We all know accidents can happen at any time when you least expect them. How can you decide whether you would benefit from having a personal accident policy?
The first thing you need to evaluate is your financial status. For example, are you the sole supporter of your family? If you were to suffer an accident that prevented you from working for a period of time, how would you support your family and pay the bills? Do you have enough savings to pay all the bills for 1 month, 2, 3, or more? If the reality is you wouldn’t have enough money or resources to support yourself and/or your family in case of an accident, you may want to think about purchasing an accident policy.
Your job is the second thing to consider. Is it dangerous? Do you often run the risk of accident based on the nature of your job? Some examples of high-risk jobs would be those in the construction industry, anything involving heavy machinery, mining jobs, etc. Back and leg injuries, and eye injuries are common in these fields and can prevent you from working for a good period of time.
Also important to consider are accidents occurring inside the home. People tend to feel the safest at home, comfortable in the knowledge that nothing dangerous can happen to them. But this is simply not true. Common home accidents are falls, choking, poisoning, and fires. Do you live in an area that is very hot and prone to forest fires?
“According to the Centers for Disease Control (CDC), fires and burns are No. 3 on the list of fatal injuries in homes. Nearly 10 Americans die daily on average due to fires, mostly because of smoke inhalation rather than burns.” (eHow)
An accident policy covers expenses that may not be fully covered by your medical insurance: Ambulance, Emergency room visits, broken teeth, concussions to name a few. You certainly don’t want to be stuck with a bill you can’t cover. It’s best to talk with a qualified insurance broker about your needs and concerns. Remember, your most important asset is yourself.
Tiffany Buczek is a freelance writer and licensed esthetician living in Southern CA.