ACCIDENTS INSURANCE

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WHAT IS

ACCIDENT INSURANCE?

Accident insurance serves as a financial safety net in situations where a sudden and unexpected event affects a person's health or ability to work. It helps reduce the financial consequences arising from injuries, burns, fractures, or other accidental events. By purchasing accident insurance, individuals protect themselves and their loved ones in advance, ensuring financial support for medical treatment and recovery costs should an unforeseen event occur.

An accident insurance policy provides compensation where an accident results in injury, impairment of health, or loss of working capacity. Benefits may be payable for medical treatment, temporary incapacity for work, permanent disability, or, in more serious cases, upon the death of the insured person.

 The main advantages of accident insurance are financial support and peace of mind. It provides reassurance that, even in unforeseen circumstances, assistance will be available to help cover expenses related to medical treatment, rehabilitation, or adapting to life after an accident.

Employee

accident insurance

Accident insurance is one of the ways an employer can take care of the safety and well-being of its employees. It provides financial protection in the event that an employee suffers an accident, whether at work or outside the workplace. This type of insurance is becoming increasingly important, as employees value employers who care not only about their professional development but also about their personal safety.

For employers, accident insurance is an excellent way to strengthen team cohesion and demonstrate corporate social responsibility. The policy provides employees with financial benefits in the event of injuries, fractures, burns, or other accidents, helping to cover the costs of medical treatment, rehabilitation, and recovery. In more serious cases, it may also provide benefits in the event of permanent disability or the death of the insured person.

An increasing number of companies offer accident insurance not only to their employees but also to their family members, thereby strengthening trust and loyalty. This approach represents an investment that enhances employees' sense of security, motivation, and productivity.

It can also be financially advantageous for the employer. Subject to the applicable provisions of Latvian tax legislation, accident insurance may qualify as a tax-efficient employee benefit while enhancing the company's reputation and competitiveness in the labour market. By investing in the safety of its employees, an employer invests not only in its people but also in the stability and long-term development of its business, as employees who feel protected are more likely to remain productive, committed, and effective.

Private

accident insurance

A personal accident insurance policy is a form of financial protection for unforeseen life events. It cannot be purchased after an accident has already occurred—accident insurance is a way to protect yourself and your loved ones in advance, ensuring financial support when unexpected circumstances arise.

The purpose of accident insurance is to provide cover for sudden and unforeseen losses resulting from accidental events, such as injuries, burns, fractures, permanent disability, or death. It is not intended to provide compensation for pre-existing medical conditions or illnesses, but rather for unexpected events that result in loss or injury.

Private accident insurance is designed to provide long-term financial security. It may provide benefits for medical treatment, rehabilitation, temporary incapacity for work, or permanent disability. In more serious cases, the policy may also provide financial support to the insured person's family in the event of the insured person's death.

To receive a quotation for private accident insurance, an application form containing information about the applicant's occupation and lifestyle must be completed. Based on its assessment of the risk, the insurer will determine the insurance premium and the applicable terms and conditions of coverage. Age limits and underwriting criteria may vary between insurance companies.

Several insurance companies in Latvia offer private accident insurance. Colemont FKB Latvia will help you identify the most suitable solution by comparing available offers and recommending the coverage that best meets your needs.

You may be eligible for personal income tax relief in respect of the insurance premium paid. To claim this relief, an Annual Income Declaration must be submitted through the State Revenue Service's Electronic Declaration System (EDS), together with a payment document confirming the purchase of the insurance policy.

ACCIDENT INSURANCE

POLICY PRICE

There is no doubt that the policy price is one of the key factors when choosing accident insurance. As with other types of insurance, both the basic programme and any supplementary programmes are tailored individually, taking into account each client's needs, preferences, and financial circumstances. Before concluding an insurance contract, it is advisable to compare offers from several insurers in order to identify the most favourable balance between price and coverage.

The policy price, i.e. the insurance premium, is determined by several factors, including the number of insured persons, their age, gender, occupation, and the selected insurance coverage. The sum insured and the client's previous accident insurance claims history are also taken into consideration, including whether claims have been submitted previously and their value. In general, the broader the coverage and the higher the level of risk, the higher the insurance premium.

Obtaining an accident insurance quotation is straightforward. Simply contact one of our insurance brokers, who will assess the information provided and prepare the most suitable insurance options. Our broker will help you compare offers, explain the differences between available programmes, and answer any questions that may arise both before the insurance contract is concluded and throughout the policy period. You may also consult the broker regarding claims submission, reimbursement of expenses, or any other insurance-related matters.

Companies that purchase accident insurance for their employees may be entitled to tax relief in accordance with the legislation of the Republic of Latvia:

  • In accordance with Section 8, Paragraph 5 of the Corporate Income Tax Law, premiums for health, life, and accident insurance are not subject to corporate income tax, and the company's taxable profit may be reduced by the amount of the insurance premiums paid.

  • In accordance with Section 8, Paragraph 5 of the Law "On Personal Income Tax", premiums for health, life, and accident insurance are not subject to personal income tax, provided that the premium does not exceed 10% of the insured person's annual gross salary and EUR 750 per year.

