Accident Insurance

Accident Insurance Policies

Chicago Insurance Advisors

What it is and how it relates to workplace benefits offered by employers

Accident insurance is an insurance package that is used to protect employers from unexpected accidents that occur on the job. It is a package that creates a safety net around the firm so that no-fault accidents that occur to employees and to customers will not bankrupt the business if the company is held liable for the medical expenses.

Who it is for

This type of insurance can be for any type of business, large or small. Accident packages can protect any company from a large out of pocket expense for medical costs as well as any adjunct costs that may be tacked on by a court in regards to an accident.

How it works

Insurance packages have a set form; however, they can be modified through line item changes. Customization can be very expensive, however. Insurance usually kicks in if a company is found liable for the medical expenses of a person who is injured on the company premises. There is usually a deductible that must be paid by the insured company before the payment kicks in. The size of this deductible can be negotiated between the insurance company and the business as well.

Different types of coverage in existence

Customization means that accident packages can literally cause an infinite number of types of insurance.

Major benefits

The number one benefit of accident packages is the ability to stay in business even if there is an unexpected accident. Many companies will also create a great deal of goodwill with potential partners, employees and customers if they know that a strong insurance policy is in place on the business location. Many top suppliers will not do business with a company that does not have one.


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