I go for Accidental Insurance? What are the Pros and Cons?

You have bought medical, dental, and life insurance and have sufficient account savings. In case you get an accidental injury, you will be covered by your insurance plans right? Not that’s not true. Even having the best medical insurance could leave you with unforeseen costs. 

Accidents can happen anytime, anywhere, and cause serious harm without any warning. Such an incident would come with a financial burden as you not only have to pay for treatments but can also face any disability. To protect yourself from such a troublesome situation, it is recommended to buy an accidental insurance plan. 

Still confused about whether to get this policy or not? Don’t worry! Just keep reading the blog post and we will try our best to clear all your confusion and misconceptions along with the pros and cons of accident insurance. 

Should I go for Accidental Insurance? 

Let’s try to understand the need for accidental insurance with an example. Suppose you fall from a ladder while hanging some celebration lights in the house. Even that single event required a huge cost for multiple expenses. From going to the hospital in an ambulance to staying there and getting treatment and medications you need a good amount for these expenses. 

According to an estimate, an average trip to the emergency room can cost up to $1000. Aside from it, after getting discharged, you need money for follow-up care, crutches or rehab, and daily life expenses. While having accident insurance, you don’t have to worry about all these expenses. You will receive the payments according to your coverage that you can use as you want. 

However, here are some other reasons why getting accidental insurance is important: 

1- Accidents happen more often than you may think: 

Far away, all of us don’t think about getting in an accident, but accidents are more common in everyday life. Emergency rooms in the USA get about 35 million visits per year due to unintentional injuries. However, children are more prone to accidents, so it’s important to have accident insurance for you and your family. 

2- You might be out of work due to accidents: 

After getting into an accident, you may have to go for physical therapy or follow-up care. Sometimes, due to broken bones, pulled muscles, or inability to drive, you can’t work at all. In that case, you will be burdened, especially if you have to pay some medical bills too. Accident insurance will give extra cash for compensating the loss of your income on those days. 

3- You are covered if you have any pre-existing condition or change job: 

As long as you are working actively your coverage is guaranteed with no questions or any biometric exam. You are covered instead of your health condition. Accidental insurance will be handy if any medical issue puts you at risk for falls or any other accident. Moreover, these policies are also portable, meaning that you can keep the policy as long as you meet the criteria after even changing your job. 

4- Insurance covers more than just injuries: 

Many accidental plans offer ancillary advantages for limb loss, paralysis, blindness, and even accidental death. Having that extra coverage will protect you from the financial impacts of a serious accident. 

5- Not as expensive as you may think:

You might not know that accidental insurance is one of the most cost-effective types of insurance you will ever get. However, prices, coverage, and availability vary based on which state you live in, but still, the policy is low-cost. 

What are the advantages of getting an accidental insurance policy? 

Accidental insurance plans come with a lot of advantages. Some of them are listed here:

1- Mental Satisfaction and Family Protection 

In case of any accident that causes serious injuries, disabilities, or maybe death, your potential earnings would be affected. Here comes the accidental insurance plan that gives your family financial protection while providing accidental compensation. The insurer will pay 100% death benefit of the policy in case of death. That amount can be used to pay the debts (if any) and fulfill the cost of the usual lifestyle. In that way, you will be satisfied that your family will be financially stable and secure after you. 

2- Less Documentation

While purchasing this policy you do not have to worry about the documents. Unlike many other insurance policies that have complex procedures of buying, accidental insurance is easy to buy as it doesn’t involve a lot of documentation. You just have to provide some basic details required in the application form, and the insurer will issue the policy. 

3- No Medical Exam or Report is Required 

Another benefit of accidental insurance plans is it does not demand any medical test or report from the applicant. If you are avoiding getting policies because many insurance companies require you to give a medical test before issuing the policy, you will not undergo any test while getting accidental insurance. 

4- Easy Claim Process 

If you are concerned about the claims process of an insurance company, accidental insurance plans come with a very simple and easy claim process. You just have to submit an application to the insurer which can be done either offline or online. Once your claim is verified by the insurance company, the amount will be paid out. 

Also Check out : What to Do if Your AD&D Claim for Benefits Is Denied

5- Cover Several Expenses 

Your accidental insurance policy is responsible for covering all the expenses when you get injured accidentally. It will cover ambulance expenses to carry the injured to the hospital from the accident spot, medication, treatments, hospital stays, and any other follow-up care procedures. 


What are the drawbacks of getting an accidental insurance plan? 

Accidental insurance plans have a lot of advantages, but they also come with some drawbacks. Let’s check them: 

  • Same Premium for All Age Groups 

Accidental insurance plans offer a premium that is the same for people across different age groups. On the other hand, medical insurance has a premium that changes depending on the age and lifestyle of the policyholder. Another important factor to consider while deciding the premium is the income of the insured. 

  • No Coverage for Natural Deaths or Illnesses

If the policyholder died due to a heart attack or any other illness, accidental insurance will not cover the insured person. According to the terms of the policy, only deaths and injuries caused by an accident are covered by an accidental insurance plan. 

  • Certain Exclusions 

This policy does not even cover you if you have some high-risk jobs like if you are a pilot or air hostess, the accidental insurance is not for you. It may also have some other exclusions like extreme sports such as paragliding, skydiving, or bungee jumping. 

The Final Word 

Just as it’s important to provide your family with financial security in case of your death, it’s equally important to think about how they would manage if an accident leads you to any disability. It is recommended to have accidental insurance to be prepared for such unexpected circumstances. However, you should know the benefits, drawbacks, and other terms of the insurance plan before buying it.