When it comes to insurance policies, there are many options to choose from. Some people may opt for a basic insurance plan that covers everything from accidents to illnesses, while others may only want coverage in the event of an accident.

So when do you want coverage for only accidents?.

When You’re on a Tight Budget

If you’re on a tight budget, you may not be able to afford comprehensive insurance coverage. In this case, you may want to consider an accident-only insurance policy.

This type of policy will provide coverage for accidents such as slip-and-falls or car accidents without breaking the bank.

When You Have Other Forms of Insurance

If you have other insurance policies that cover your health or auto insurance, you may not need comprehensive coverage.

Accident-only coverage can be an affordable alternative that will cover any accidents that happen outside of your other insurance policies.

When You Participate in Risky Activities

Do you participate in risky activities such as extreme sports or high-risk jobs? If so, you may want to consider accident-only insurance coverage.

This will provide you with the necessary coverage in the event of an accident without paying for coverage you don’t need.

When You’re Self-Employed

If you’re self-employed, you may not have access to benefits such as disability or workers’ compensation insurance. In this case, an accident-only policy can provide you with the necessary coverage in the event of an accident without breaking the bank.

When You’re Traveling

If you’re traveling to another country, your current insurance policy may not cover accidents that happen outside of your home country. In this case, accident-only insurance coverage can provide you with the necessary protection while you’re abroad.

When You’re a Young Driver

Young drivers are often considered a high-risk group in the eyes of insurance companies. This can make it difficult to find affordable comprehensive insurance coverage.

In this case, an accident-only policy can provide young drivers with the necessary coverage without paying for coverage they may not need.

When You Have a High Deductible

Some insurance policies come with high deductibles, which means you’ll have to pay a lot out of pocket before your insurance coverage kicks in.

If you have a high deductible, an accident-only policy can provide you with the necessary coverage without breaking the bank.

When You Want Flexibility

An accident-only policy can provide you with the flexibility to customize your coverage to your specific needs. This means you can choose the specific types of accidents you want coverage for and avoid paying for coverage you may not need.

When You Want Peace of Mind

Accidents can happen when you least expect them, and they can be expensive to deal with. Having an accident-only insurance policy can provide you with peace of mind knowing that you’re covered in the event of an accident.

Conclusion

When it comes to insurance policies, there are many options to choose from. If you only want coverage in the event of an accident, an accident-only insurance policy may be the right choice for you.

Consider your budget, risk factors, and need for flexibility when choosing the right insurance policy for your needs.