The growing concern over road traffic accidents has driven research into technologies that can enhance detection, response, and post-accident analysis. This survey paper provides a comprehensive review of Accident Detection and Alerting Systems with a focus on the use of vehicle-installed Blackbox technology. The Blackbox, equipped with sensors such as accelerometers, gyroscopes, GPS, and cameras, records crucial data in real-time to detect accidents by monitoring factors like sudden deceleration, impact forces, and abrupt vehicle movements. In addition to accident detection, the system captures detailed information such as vehicle speed, location, and environmental conditions at the time of the incident. This survey highlights the key methodologies used in accident detection, explores various sensor technologies, and examines communication protocols that allow for real-time reporting to emergency services. Furthermore, it discusses the challenges in system deployment, data accuracy, and privacy concerns, while also analyzing post-accident use cases for legal and insurance purposes. Through an extensive review of existing literature and current implementations, this paper aims to identify gaps and future research directions in the development of more efficient and reliable accident detection systems.