Compensa accident insurance

Children’s insurance is a service offered by Compensa to give parents peace of mind. It ensures that if an accident occurs, the insurer will fully or partially cover the costs, allowing parents to focus more on their child’s well-being.

Every parent wants their children to be healthy and happy. If medical care is needed, parents want their children to receive the best possible treatment.

In Latvia, children under 18 are entitled to free healthcare. However, accessing certain services often requires waiting months for specialist appointments. In urgent situations, this can be problematic.

To provide children with timely access to the best healthcare and to give parents peace of mind that these costs will be covered, Compensa offers children’s accident insurance. This type of policy covers various risks and provides compensation to cover treatment expenses.

Compensa child insurance offers many benefits that make financial planning easier for parents and provide protection in unexpected situations. Some of the key benefits include:

• Children are unpredictable – kids naturally do not fear different situations or conditions, which means they often take risks without thinking, like climbing trees, swimming, or riding a bike. In their carelessness, children may also damage other people's property. Compensa insurance programs “Ekstra”, “Ekstra +”, and “Ekstra ++” cover liability, so any damage caused to third-party property will be covered by the insurer, and parents do not need to worry.
• Coverage of medical expenses – Compensa child insurance programs “Ekstra”, “Ekstra +”, and “Ekstra ++” also cover costs for treating children after accidents or injuries.
• Insurance for active children – children who participate in sports are more exposed to the risk of injuries. To give parents peace of mind, children can be insured when joining sports clubs. Depending on the chosen sport, a small additional premium is added to the annual insurance. It is especially important to insure children who participate in competitions, as the risk of injury is higher under stressful conditions.
• Different insurance programs available – parents can choose the insurance program that best suits their needs. Programs differ based on the types of risks covered and the annual premium.
• School bag insurance – Compensa knows that the most valuable item children always carry is their school bag, so child insurance also covers this important property. In case of an accident affecting both the child and their school bag, the insurer provides compensation within the set limits for the bag and its contents, including textbooks, stationery, and notebooks. Sports shoes and sportswear are also included with the school bag.
• Insurance from the first days of life – as soon as a child has a birth certificate, they can be insured. This allows parents to have some peace of mind during the most anxious times in a child's early life.
• Modern claims process – for customer convenience, Compensa offers several ways to file a claim – it can be submitted online on the Compensa website, by email, by mail, or in person at a customer service center.
• Worldwide, 24/7 coverage – insurance is valid everywhere at any time, including school holidays, weekends, and public holidays. The only exception is the “medical expenses” coverage, which applies only in Latvia.
• Child insurance is available for all children up to 18 years old – from infants to schoolchildren and teenagers.

Primarily – for parents' peace of mind. unfortunately, Latvia still ranks first in the European Union for child injury cases.

Child insurance is a type of personal insurance that helps protect against various risks children face every day. data from medical institutions clearly show that child injuries are still quite common, so this additional insurance allows parents to cover extra costs that may arise from their child's treatment.

Compensa child insurance policy is designed with:

• active and energetic children who love to explore and experience life with all their senses
• parents who need to cover their children's medical expenses
• children who enjoy sports and different athletic activities
• children whose school bag is their most precious and valuable possession
• children who have just arrived in the world and want to explore it with all their senses
• parents who value convenience and like to submit claims online
• parents who want fast and efficient claims processing
• parents who appreciate the option to choose different coverage and risks depending on circumstances and needs
• parents who understand that a few euros per month is a small price for peace of mind and safe activities

Partly, this is true – carelessness is indeed a common reason for injuries. for example, not watching where you step can cause a trip and a fall. people sometimes act without thinking, overestimating their abilities, which can lead to bruises or broken bones. it happens.

accidents also occur due to sudden and unpredictable circumstances. for instance, a traffic participant may cause a crash, but another nearby person suffers the consequences. statistics show that recently, pedestrians have been more frequently injured in collisions with cyclists or people using electric scooters.

No, this is not true.

Children are more likely to get injured during sports training and competitions. adults, on the other hand, are more often hurt in everyday situations, for example, while doing housework, working in the garden, using tools, lifting heavy objects, falling from heights, or playing recklessly with pets.

Maybe nothing will really happen. however, optimistic predictions do not always come true. that’s why never say never – as charles dickens wrote nearly 200 years ago in his “the pickwick papers.” we still repeat these words in many situations in life.

compensa statistics show that each year, insurance compensation is paid to about one in ten (10.3%) clients who have purchased a personal or child accident insurance policy.

That is a misconception.

It is possible to choose an accident insurance policy with different coverage options and limits. the price of the policy depends on these choices. for example, choosing a standard program, the insurance policy costs only 8 euros per year. moreover, if the policy is purchased during a promotion, for example with a 25% discount, the annual cost will be only 6 euros, or 50 cents per month.

The average compensation paid to victims after an accident is 312 euros.

However, the amount of compensation varies greatly. it depends on both the severity of the injuries sustained in the accident and the chosen insurance program.

so far, the largest accident compensation paid by Compensa in Latvia is 35,600 euros. this amount was paid after a traffic accident in which the victim suffered severe injuries that later resulted in disability.

Costs and expenses related to an accident are compensated by the insurer according to the risks and conditions included in the insurance policy.

If you need consultation and a detailed explanation of the coverage options before signing the contract, ask your insurance specialist all the questions you want clear answers to.

Never hesitate to ask and ask again if anything in the insurance contract seems unclear.

The main risks in accident insurance, for which compensation is most often paid, are fractures and injuries. medical expenses are covered only if the insurance policy includes the "medical expenses" risk and specifies the corresponding treatment costs.

That is a mistaken belief!

Health insurance and accident insurance are two different types of insurance with different conditions and coverage of risks.

Health insurance protects employees against unexpected costs for medical care in case of illness. by purchasing health insurance, an employer gives employees access to quality medical services, helps them recover faster, and return to work sooner.

Accident insurance, on the other hand, protects against financial losses after unexpected accidents, such as household or sports injuries.

An employer’s promises to take care of employees and provide support in unexpected situations can bring peace of mind. but are these promises fixed in a written contract? If not, there is little basis for reliance, because unwritten promises do not create any legal obligations. an insurance policy, on the other hand, is a contract that precisely and clearly defines the insurer’s obligations in case of an accident.

If an injury occurs at work and medical care is needed, the circumstances of the accident must be reported not only to medical professionals but also to the State Labour Inspectorate, which is responsible for investigating workplace accidents to determine their causes. it should be noted that unscrupulous employers sometimes try to hide such accidents and even persuade victims to claim that the injuries occurred in domestic circumstances.

It is very important to remember that lies or omissions about the circumstances of a workplace accident can backfire on the victim, preventing them from receiving proper support.