Accident insurance is a more diverse concept than any other form of insurance, like for instance, dental insurance. Although it simply means insurance to cover death or injury caused by accidents, however the concept or nature of accident is not a straight-forward on and it can occur under various conditions and in various forms.
Accident insurance can vary from:
Auto or motor insurance (covering legal liability claim against the driver of the vehicle or any damage occurred to the vehicle)
No-fault insurance where an insured need to prove that he/she was injured in an automobile accident (damage to either persons or property)
Health Insurance covering sickness or injury caused by accidents
Personal Accident Insurance to cover people against personal accident causing death, permanent total disability, permanent partial disability, temporary total disability, etc. (exceptions include suicide, pregnancy, war or nuclear perils etc.)
Group Personal Accident Insurance insuring a group of people against accidental death / injury
Environmental Liability Insurance protecting from bodily injury, property damage and cleanup costs caused by dispersal, release or escape of a pollutant
Workers’ Compensation Insurance covers employee’s wages lost and medical expense incurred due to a job-related injury .
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Last Updated on : 28th August 2013