In December I posted the answers to some frequently asked questions regarding workers’ compensation insurance. As I explained, in some cases individuals cannot purchase workers’ compensation for themselves. Additionally, many individuals choose not to include themselves in coverage due to the costs. However, just because workers’ compensation isn’t the perfect fit for you doesn’t mean you should go entirely without some sort of protection against work related injuries. Instead, consider the many benefits an occupational accident (Occ/Acc) policy can provide to you at a very reasonable monthly premium.
Let’s start with a basic explanation of the coverage. Occ/Acc is not workers’ compensation, but is similar in that it helps pay for medical bills related to an on the job injury and provides some compensation for lost wages. Many Occ/Acc policies that are written for professional truck drivers will even extend coverage to include passengers who are injured or killed while riding in your truck.
Below is an outline of four major features of an occupational accident policy:
1.) Accidental Death & Dismemberment: Pays one lump sum and, in many cases, additional monthly payments to you or, in the event of your death, your survivors, to help adjust to the lifestyle change as a result of the accident.
2.) Accidental Medical Expense: Pays medical treatment costs associated with job related injuries, up to the policy limits and subject to any applicable deductible.
3.) Temporary Total Disability: Supplements your income in the event that an on the job injury results in your being unable to work for an extended period of time.
4.) Continuous Total Disability: Extends the Temporary Total Disability Benefit if your injury has been deemed permanent. The amount paid is normally offset by your available Social Security Disability Income.
The cost associated with an occupational accident policy is extremely affordable, with premiums starting as low as $130 a month. Policy limits range from $500,000 to $2,000,000.
Is occupational accident coverage the right fit for you? Give us a call today at (800) 596-TRUCK(8782) to learn more or request a quote. All of us at the Navigator Truck Insurance Agency work hard at being accessible, helpful and result oriented.
Until next month,
Jeffery A. Moss
President