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Personal Accident Insurance 

 Accidents happen.

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Spotlight on: Personal Accident Insurance

From falling off a ladder or slipping on the front porch to getting hurt playing a favorite school sport, injuries are part of life. 

Fortunately, personal accident coverage from Higginbotham can help. Designed to pay a lump sum to help with the costs incurred from a covered injury, personal accident insurance can be a great way to secure peace of mind for you and your employees.

Also known as supplemental accident insurance, this coverage pays benefits for accidental injuries.

If you, a family member, an employee or another dependent covered under a personal accident insurance policy becomes disabled, is hurt in an accident, suffers a defined injury or is left unable to work as a result of a covered peril, this coverage can help with medical costs, lost wages and other expenses during recovery. 

Approved personal accident insurance claims are paid either in one lump sum or as a monthly benefit payment. 

 

Why choose Higginbotham?

Because our know-how knows. 

We know accidents happen. We know that accident insurance benefit payments can help cover health insurance deductibles and copays. We know that if you offer your employees the option of carrying both health coverage and accident coverage together, it can save them money down the line. And, we know that unlike health and life insurance, securing personal accident insurance is relatively simple. 

Because our approach to finding solutions is more individual and less institutional, we don’t wait until an accident happens to get to know you and your business by name, need and nuance. So if personal accident insurance is something you’d like to explore for your employees, we’ll take time to understand your business and provide coverage tailored to your actual needs.

With the freedom to do what’s right, right now, we work hard to understand your priorities and deliver year-round value. Committed to both transparency and authenticity, we strive to continuously exceed your expectations today—and for hundreds of tomorrows.

To learn more about how our values-based approach drives value for you and your employees, click here

Or visit our Insights page to learn more about accident versus disability insurance.

Talk to an Employee Benefits Specialist

While there are many other eligible conditions covered under a personal accident insurance policy, there are also certain exclusions, limitations and other considerations you need to be aware of before placing coverage. 

At Higginbotham, we take the time to thoroughly explain policy options so you get the right coverage at the right price for your needs.  

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What does Personal Accident Insurance cover?

Some examples of injuries typically eligible for coverage under an accidental insurance policy include:

Dental Injuries

Broken Bones

Lacerations

Eye Injuries

Dislocations

Fractures

Burns

Employee Questions, Your Answers

If you’re planning to provide personal accident insurance as an employee benefit, your people may have questions.

Here’s a primer to give you the information they need.

Do I need accident insurance?

Even the least accident-prone person isn’t immune to Murphy’s law.

Nearly everyone will experience an accident-related injury in their lifetime. Even if it doesn’t happen to you, one of your children could break a bone or your employee could get a cut while preparing dinner.

Can I Get Coverage Without a Medical Exam?

In most cases, voluntary accident plans offered by employers don’t require a medical exam as a qualifying prerequisite. Unlike health and life insurance, securing protection is relatively simple. 

This coverage is often easy to obtain, with most employer-sponsored plans only requiring current employment at the organization for eligibility.

Even if your employer doesn’t offer accident policies as a voluntary coverage, you can still likely purchase a plan on your own without a physical.

Doesn’t my health insurance provide the same coverage?

While health insurance functions much in the same way as accident insurance, there are a few key differences.

Perhaps the most important distinction between a standard health insurance plan and accident insurance is that accident insurance benefits help close coverage gaps. Because accident coverage may be more flexible on what is eligible for a claim, an accident policy can, in many cases, help you avoid out-of-pocket expenses.

Another benefit of carrying both health and accident coverage is how each pays benefits.

While most health insurance policies require you to pay for medical expenses out-of-pocket until you reach a considerable deductible, some accident insurance policies have deductibles as low as $100, or none at all.

Accident insurance benefit payments can typically be used to cover health insurance deductibles and copays. So carrying both coverages can easily save you money down the line.

Accident insurance can also cover tertiary costs that health coverage may not. For example, if you break your arm and are left unable to work, your health insurance would not help pay for lost wages that may result.

However, by carrying accident insurance, you would be able to use money from a claim on that policy to cover this loss of income and other expenses.

What’s the difference between Accident Insurance and Disability Insurance?

Disability insurance is another coverage to consider when planning your policy, as there are benefits to carrying both coverages along with your health insurance. 

Though disability insurance tends to pay more substantial benefits, these payments are contingent on an injury that prevents you from being able to work. In some cases, a supplemental accident policy could help cover the gap, paying benefits regardless of whether the injury is disabling. 

Another key advantage of carrying these two coverages together is that accident insurance doesn’t typically require an elimination period before paying benefits. 

Disability insurance policyholders often wait 30 to 90 days after an injury before they’re eligible for payment. Because most accident insurance doesn’t require an elimination period, this can be a great way to cover the gap. 

How are Accident Insurance premiums determined?

At Higginbotham, we set ourselves apart by taking the time to understand your unique situation and provide coverage tailored to your specific needs.

The premium for accident insurance coverage can vary based on several factors, such as:

  •  Age
  • Gender
  • Group or Individual Coverage
  • Size of Employer Group

Talk to an Employee Benefits Specialist

While there are many other eligible conditions covered under a personal accident insurance policy, there are also certain exclusions, limitations and other considerations you need to be aware of before placing coverage. 

At Higginbotham, we take the time to thoroughly explain policy options so you get the right coverage at the right price for your needs.  

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Not sure where to start? Talk to someone who wants to listen.

Give us a call today to find out what accident insurance from Higginbotham can do for you.

Talk to an Employee Benefits Specialist

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