Are you wanting to purchase Occupational Accident Insurance for truckers? Here you’ll find an in-depth guide on how the coverage works, and you can buy accidental insurance online easily and quickly.
What is Occupational Accident Insurance for Truckers?
Accident insurance is a type of supplemental disability insurance coverage a truck driver can purchase to protect their paycheck if they get injured including Accidental Death and Dismemberment insurance, loss of sight, speech, and hearing.
Some companies don’t provide the option to purchase traditional disability insurance at work, and some contractors can’t be insured. This is where the personal accident insurance policy comes into play.
The neat thing about this liability insurance product is everyone is guaranteed (no medical underwriting) to get coverage despite health issues (occupational exclusions below), and the process takes about 10 minutes from start to finish.
Disability Insurance vs. Accident Insurance
Disability insurance provides you benefits every month you’re disabled, voluntary accident insurance only pays you over a fixed period of time. In this case, the occupational accident insurance will pay you as long as your disabled, up to 52 weeks.
Also Known As
- Accident Only Disability Insurance
- Temporary Disability Insurance
- Supplemental Accident Insurance
- Group Accident Insurance
- Guaranteed Issue Disability Insurance
- Accidental Disability Insurance
- Accidental Death and Disability Insurance
- Accidental Death Insurance
- Accidental and Disability Insurance
- Injury Insurance
- Accident Income Replacement Benefit
- Accidental Temporary Total Disability Insurance
- Personal Accident Insurance Plan
- Occupational Accident Insurance
- Life Accident Insurance
- Health and Accident Insurance
Who is Accident Insurance Perfect For?
- Dry Van Van Drivers
- Flat Bed Drivers
- Tanker Drivers
- Refrigerated Freight Drivers
- Freight Haulers
- LTL Freight Drivers
- Local/Regional/OTR Drivers
How Does the Insurance Work?
You buy a personal or group accident plan for a fixed price, and you pay that premium every month you want to be covered.
If you get injured, you will report an accident claim to the insurance company, wait for the elimination period, and then start receiving the supplemental income paychecks (varies by the individual accident policy) until you get well enough to return to work or a maximum of 52 weeks whichever comes first.
Who is the Accident Insurance Company?
Individual and Group Accident Insurance Products are underwritten by Federal Insurance Company (a Chubb Company). Chubb Insurance is the world’s largest publicly traded property and casualty insurance company.
Chubb is rated AA by Standard & Poor’s and A++ with A.M. Best.
Accidental Death And Dismemberment Insurance
Accidental Death and Dismemberment insurance is included with this disability insurance plan. Basically, if the insured is dismembered from the accident, the insured will receive the AD&D life insurance benefit which is currently $5,000. Dismemberment includes:
- Loss of Speech
- Loss of Hearing
- Loss of Hand or Foot
- Loss of Sight
The insured’s beneficiary will receive the $5,000 lump sum Accidental Death Insurance benefit if the insured’s death was directly caused by the accident.
How Much Does Accident Insurance Cost?
Occupational Accident Insurance for Truckers start around $18 a month on the low end and $40 a month on the high end for a single person.
What is excluded from this accident insurance plan?
1) an Insured Person being in, entering, or exiting any aircraft:
a) owned, leased or operated by the Policyholder or on the Policyholder’s behalf; or
b) operated by an employee of the Policyholder on the Policyholder’s behalf;
2) an Insured Person riding as a passenger in, entering, or exiting any aircraft while acting or training as a pilot or crew member. (This exclusion does not apply to passengers who temporarily perform pilot or crew functions in a life-threatening emergency.);
3) an Insured Person’s emotional trauma, mental or physical illness, disease, pregnancy, childbirth or miscarriage, bacterial or viral infection, bodily malfunctions or medical or surgical treatment thereof. (This exclusion does not apply to an Insured Person’s bacterial infection caused by an Accident or by Accidental consumption of a substance contaminated by bacteria.);
4) an Insured Person’s commission or attempted commission of any illegal act, including but not limited to any felony;
5) any occurrence while an Insured Person is incarcerated after conviction;
6) an Insured Person being intoxicated, at the time of an accident. Intoxication is defined by the laws of the jurisdiction where such Accident occurs;
7) an Insured Person being under the influence of any narcotic or other controlled substance at the time of an accident. (This exclusion does not apply if any narcotic or other controlled substance is taken and used as prescribed by a Physician.);
8) an Insured Person being engaged in or participating in a motorized vehicular race or speed contest;
9) an Insured Person participating in military action while in active military service with the armed forces of any country or established international authority. (This exclusion does not apply to the first 60 consecutive days of active military service with the armed forces of any country or established international authority.);
10) an Insured Person traveling or flying on any aircraft engaged in Specialized Aviation Activities;
11) an Insured Person’s suicide, or attempted suicide or intentionally self-inflicted injury;
12) a declared or undeclared War.