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Accident Insurance Cost

Accidents can occur at any time, no matter how careful we are. Aside from the physical injury you experience and the emotional turmoil your loved ones suffer after an unexpected injury, you could be subject to significant financial stress. Fortunately, accident insurance policies can help with the costs of these accidents at affordable rates. They can help pay for medical treatments and help when you’re unable to work, reducing financial strain as you recover from your injury and treatment. Read on to find out how accident insurance works, how to file a claim, and who should consider applying for accident insurance.

How accident insurance works

Accident insurance is a supplemental insurance policy designed to help cover financial losses that occur if the policyholder gets injured while the policy is in force.1 In exchange, the policyholder pays premiums to maintain accident insurance coverage. Accident insurance can help cover many costs associated with the new and unexpected injuries such as:

  • Copayments Travel for treatment
  • Hospital stays
  • Diagnostic tests
  • Out-of-pocket expenses

Accident insurance can complement disability insurance since the latter tends only to cover injuries that prevent you from working.1 Even if you can continue working while injured, the costs of care and recovery may be hard to afford without an accident insurance policy. Aflac’s accident insurance policies can help give you added financial security and peace of mind.

How much does accident insurance cost?

Accident insurance varies from company to company. At Aflac, most of our supplemental rates are considered affordable and fit into most budgets. We recommend chatting with an agent and getting a quote for a more comprehensive look at costs.

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What affects the cost of accident insurance?

These factors may impact the premiums you pay for accident insurance:

Your age

Accident insurance premiums tend to increase as a prospective policyholder ages, because they may become more prone to accidents and injuries.4 Additionally, certain pre-existing health conditions may increase the chance of an accident or injury with age.

However, many accident insurance policies may offer guaranteed level premiums. This means they will not increase with age once you buy the policy. So, it may be wise to buy accident insurance with guaranteed level premiums while young.


Insurance companies may charge different amounts for the same coverage because insurers may differ in their underwriting standards. So, shopping around is vital to finding the best rates.

Coverage amount

The level of coverage you get can impact premiums.4 Getting more coverage will cause you to pay more in premiums, whereas you will save on premiums if you get less.

Your state

The state you live in can also impact your premiums.2 For instance, states with more competitive insurance markets may offer lower rates as insurers attempt to attract customers.

Your job

Certain jobs, such as those involving manual labor, heavy machinery, or a dangerous environment, have a greater chance of accident or injury. People in these jobs may pay higher accident insurance premiums. Jobs that may result in higher accident insurance premiums include:

  • Construction workers
  • Roofers
  • First responders (police, firefighters, ambulance/EMS)
  • Ironworkers
  • Logging and forestry workers
  • Truck drivers
  • Electricians

Your lifestyle

People who participate in more dangerous hobbies and activities may pay higher premiums for accident insurance because there is a higher risk of suffering accidents and injuries. Hobbies that could cause you to pay higher premiums may include:

  • Skydiving
  • Bungee jumping
  • Rock climbing
  • Combat sports (such as martial arts)
  • Hunting
  • Winter sports (snowmobiling, snowboarding)

How to make an accident insurance claim

Here’s how to file an accident insurance claim:

  • 1. Notify your insurer: Inform your insurer of the accident. Tell them your policy number and relevant information, such as the accident’s date, time, and location.
  • 2. Get medical treatment: Obtain medical treatment for any injuries the accident caused. Keep all documentation of medical expenses, health insurance claims for treatment, and prescriptions.
  • 3. Complete the necessary paperwork: Your insurer will provide you with several forms to complete so they can gather necessary information to approve the claim.
  • 4. Work with the claims adjuster: Your insurer may assign a claims adjuster to work with you on the claim. Cooperate fully with them, providing any information or documentation they need. This will help them finish their work faster, meaning you could receive your payout more quickly.
  • 5. Receive your payment: Your insurer reviews and approves your claim, then issues payment. The amount will depend on your coverage, the extent of injuries you suffered, and your policy terms.

Insurers generally pay out claims as lump sums and let you choose various payment methods, such as a check or ACH. Check with your insurer to understand how your policy pays out claims.

Who should get accident insurance?

Here are some people who should consider getting accident insurance:5

  • Parents with children: Accident insurance can help protect in case of an accident that leaves you unable to work to minimize financial strain on your family.
  • Self-employed individuals: You may not have access to employer-sponsored plans when self-employed. Accident insurance can help when an unexpected accident strikes.
  • Single adults: Accident insurance can help you cover living expenses if you don’t have a partner and are, therefore, your sole income source.
  • Retirees: Retirees generally rely on a fixed income and a limited number of assets. Accidents can cause them to draw on those resources and create financial strain. Accident insurance helps reduce a retiree's reliance on their savings if injured.

Get an accident insurance quote

Accidents can happen at any time. Accident insurance is an affordable way to help protect yourself against the unexpected. Many types of people, from parents to single adults, can be better prepared to cover medical costs with accident insurance. Get peace of mind today by chatting with an Aflac agent about obtaining accident insurance at an affordable rate.

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