Should Your Company Provide Accident Insurance?

malden solutions accident insurance

Your company should consider offering accident insurance to supplement your current insurance benefits.

When most businesses think about their benefits packages, they only consider the big ones: life insurance, health insurance, dental, vision, and disability insurance. Although these are a good start, you want your benefits package to be competitive. Your company should consider offering accident insurance to supplement your current insurance benefits.

Accidents Happen

The truth is that accidents can occur to anyone, and it’s often not a matter of fault. We can prepare for some accidents and avoid them, but they just happen. In fact, accidents can be sudden, so they are not like other expenses you may plan for. When an accident leads to injury, it often needs medical attention. Overall, it can be a significant benefit if your employee benefits package includes a way for your employees to save money on those out-of-pocket expenses because it can be expensive.

Will Other Insurance Cover It?

Other insurance may cover it, but it depends. If your employees have homeowners, health, and automobile insurance, those will cover numerous accidents, but not all. Many accidents occur during fitness or sports-related activities. For the most part, health insurance will cover some of these, but it doesn’t include your deductible. In addition, some medical insurance will sometimes refuse to cover things that can receive coverage by another form of insurance, like the homeowner’s insurance for the home where you slipped. Also, accident insurance can assist your employees in covering their bills and keeping themselves financially stable, while different insurance companies duke out who will cover the accident.

Living Paycheck to Paycheck

The reality is that most Americans today live paycheck to paycheck, meaning that they only have a little left over once they pay their bills and cover their regular expenses. This makes it challenging to build up a savings account, but it also signifies that an unplanned expense, such as an accident, can trigger significant problems. Even if medical insurance will cover most of the cost, the average deductible is $1,500, more than most people would save up.

Find the Right Health Insurance Solutions for Your Needs

Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, and Linkedin.

This entry was posted on Wednesday, January 3rd, 2024 at 11:44 am. Both comments and pings are currently closed.