Lead an active life? Personal accident insurance may be worth the investment.
Being active and sporty is a great way to stay fit, enjoy fun, adrenaline pumping activities and get involved with some interactive fun. However, being active and sporty also comes with the increased risk of being involved in an accident that results in a debilitating injury.
Why should I consider personal accident insurance?
This type of cover provides coverage in the event that you are involved in an accident or have been seriously injured. Some of key situations you are covered for include:
- Medical costs not covered by health insurance. Your health insurance may not cover all fo your medical expenses or only up to a certain amount.
- Inability to work. If you do suffer an injury whilst engaging in sporty activities you may find yourself unable to work and earn a living. Accident cover offers income protection.
- Changes to your life style. Along with covering your initial medical expenses, you may need to pay for lifestyle adjustments such as modifications to your house to accommodate for your injury
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What types of sporting injuries can I get covered for?
Some plans can provide you with a lump sum payment to cover for injuries. Depending on the policy, you may be covered for:
How much is generally covered for these types of injuries?
|Fractures||Hips or pelvis||$10,000 - $20,000|
|Skull||$7,000 - 15,000|
|Lower leg, kneecap or ankles||$5,000 - $10,000|
|Forearm or sternum||$4,000 - $8,000|
|Wrist, hand, foot, jaw, shoulder blade; collar bones||$1,500 - $3,000|
|Cervical fractures e.g. neck||$1,500|
|Ribs, cheekbones, eye sockets, nose||$500 - $1,000|
|Dislocations||Hips||$7,500 - $15,000|
|Wrist, elbow, knee, ankle||$1,500 - $3,000|
|Shoulder||$500 - $1000|
What should I look for when I select cover?
If you decide that you can benefit from having personal accident insurance cover in place, you need to find a policy that is well suited to your needs whilst also fitting in with your budget. This means that you need to compare a range of plans and providers in order to try and find the best plan for your needs. When you compare personal accident insurance cover you need to look at a number of important areas of cover. This includes comparing areas such as:
- The cost of the cover: It is important to find personal accident insurance cover that is priced within your budget, so you need to make sure you check and compare the price of any personal accident insurance plans you are considering. The cost of cover can vary based on a number of factors, including the insurance provider you choose, so you should make sure you check the price and that it fits in with your maximum budget
- The level of coverage: You need to ensure that you take out adequate coverage levels for your needs when you take out personal accident insurance cover so that you can benefit from peace of mind and you have enough cover for your needs. You should therefore check and compare the levels of coverage that come with different plans when deciding which plan and provider to go with
- What you are covered for: Of course, in order to ensure you have taken out the right cover you need to know what you will actually be covered for. It is therefore important that you check the details and features of any personal accident insurance plans so that you know exactly what is covered
- Exclusions and restrictions: As is the case with any protective insurance plan, you need to check the various plans in terms of exclusions and restrictions, which means reading the small print. This will help you to determine what is and is not covered and just how suitable a particular personal accident insurance plan will be for your needs
What can personal accident insurance do for active individuals?
One form of protective cover that can prove invaluable for those who are active and sporty is personal accident insurance cover. With this sort of cover, you can enjoy the peace of mind that in the event you fall victim to an accident and become injured, you will not have to worry about your finances on top of worrying about your health and injuries. This in turn brings with it a range of benefits, from peace of mind and the ability to keep up with payments to the ability to focus more on your recovery.
Although most of us hope that we will never be involved in a debilitating accident, these things cannot be controlled particularly if you are in higher risk situations such as being involved in active and sporty activities. Of course, it isn't practical to simply stop doing the things you love just in case there is an accident so the next best thing is to have some sort of protection in place in case of a serious injury. Personal accident insurance cover is a great way to benefit from financial protection as a sporty and active person, as it offers cost effective peace of mind.