Contracting Life

Do I need personal accident cover as a self-employed contractor?

Personal accident cover isn’t often considered when contractors think about what business insurances they need. After all, that research is…

Author Photo by Kingsbridge

Personal accident cover isn’t often considered when contractors think about what business insurances they need. After all, that research is often dominated by the likes of public liability cover and professional indemnity. But for the self-employed, personal accident insurance really should be considered essential. After all, as a contractor, you don’t have the same entitlement to sick pay as an employee, so how do you cover your income if you find yourself injured and unable to work? That’s where occupational personal accident cover for contractors steps in.

It’s there to help you keep your mortgage paid, heating on, and food on the table until you’re back on your feet again, or to provide you with a significant lump sum should you suffer permanent disablement from an occupational accident. It’s not exactly nice to think about, but that’s exactly why you should look into it. For more details on this key addition to your insurance armoury, read on.


What is occupational personal accident cover?

In short, personal accident cover for contractors covers you for accidents or injuries sustained while carrying out your professional services. As an example, imagine you’re an oil contractor who has a fall while working on a rig with a client and you shatter your leg. You have to take a year off work while you undergo multiple operations and physiotherapy. Your personal accident cover will pay a weekly sum of up to £500 for the 52 weeks you’re off in order to provide you with some replacement income.

Or imagine you’re an engineer who is repairing a machine when someone switches it on without the proper checks. The severe trauma means your arm cannot be saved and is instead amputated. Your personal accident cover would pay out a significant lump sum which, while it can’t compensate for the loss of a limb, it can help support you financially and give you means to help you adjust to your life post-amputation.

Where your accident takes place is crucial too. Occupational personal accident cover from Kingsbridge covers you for accidents that happen:

  • During your journey to and from work
  • While working at your client’s premises
  • While working from your home, office, or other workplace

This is important because even if you’re unlikely to be injured carrying out your work, you could be involved in a vehicle collision on your commute – you would be covered in either instance. And say the worst should happen and an accident resulted in your death, a lump sum would be payable to your estate. While it couldn’t make up for the loss of you, it could help to support your loved ones financially in order to ease some of the stress during such a difficult time.

Typically, personal accident insurance for contractors covers you for:

  • Permanent partial disablement and permanent total disablement from usual occupation – up to £50,000 lump sum
  • Temporary total disablement from usual occupation – weekly payment of up to £500 per week (for a maximum of 52 weeks)
  • Death – £100,000 lump sum payable to your estate


Is personal accident cover a legal requirement for UK contractors?

Personal accident cover is not a legal requirement in the United Kingdom, it’s more a question of whether you feel you can afford to be without it. As the above examples show, it can be a real source of financial support – whether to you or your loved ones – should the worst happen to you during the course of your work and you are left without income, whether for a few weeks, a year, or permanently. It’s especially worth considering now as the cost of living soars. Can you afford, for instance, your energy bills if you are without pay for even just a couple of months?


How can I get a quote?

Personal accident cover is available as part of Kingsbridge’s contractor insurance package. The package also includes professional indemnity insurance, public liability cover, employers’ liability cover and directors’ and officers’ liability insurance, giving you a suite of essential insurance for contractors in just one purchase. You can contact our fantastic team or get a quote online.

What’s more, the Kingsbridge Price Promise* means that we are so confident that we offer the best value contractor insurance package out there that we’ll beat any like for like quote. This means that if you find an equivalent policy for less with another UK insurer, we will look at not just matching it, but beating it. You can find more information on our Price Promise – including full terms and conditions – here*.

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