The short answer: Yes, supplemental accident insurance is a good idea for many people. Let’s dig in a little bit to find out what it is and why you should consider it.
What is supplemental accident insurance?
There are different types of accident insurance, but the simplest type, and the one we recommend, is a policy that will reimburse you for medical care resulting from an accident. There is a cap on how much the policy pays – anywhere between $2,500 and $10,000, though most of our clients land at $5,000.
Why should I buy supplemental accident insurance?
If you’re like most people, your health insurance deductible is anywhere from high to very high.
And for most healthy people, the greatest risk of actually hitting that high deductible is because of some kind of accident.
This is especially true for families with kids!
In fact, one prominent youth sports organization in South Carolina is advertising supplemental accident insurance priced at $34.95/month.
Is that a good deal?
It’s hard to know without looking at the details, but many of our clients buy up to $5,000 of supplemental accident insurance for their families for around $25/month.
Most people aren’t comfortable with a high deductible, but a supplemental accident insurance plan can help cushion the blow if something happens.
My personal experience with supplemental accident insurance
We don’t just sell these policies – we carry them too!
My (Alex) kids are very active and have played a lot of soccer over the years. One of my kids suffered a knee injury in a game that required several weeks of physical therapy. Fortunately, we had a supplemental accident policy.
That policy saved us close to $2,000 in physical therapy costs.
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For only $25/month or so, supplemental accident insurance is a no-brainer for most active families. (Individual policies are even cheaper).
If you’re interested in learning more, click here to check it out.
Or just contact us.