If you have kids in sports - or an active family in general - accident insurance is worth considering. But like all supplemental products, it's important to do the math.
What Accident Insurance Covers
- ER visits due to accidents ($100 to $300 benefit)
- Broken bones ($200 to $1,000+ depending on the bone)
- Dislocations ($200 to $800)
- Burns, lacerations, concussions
- Ambulance services ($200 to $500)
- Follow-up care and physical therapy
Cost
Family accident insurance typically costs $25 to $50/month and covers the entire household.
When It Makes Sense
- Kids in organized sports (soccer, football, gymnastics, etc.)
- Active lifestyle (skiing, biking, rock climbing)
- High-deductible health plan (accident benefits help cover the deductible)
- You'd struggle to cover a $1,000 to $3,000 unexpected ER bill
When It Probably Doesn't
If you have a low-deductible health plan and a healthy emergency fund, the additional cost of accident insurance may not provide enough value to justify the premium. Explore all supplemental insurance options.