Accident insurance is a type of supplemental policy that pays you a cash benefit to help you recover from the unexpected financial costs of an accident or injury. Even after health insurance, you could face steep out of pocket expenses for the treatment of your accident. Since the benefit is paid directly to you, it can also be used to cover household bills, childcare costs, and other necessities during the period you are recovering, even if you are not out of work.
Your injury or injuries must be covered within your policy, but accident insurance can cover a wide range of injuries and conditions. If you are looking for a policy with lower premiums that will still provide you protection in the event of an injury, then accident insurance may be a good fit for you. It is a good complement to health and disability insurance.