Accident insurance is a type of coverage that pays out cash to the covered person in the event of an injury resulting from an accident. It’s a broad plan description, yes, but that’s because the plan is often inexpensive and covers a whole host of situations. In fact, it’s easier to explain what an accident insurance plan doesn’t cover than what it does. As long as you haven’t injured yourself intentionally or haven’t been injured while intoxicated or in the commission of a crime, you’re probably covered.
Accident insurance plans are most often used to supplement a health insurance policy and cover the deductibles and out-of-pocket costs left open by the health insurance policy. Accident insurance usually provides coverage amounts in the tens of thousands of dollars, but rarely much more than that. This is by design because ten or twenty thousand dollars is often more than enough to close the gaps left by a health insurance policy. The other great thing about accident insurance is that there is almost never a qualifying set of questions. You can usually just sign up.