Looking for Personal Accident Insurance?
If you’re unable to work or earn income due to an accident or injury would you still be able to cover your outgoings? Personal accident insurance can offer you peace of mind and financial help.
When your accident or injury results in a hospital stay or leaves you physically unable to work then you won’t want to be worrying about how to cover your bills. Taking out a personal accident insurance policy means that you could receive a payout which would help to support you and your family. You could use this money to pay bills and other living expenses so that you can concentrate on getting better.
What kind of injury does personal accident insurance cover?
Although each insurer will have their own individual inclusions and exclusions, there are a variety of accidents and injuries that can be covered under this type of policy. You could receive cover against things like:
Working in a high-risk industry
There are some industries and careers that naturally come with a higher risk of injury than others. Those working in construction, farming, manufacturing or the emergency services may want to investigate the possibility of taking out a personal accident insurance policy to help them in times of need. Insurers will look at your job to decide the level of cover and your monthly premium, so don’t be surprised if you end up paying a little more each month.
Personal accident insurance payout details
When you purchase your personal insurance policy, you’ll often be given a set of terms for payout should you need to make a claim. This will cover things such as:
For example, you may not be able to receive the exact same as your monthly wage, it may be something like 75%. Insurers may also put a time cap on the claim length too which could be around two years.
Personal Accident Insurance – Useful FAQs
Not necessarily. Although some insurers will include it as standard, or you may be asked to opt in, you will need to double check to make sure.
Every insurer is different so it’s difficult to say. Some won’t need to know your medical history, but others may want a bit of information about pre-existing medical conditions. If you’re about to purchase a policy it can’t hurt to have that information to hand just in case.
Potentially yes. Ask your insurer if it’s a possibility and go from there.
Unfortunately, personal accident insurance doesn’t usually cover you for illness, only accident and injury.