Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Compare personal accident insurance

Get extra income after an accident for those with high-risk jobs or hobbies, though it's more restrictive than disability or life insurance.


If you’re injured from an accident, accident insurance offers payout that can cover anything from medical bills, childcare or anything else you need to pay for.

7 reasons to get personal accident insurance

If you’re injured in an accident, lost income and unexpected medical bills can create financial hardship. Some reasons to consider personal accident insurance include:

  • You need extra medical coverage. This can include the costs of rehab and what’s not covered by your health insurance.
  • You have some medical issues. This a viable option if you’ve been refused life insurance in the past.
  • You have a risky hobby or job. Accidents could happen, especially if your hobbies include physical activity and potentially dangerous situations.
  • You have a low budget. A policy can be as little as $15 a month depending on factors like where you live, your age and how much you coverage you’d like.
  • You don’t have the savings. If you suffer an accident and aren’t able to work as a result, your policy can provide financial assistance.
  • You want to be protected until you retire. Choose term lengths that can cover you until retirement so you won’t have to dip in to your retirement savings and investments in case of an accident.
  • You’re a contract employee or self-employed. If your job doesn’t allow for sick leave, accident insurance could protect your finances if you’re unable to work.

What type of accidents am I covered for?

The accidents that are covered varies between insurers. Examples of common injuries you could be covered for are listed below:

Accident TypeWhat does this include?
Accidental death and dismemberment
Accidental loss of life
Permanent total or partial loss of eye sight
Permanent total or partial loss of hearing
Permanent total or partial loss of one or two limbs
Permanent total loss of speech
Legs and arms
Fracture injuries
Thumbs, fingers and toes
Collarbone or sternum
Kneecap and elbow
Wrist, ankle, hand and foot

Am I covered for accidental deaths too?

Accident insurance is not accidental death insurance where a benefit payment is provided for accidents that result in the policyholders death. Some personal accident insurance policies may also cover accidents that resulted in death. Read the terms and conditions of your policy to have a clear understanding of what you’re covered for.

When am I not covered?

Personal accident insurance does not generally cover:

  • Injuries which have been self inflicted
  • Dental injuries
  • Accidents due to prior illnesses
  • Injuries that have occurred while committing crime
  • Dangerous behavior
  • Injuries under the influence
  • Injury is the result of a pre-existing condition or injury
  • Age limits for coverage — often older than 70

Other benefits of accident insurance

Having accident insurance has other benefits including:

  • Premiums are tax deductible. You can claim your premiums on your taxes if what you’re paying comes out of your pocket — and not through your employer.
  • You choose how your benefit is paid. You can choose to receive your benefit as a lump sum payout to help with upfront medical expenses or as an ongoing monthly income to help with your living expenses.
  • Disability benefits are included. Most personal accident insurance policies include a benefit payout for a disability. For example, if you suffer a total loss of speech, hearing, sight or the loss of the use of a hand or a foot, you’re considered to be eligible for a total and permanent disability benefit.
  • Use your payout to cover any costs. Use your benefits to cover any costs you incur as a result of your accident. This can include counseling, rehab, childcare, clothing or transportation.

What determines the cost of coverage?

There are several factors that can affect the cost of your accident insurance premiums, including:

  • The benefit period. Longer benefit periods attract higher premiums.
  • Your occupation. People who work in high-risk occupations generally have to pay more.
  • Your benefit amount. The higher the benefit amount you’re eligible to receive, the more you’ll pay.
  • Your age. The older you are, the greater your risk of accidental injury and higher your premiums.

Compare alternatives to accident insurance

Name Product Issue age Minimum Coverage Maximum Coverage Medical Exam Required
LadderLife™ Life Insurance
20 - 60 years old
Term life insurance with no policy fees and the freedom to cancel anytime. Simple application process that can get you approved for coverage instantly.
18 - 85 years old
Depends on provider and policy
Compare affordable quotes from 12+ A-rated life insurance companies side-by-side.
21 - 54 years old
Affordable 10- and 20-year term life insurance policies with instant quotes and no medical exams.
25 - 60 years old
Depends on policy
Get affordable term life insurance with accelerated underwriting or no-exam coverage up to $1,000,000. Available in all states except CA, NY and MT.
Haven Life
18 - 64 years old
Customized term life insurance policies up to $3 million, no medical exam for certain applicants.

Compare up to 4 providers

Bottom line

If you think you couldn’t afford to pay for bills or extra expenses after an accident, personal accident insurance might be right for you. Consider your lifestyle, savings and other coverage when deciding on a policy.

Shop around and research in order to find the policy that’s the right fit for your lifestyle.

Frequently asked questions

Read more on this topic

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

6 Responses

  1. Default Gravatar
    BrendaFebruary 10, 2019

    I would like to know if accident insurance cover people living in Florida

    • Avatarfinder Customer Care
      johnbasanesFebruary 11, 2019Staff

      Hi Brenda,

      Thank you for reaching out to finder.

      Generally, accident insurance cover is covered in Florida. If you already have a personal accident insurance, you may want to review your policy to find out more if you are covered. Hope this helps!


  2. Default Gravatar
    ShinaFebruary 9, 2019

    I constantly travel outside the US, if I was to be injured or worst lose my life in a accident would I be covered by accidental insurance?

    • Avatarfinder Customer Care
      JoshuaFebruary 10, 2019Staff

      Hi Shina,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      You would need to check your terms and conditions, Shina. Every policy is unique and sometimes, they have different ways of defining what constitutes an accident. For this reason, it would be a good idea to directly get in touch with your insurer and confirm.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  3. Default Gravatar
    EveDecember 22, 2018

    From a fall injury that turns bad, severe skin lesion and blisters leading to a hospital stay and during the stay was later diagnosed as bullous pemphigoid by the doctor after a blood test. My question is, can this be claimed from my accident policy as in an injury from the fall? Thank you.

    • Avatarfinder Customer Care
      JoshuaDecember 22, 2018Staff

      Hi Eve,

      Thanks for getting in touch with finder. I’m sorry to hear about your situation.

      Typically, if your fall directly caused the disease, then it should be covered by your policy. However, this can be a case by case basis. For this reason, it would be a good idea to review the terms and conditions of your policy or discuss this with your insurer.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


Go to site