What is Accident Insurance?
If you're considering insurance for your organization or company, then group accident insurance is one you want to consider. But, is this something your organization needs? Furthermore, what does it cover?
There are many different types of insurance available to organizations and individuals. One type of insurance is accident insurance. Accident insurance is a type of insurance you should have before an accident occurs.
Accident insurance is often a more affordable option for medical insurance. Additionally, it often covers not just the medical expenses associated with the accident but also non-medical expenses. These could include family care, lodging, and other costs associated with the accident.
Because accident insurance covers just the costs associated with an accident, it is also important to have medical insurance too.
How Group Accident Insurance Varies from Accident Insurance
Group accident insurance is like accident insurance. Except that instead of covering one person or one family, it covers a group of individuals and families.
This accident insurance offers some cost savings over individual accident insurance. This is because it allows the cost of the insurance to take into account all the group's members and not just one or a single family. That way, the entire group mitigates the cost of the insurance.
Group accident insurance will not cover the cost of medical costs other than those caused by accidents. Thus, if you own a company with employees, it's important to cover the employees with medical insurance as well.
What To Do if I'm in an Accident and Injured?
If you're involved in an accident and you or your loved ones sustain an injury, the first step is to get the medical attention you and your family need.
If you have accident insurance, contact your insurance as soon as practical. Also, contact a lawyer who is knowledgeable and experienced in dealing with insurance companies.
Many insurance companies look toward reducing their costs. Thus, they may not want to cover everything they are contractually obligated to cover. For example, if you do not know your policy, you may not be aware that certain medical and non-medical costs that it reimbursed.
Group Accident Insurance FAQ
Since life rarely goes according to your initial plan, group accident insurance can protect numerous groups of people. There are numerous key benefits but there is also a clear lack of knowledge about the subject. With this in mind, check out these common frequently asked questions.
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Who Will Pay the Insurance Premium?
The employee will cover premium costs with every single voluntary accident insurance policy. They also choose what to cover. Premiums are normally played through deductions from payrolls. This means that you will pay from your salary but the amount should be covered by the employer.
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Why Group Accident Insurance?
Accident insurance will help employees to maintain their financial wellness. Expenses associated with unexpected injuries are overwhelming.
When you are covered by group accident insurance, you know that you will be financially equipped to deal with the aftermath of an accident. This insurance helps both the employer and the employees.
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How Does this Insurance Work?
The insurer pays a lump-sum up-front when an accident happens an employee has insurance. Covered injuries determine the sum. Amounts are sent regardless of actual expenses or the other possible coverages.
Insurers neglect treatments, tests, and other services. Employees get the money and deal with less paperwork in the process. You do not worry about how much you receive since you already know it.
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What Are the Covered Injuries?
This often varies from one insurer to the next. However, the policy covers the same thing as with regular car accident insurance. Some examples of injuries:
- Concussions
- Comas
- Burns
- Fractures
- Eye injuries
- Knee cartilage
- Rotator cuff injuries
- Ruptured disc
When in doubt, ask questions about injuries covered. The insurance agent will tell you exactly what your coverage is. Choose based on what is most likely to happen.
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Do I Need An Accident Attorney?
Fortunately, in most cases everything is straightforward. The insurer pays exactly the amount in the contract. However, there are situations in which insurers might want to pay less than that.
Whenever negotiating with insurance providers, an attorney helps. Hire one whenever you cannot deal with the process due to your injuries. Make sure to hire someone highly-experienced. Never deal with insurance agents without help from specialists.
Why You Need an Experienced Accident Attorney
An experienced accident attorney can not only help you get your costs reimbursed from your insurance, but the attorney can also obtain compensation from the second party's insurance companies if there is another party involved in the accident.
Your attorney can help establish who was at fault and determine what costs the insurance covers. And if the insurance denies your claim, your accident lawyer can fight for you so that you receive all the compensation you are due.
Don't take the first check offered to you by an insurance company. Talk to an experienced accident lawyer who can read and understand your policy. Your attorney will work hard on your side to ensure you receive compensation for your medical bills.
