Exposure to different kinds of risks is part of life. However, we can minimize our financial exposure in case of an accident. This article talks about three common types of accidents and how we can protect ourselves from their financial impact.
- Accidents on the road. There are different reasons for accidents on the road: vehicles with mechanical issues, driving under the influence of alcohol or drugs, poorly constructed or maintained infrastructure, and non-compliance to traffic rules. Any of these may result in damages to your own vehicle, other vehicles involved, as well as public and private properties. What’s worse is you, your passengers, and passengers in other vehicles or even pedestrians may be put at risk to injuries or even death.
Being a responsible, intelligent driver is something within your control to help prevent accidents. Furthermore, you can arm yourself from the financial distress of car repairs and medical expenses that may arise from these road accidents with car insurance that goes beyond the basics. AXA Philippines’ comprehensive car insurance, for example, covers vehicle against own damage, theft, third party liabilities, and personal accident for passengers. But damages caused by Acts of Nature and 24/7 Roadside Assistance are optional. - Accidents at home. Accidents can happen even from the safety of our homes. From fire caused by a faulty LPG tank, short circuits, to trips and falls on a wet floor or rickety stairs. Accidents are even more likely to happen if you live with kids and the elderly.
It would help to conduct regular inspections, at least twice a year, to check the integrity of the structure and look for hazards that may threaten the safety of your household members and potential visitors. If you find anything, repair them right away. Also, equipping your home with fire safety equipment such as fire extinguisher, smoke alarm, and sprinklers is highly suggested.
Aside from the ones mentioned above, accidents resulting from natural calamities such as earthquakes, floods, and typhoons are also possible while we’re at home. Stay protected with a Personal Accident Insurance to help shoulder expenses incurred in treating injuries sustained from these accidents.
The safety of everyone in our household should always come first. On the other hand, it wouldn’t hurt to protect our house in case of accidents, too. AXA offers home insurance that not only covers your property against fire, lightning, and acts of nature but also includes extensions of coverage, such as personal accident protection for the family. - Accidents while traveling. Unfortunately, there’s no immunity from accidents while you’re on vacation abroad and supposed to be having fun or relaxing. Among the three types of accidents, this may be the most stressful because you’re in a foreign land, not able to speak the country’s language, with no familiar faces to call for help, and an accident would most likely spoil your trip. For a small premium, travel insurance gives you that layer of assurance in case of an accident overseas. Consider it a non-negotiable thing to “pack” whenever and wherever you travel.
AXA offers its Smart Traveller insurance that financially protects you from a wide range of accidents and trip inconveniences such as losing a piece of luggage, flight delay or flight cancellation. It boasts comprehensive emergency medical benefits and round-the-clock travel assistance in case you need immediate support following an incident.
AXA also has a product that’s specifically designed to cover personal accidents.
My Security is a packaged PA insurance product which covers Accidental Death and Permanent Disablement, Medical Reimbursement due to Accident, Burial Expense, Unprovoked Murder & Assault, even hospital allowance in case you are confined to a hospital due to accident.
Anything can happen whether you’re at home, on the road, or abroad. It pays to always have the presence of mind and foresight to prepare for possible accidents and their physical and financial consequences. Some accidents could’ve been prevented, while some are bound to happen despite our best efforts to avert them. In any case, it’s good to be able to sleep at night knowing you’ve done your part to be prepared.
Know you can game plan for yourself and your family from the financially crippling impact of accidents. Contact an AXA financial advisor today to know more.