  • In accordance with Section 14, Paragraph 7 of the Law "On State Social Insurance", premiums for health, life, and accident insurance are not included in the mandatory social insurance contribution base, provided that the premium does not exceed 10% of the insured person's annual gross salary and EUR 750 per year.

Find out the policy price

WHAT IS INCLUDED

IN AN ACCIDENT INSURANCE POLICY?

An accident insurance policy consists of a basic programme, to which one or more supplementary programmes may also be added. The basic programme provides financial protection against unforeseen life events, such as injuries, burns, fractures, or other health conditions resulting from an accident.

The basic programme typically includes:

  • Compensation for medical expenses – the insured person receives benefits for doctor consultations, medical procedures, surgeries, prescribed medications, and rehabilitation required as a result of an accident.

  • Daily benefit for temporary incapacity for work – if, as a result of an accident, the insured person is temporarily unable to work, a specified benefit is paid for each day of incapacity for work.

  • Compensation for permanent disability – if an injury results in long-term or irreversible impairment of health, a lump-sum benefit is paid in proportion to the degree of permanent disability.

  • Death benefit – if an accident results in the death of the insured person, the specified sum insured is paid to the designated beneficiaries (for example, family members).

Supplementary programmes allow you to extend the scope of protection and tailor the policy to your individual needs:

  • Additional sports coverage – provides cover for injuries sustained during sports training, competitions, or recreational sporting activities.

  • Additional daily hospital benefit – an additional benefit is paid for each day spent in hospital following an accident.

  • Rehabilitation expenses cover – provides reimbursement for physiotherapy, therapeutic exercise, and other rehabilitation procedures.

  • Medical aids coverage – the policy may cover the cost of orthoses, crutches, walking sticks, synthetic casts, and other medical aids.

  • Plastic surgery expenses – if reconstructive surgery is required following an accident, these expenses may be covered up to the specified limit.

  • Social care coverage – if the insured person's glasses or contact lenses are damaged or destroyed as a result of an accident, the insurer reimburses the cost of purchasing equivalent optical aids.

Special social care coverage – glasses and contact lenses

Vision is one of the most important human senses, and glasses or contact lenses are indispensable in everyday life. That is why our programme offers unique coverage for optical aids.

If glasses or contact lenses are damaged or broken as a result of an accident, the insurance policy reimburses the cost of purchasing new equivalent glasses or contact lenses.

This means:

  • You do not have to worry about additional expenses following an accident;

  • Your glasses or contact lenses are replaced with optical aids of an equivalent standard;

  • The coverage applies at work, at school, at home, while participating in sports, and while travelling abroad.

    This protection is particularly valuable for:

  • people who regularly wear glasses or contact lenses;

  • children and young people who frequently participate in sports or other outdoor activities;

  • people whose work or studies depend on clear vision.

Additional benefits

  • Compensation for inpatient and outpatient medical treatment, including diagnostic examinations, rehabilitation, and prescribed medications.

  • Coverage for critical illnesses, such as heart attack, stroke, oncological diseases, or neurological disorders.

  • Protection against tick-borne diseases, provided the insured person has been vaccinated.

  • The option to tailor coverage for motorcyclists and mountain bikers.

  • Insurance suitable for amateur athletes during training sessions and competitions.

In addition to financial support, accident insurance also provides peace of mind—the confidence that, in difficult situations, assistance and financial compensation will be available, enabling a quicker return to everyday life. It is an important investment in your personal safety, health, and quality of life.

Colemont FKB Latvia's accident insurance programmes provide modern, flexible, and practical protection against everyday risks. They offer financial security, support a faster recovery, and provide peace of mind for you and your family. The special coverage for the replacement of glasses and contact lenses makes this programme unique, as we care not only about your health but also about your quality of life and visual comfort.

WHY IS ACCIDENT INSURANCE

NECESSARY?

Life is unpredictable—even during the most careful daily routine, accidental falls, injuries, or unexpected health problems can occur. Colemont FKB Latvia has developed accident insurance programmes with special social care coverage for glasses and contact lenses, providing financial security and helping you recover after unexpected events, whether at home, at work, or while travelling.

 

  • Protection is available 24 hours a day, worldwide.

  • Coverage is available for both adults and children.

  • Compensation is provided for injuries, fractures, burns, permanent disability, or death resulting from an accident.

  • Medical treatment, rehabilitation, prescribed medications, and dental treatment expenses are covered.

  • A daily benefit may be payable during temporary incapacity for work following an accident.

  • Additional coverage is available for amateur sports, including running, football, cycling, windsurfing, and other sporting activities.

    Who is the insurance suitable for?

  • Families – providing protection for parents and children in everyday life.

  • Children and students – covering injuries sustained at school, during sports training, or at camps.

  • Employers – group accident insurance as an employee benefit.

  • Active individuals – including sports enthusiasts and travellers who want protection in any situation.

SIA Colemont FKB Latvia

Tālr.: +371 27000390

e-pasts: polise@colemont.lv

Reģ nr.: 40003484130

Āraišu iela 34, Rīga, LV-1039

Banka: AS Swedbank

Bankas kods: HABALV22

Darījumu konts: LV90HABA0001408055066

Saimnieciskais konts: LV92HABA0551005786836