Accidents happen when you least expect them and can seriously impact both your health and your finances. A personal accident insurance policy complements your health coverage by paying you a fixed sum if you suffer an accidental injury. According to HealthInsurance.org, these policies provide cash benefits—up to a predetermined limit—for accidental injuries, designed to supplement medical insurance. These benefits are paid directly to the insured, not to medical providers. Coverage ranges from minor sprains to severe injuries and helps you manage out-of-pocket expenses, loss of income, and travel. Some policies also include additional benefits for accidental death or dismemberment.