Injury Cover Insurance
Of course, nobody wants to have an accident resulting in injury. But, more than that, in case that unfortunate event happens, nobody wants to look at the hospital bill and have a heart attack as well. Enter Injury Cover Insurance, to the rescue!
If you think that injury coverage is expensive and not worth it, consider that, like with all insurance, you should choose the best plan that suits you (or, why not, go for a custom plan).
So, how to get the best out of your soon-to-be-signed personal injury coverage insurance policy? Simple, just take a few advice.
One: do you need it? Of course, you do, you wouldn’t be reading this if you weren’t. Perhaps this is the most obvious question you ask. But sit a little and consider whether the answer to this question really is “yes”. It might be a good idea to insure before a match or a season, or even before doing roofing work on your two-storey house. But it might save you a lot of trouble not doing it if you just need to hammer two or three nails in your kid’s see-saw (take our word for it, band-aids are cheaper). So consider the necessity, and, if it applies, continue reading this.
As a side note, in the negative example above, do consider the possibility of your kid actually being in need of personal injury coverage.
Two: do not confuse personal injury coverage with other very similar types of insurance, such as worker’s compensation or disability insurance. While they may sound identical to a layman, the insurance companies draw a very fine, but also very definitive line between them. If you are looking for insurance against light accidental damage to your body, that is not related to any type of working hazard, this is what you need. Look for worker’s compensation when your job hazards (please note that job hazards, in this case, does not refer to sports injuries, they are included, in most parts of the world, in injury coverage) are most likely to render you incapacitated for work, and you will thus earn the difference between any state-supplied funds for disabilities and your actual salary before the disability occurs (thereby offering you a buffer for your income in order for you to be able to afford medication and not have to damage the lifestyle of your family).
Disability insurance provides support in approximately the same situations as worker’s compensation (that is a disabling accident or illness), but covering non-work-related hazards, and is mainly directed at persons who have ongoing loans or mortgages, and provides monthly monetary support for these as well as medication and other medical expenses. It is easy, just glancing at the names, to confuse these three types of insurance, but, as you can see, they are very different.
Three: seriously evaluate your body. See how much you can take and do not overestimate your resistance. This only leads to underinsurance, which is not in any way beneficial to you.
Four: seriously consider the hazards you are about to face or what you might face. Critically observing what could happen and dismissing those events that couldn’t possibly happen, you will avoid both over-insurance (by not being paranoid), and underinsurance (by being honest in your evaluations).
Five: Always remember that it is best to be safe rather than sorry.
Six: These policies generally have a short contribution time, a shorter coverage time, and an even shorter benefit time. Calculate wisely when purchasing, and don’t forget to ask specifics if you think that any of these times need expansion. Most of the time, the agent you are speaking to about this will be authorized to let you know the details of customizing your policy and to offer you such customization on the spot.
Simply follow these steps when purchasing personal injury coverage policies and you should hopefully not have any problems.