What is Accident Insurance?
When you go about your daily routine to work, school, sports, the shops or simply when you are at home, there is a chance of major or minor injuries - slipping on a slippery floor or pavement, getting into a road accident, sports injuries. Accident insurance will make sure that you receive financial compensation for treatment and compensation for injuries caused by external circumstances that affect your health and ability to work.
To save money, families with children are advised to buy an insurance policy for all family members at once, rather than taking out insurance for each individual.
What is covered by an Accident Insurance Policy?
The risks covered by the insurance policy can be tailored to suit your lifestyle, so the indemnity will depend on the level of risk you choose.
The main accident insurance risks covered by an insurance policy are usually:
- Injuries and broken bones, e.g. after a road accident, electric shock, frostbite or burns, etc;
- coverage for life-threatening illnesses such as toxic poisoning, tick bite, heart attack, stroke, etc;
- reimbursement for hospital treatment, covering the hospital daily subsistence allowance;
- daily subsistence allowance in the event of temporary incapacity for work for each working day of incapacity for work;
- compensation in the event of invalidity or death as a result of an injury sustained in an accident;
- medical expenses and compensation for medical services incurred after the accident, including the purchase of various aids such as wheelchairs, crutches, operations, X-ray diagnosis, cosmetic surgery, etc;
- funeral expenses - if the accident caused the insured person's death;
- reimbursement for the services of a psychologist or psychotherapist if the accident results in a disability or the employee is diagnosed with a life-threatening illness for the first time. In the event of death, the support of a specialist may be provided to a relative.
What is the area covered by the Insurance Policy?
The territory of the insurance contract may be Latvia or the whole world, but the reimbursement of medical expenses will only apply in Latvia, regardless of the territory of the contract, unless otherwise specified in the contract.
What is not covered by the Insurance Policy?
The conditions vary from insurer to insurer, but most often no reimbursement will be granted:
- if the insured was under the influence of alcohol, drugs or other intoxicating substances at the time of the event;
- if the insured person was driving without the right licence or if he/she committed a serious traffic offence;
- if they are the result of malicious intent or unlawful conduct;
- if the injury or infection, which is not visually apparent, has not been confirmed by a doctor of an appropriate speciality;
- if the illness is due to ageing or is chronic;
- if the insured person has not been vaccinated against tick-borne encephalitis;
- if the accident was caused by a mental or psychiatric disorder, etc.
What should I do if I have an insured event?
If an insured event occurs, you must inform the insurer as soon as possible and fill in an application form. If requested, you must submit additional documents so that the insurer can assess the event and decide on the amount of the claim.
Important! When taking out an insurance contract, read the terms and conditions and the amount of the excess carefully.
What customers say about us
Always a pleasant cooperation, both in the professional aspect and in communication in general. Detailed and precise, but at the same time in simple words, information about the nuances and risks of insurance allows you to choose the right one for you with confidence. RED Insurance Broker is a reliable partner who truly understands the client's needs and is able to find the best possible solution within the agreed costs.
Dina Mirac
HR Director for the Baltics
Ltd Do IT
