The answer is simple, even if you are the type to plan for everything, an accident is unpredictable: a bad sprain while playing soccer, a collision at the end of the street or in Provence, a loss of balance while clearing the snow roof…
Accident insurance protects you financially in the event of accidental injury or, your loved ones, in the event of accidental death. This protection is an excellent complement to other types of insurance and public plans.
What exactly does accident insurance cover?
This may differ depending on the company. Some will cover transport accidents only while others will consider accidents in the broad sense: drowning, various falls, hunting accidents, or others.
Insurance for all types of accidents from CAA-Quebec, in particular, covers you in the event of death or permanent injury in all accidental circumstances (transport, sports, or domestic accident).
Examples?
- A man who sprains his ankle while playing tennis could claim the costs of physiotherapy and crutch rental from his accident insurance.
- A woman who became paraplegic following a mountain bike accident could receive disability benefits and help to pay for rehabilitation care to return to the job market.
- The family of a man who died in an accident could receive $100,000 in compensation to help his family support themselves following the loss of wages for years to come. Accident insurance could also cover part of the funeral expenses and even offer benefits for the studies or daycare costs of the insured’s children or even help the spouse if he or she has to return to school.
Can accident insurance replace travel insurance, since it provides coverage anywhere in the world?
Accident insurance does not replace travel insurance. It compensates you for losses suffered (death or serious and permanent injuries), which travel insurance does not do. The latter is rather used to pay for your urgent health care abroad or your repatriation to Quebec. The distinction is important!
So, if you become paraplegic following a transport accident in another country, it is your travel insurance that will pay for your hospital stay and doctors’ fees. Your accident insurance, for its part, will give you an amount that will allow you to adapt to your new reality.
When we travel, we use several means of transportation (plane, ship, ferry, bus, high-speed train, taxi, tuk-tuk, etc.) and we walk a lot. Being covered for all accidents that may occur during transport is therefore very interesting.
Why choose accident insurance when I have life insurance?
Accident insurance is additional coverage. It does not replace life insurance, because it is only valid in cases of accidents. However, due to its very affordable cost and despite generous benefits, it becomes a really interesting plus, among others, for people who have difficulty obtaining insurance –
we can often obtain this type of insurance without a medical examination. Be careful, however, insurers generally require you to be 16 years old and a Canadian resident.
Why opt for accident insurance when the SAAQ already covers car accidents?
The Societe de insurance automobile du Quebec (SAAQ) covers you if you are involved in an accident involving a vehicle, on a numbered road, as a driver, passenger, pedestrian, or cyclist.
However, you will not be covered if the accident occurs on a trail, on a private road, or while you are riding an ATV or snowmobile unless there are exceptions.
In addition, ambulance transport in the context of an accident is not covered either.
How can accident insurance be useful for students?
Certain fields of study or certain activities carried out by students are more prone to accidents. Let’s think about students from trade schools, in cabinetmaking or welding for example, or students who participate in educational outings, internships, sports tournaments, etc.
- A student sprains her wrist while hiking.
- A player on the basketball team breaks her leg during a game.
- An apprentice carpenter cuts himself seriously in class.
- A young person is injured in a bad fall while cycling during a student exchange in another province.
- Etc.
Accident insurance for students is adapted to the school context and the resulting risks. As mentioned previously, the amounts paid by government plans are often insufficient to compensate for all costs incurred in the event of an accident.
Accident insurance for students makes it possible to cover all the needs of the victim and their family, in the short and long term. In the same way as other accident insurance, compensation can be paid for dental and paramedical care, for the rental or purchase of adapted equipment, to cover hospitalization costs, etc.
Are accident, life and other insurance benefits cumulative?
Generally speaking, benefits are paid in the event of death, mutilation, or fracture, even if you are compensated by another plan, whether life insurance, group insurance, the SAAQ, etc. Some fixed expenses are not reimbursed more than once.
This is the case for ambulance transport. Accident insurance could, however, supplement group insurance, for example, by assuming the percentage not covered by it for physiotherapy care.
Finally, remember that it is perfectly healthy to shop around for insurance. The majority of insurance companies and banks offer accident insurance. Pay particular attention to limitations and exclusions from a certain age or for certain activities.