Some surprises are wonderful and exciting. Others, not so much. Accidents are one of those unexpected and potentially costly aspects of life we all face every day. Here are some facts and figures to consider:

• 30 million accidents reported every year
• Accidents are the leading cause of death and disability for ages 18-44
• Top causes of accidental injuries: falls (all ages), sports for youth

Injuries from accidents are one of the most common reasons that people seek medical treatment. The effects of injuries are reason for concern by individuals, but can be devastating to a family when the accident might impact their ability to maintain income, or add costs that consume their income.

So where does health insurance stop and accident insurance begin in terms of covering injury-related expenses? It’s a good idea to become familiar with the comparison to make sure you have the coverage you need.

Accident Insurance vs. Health Insurance

One question to answer right away is whether you should opt for accident insurance alone without medical coverage. That answer is a resounding “no.”

Health insurance, of course, covers a broad range of expenses incurred as a result of illness and disease. It likely also covers injuries, in situations other than at work (that’s an issue for workers’ compensation). Having health insurance is one of the most important ways to avoid disastrous financial consequences that can arise without coverage. But, as we know, there are always some limitations on that coverage in the form of deductibles, co-pays, and eligible expenses.

First of all, as the term implies, accident insurance addresses injuries and related expenses arising only through an accident. And it doesn’t apply to illnesses. It can be viewed as an extra layer around your medical insurance to expand and enhance your overall coverage to help you minimize the cost of an injury.

For example, an accident policy may pay for those expense gaps created by the deductible and co-pay amounts under health insurance. It may also provide coverage for ongoing disabilities resulting from the injury and even an accidental death benefit in the event of a fatal injury.

A valuable aspect of accident insurance that many people may not appreciate is that it can cover aspects related to an injury beyond the necessary medical treatment. Unfortunately, an injury often starts a cascade of challenges. They can include:

• An ambulance ride to the emergency room
• Care for young children during recovery
• Assistance with household or even yard chores
• A means of getting to and from appointments with your doctor and physical therapist

When reviewing options for health and accident coverage, carefully compare the details between them and how the policies work together.

Get Educated, Be Prepared

The goal here is to provide a broader financial safety net through a sensible combination of medical and accident insurance. You can learn more about accident insurance available through KeenanDirect.

Of course, the best way avoid these kinds of expenses is simply to avoid accidents in the first place! Here are some tips for creating a safe home environment for adults and kids.