The legally required health insurance through the mutual insurance company reimburses part of your medical expenses, but by no means all of them. Especially after an accident, chances are you'll have to pay a lot out of your own pocket. Unless you have personal accident insurance.
Which takes care of unexpected medical expenses after an accident in your personal life. Whether it happens at home while cooking or chores , while practicing your hobby or somewhere en route . Note that an accident at work or on the way there should be reported to your employer's work accident insurance.
This personal accident insurance also provides compensation if you become disabled (temporarily or permanently) or die. Moreover, it shares in the costs if, due to the consequences of your accident, you need to modify your home (e.g., install a stair elevator) or require a different car (e.g., wheelchair accessible).
Don't I have my family insurance for that? No, the family or family policy intervenes when you cause harm to others. Personal accident insurance deals with injuries to yourself (or one of your family members).
And what is the difference with hospitalization insurance? That's mainly in the fact that your personal accident insurance also intervenes when you're not hospitalized. But it's true that both overlap to some extent.
There is also some overlap with driver's insurance, a variant of the personal accident insurance you may have taken out with your auto insurance. As with the guaranteed income insurance you probably have as a self-employed business owner.
Unsure if you're overinsured? Feel free to stop by and we'll check it out for you.
Disclaimer
This page is part of a lexicon and does not provide product information or contractual details on insurance services. For specific information, please refer to the official documentation or contact your insurance agent.
