Why buy accident insurance?

Accident insurance protects you financially in case of accidental injury, and your loved ones in the event of accidental death. This coverage is an excellent complement to other types of insurance and public plans.

What exactly does accident insurance cover?

Obviously, this may differ from one company to the next. Some will only cover transportation accidents while others will consider accidents in the broader sense: drowning, various falls, hunting accidents and so on. For example, CAA-Quebec’s insurance for all types of accidents, covers you in the event of death or permanent injury in all accident circumstances (transportation, sports-related or at home).

Examples?

• A man who sprained his ankle while playing tennis could claim his physiotherapy and crutch rental on his accident insurance.
• A woman who becomes paraplegic in an all-terrain vehicle (ATV) accident could receive disability benefits and assistance to pay for rehabilitation treatment to re-enter the workforce.
• The family of a man who dies accidentally could receive $100,000 in compensation to help cover costs and offset the loss of his salary. Accident insurance could also cover part of the funeral expenses and could even include benefits for higher education or childcare costs for the insured person’s children or to help the spouse if he or she has to go back to school.

Since I’m covered anywhere in the world with accident insurance, can I use it instead of travel insurance?

Accident insurance does not replace travel insurance. It covers you in the case of injury (death or serious, permanent injury), whereas travel insurance pays for urgent healthcare abroad or your repatriation to Quebec. They’re definitely not the same!

If a road accident in another country leaves you paraplegic, your travel insurance will pay your hospital and medical bills. Your accident insurance will provide you with compensation so you can adapt to your new life.

When we travel, we often use many different modes of transportation (plane, ship, ferry, bus, high speed train, taxi, auto rickshaw, etc.) and we walk a lot. That’s why it’s such a good idea to have insurance for transportation related accidents.

Why opt for accident insurance when I have life insurance?

Accident insurance is an extra coverage. It doesn’t replace life insurance because it’s only valid for accidents. However, because it is very affordable (generally less than $10/month) despite generous benefits, it can be an attractive option in particular for people who have difficulty getting insurance—it can often be obtained without a medical examination. Be aware, however, that insurers generally require the insured person to be at least 16 years old and a Canadian resident.

Why opt for accident insurance when the SAAQ already covers car accidents?

Société de l’assurance automobile du Québec (SAAQ) covers you if you get in an accident involving a vehicle, on a numbered road, as a driver, passenger, pedestrian or cyclist. You won’t be covered, however, if the accident occurs on a trail, on a private road, or while driving on ATVs or snowmobiles, barring exceptions. In addition, ambulance transport after an accident is not covered either.

SAAQ benefits depend on a number of factors, including age, marital status, family status, and employment status. With accident insurance, you receive a set amount that’s established in advance.

Why accident insurance is a good idea for students?

Certain trade school programs, like carpentry or welding, and school activities like field trips, internships, or sports, can leave students more susceptible to accidents.

• A student sprains her wrist on a hike.
• A basketball player breaks her leg during a game.
• A carpentry apprentice cuts himself badly in the classroom.
• An exchange student is injured in a bike accident during his stay in another province.
• And so on.

Student Accident Insurance is tailored to the school environment and the risks that come with it. As mentioned earlier, government plans often do not pay enough to cover all the expenses incurred in the event of an accident. Student Accident Insurance provides adequate coverage for all of the victim’s needs and those of their family, in both the short and long term. Like other accident insurance, benefits can be paid for dental and paramedical care, medical equipment rental or purchase, hospitalization costs, etc.

Can accident, life and other insurance benefits be combined?

In general, benefits are paid in the event of death, dismemberment or fracture, even if you are compensated by another plan, whether it be life insurance, group insurance, the SAAQ coverage, and so on. Certain fixed expenses are not reimbursed more than once. This is the case for ambulance transport. Accident insurance could, however, supplement a group insurance policy by paying the percentage not covered by the group policy for physiotherapy, for example.

In closing, remember that it is wise to shop around for insurance. Most insurance companies and banks offer accident insurance. Pay special attention to limitations and exclusions starting at a certain age or for certain activities.