Do I need personal accident cover as a contractor?
When you consider the insurances you need as a contractor, you’ll naturally leap to professional indemnity and public liability, but may not give much thought to occupational personal accident cover. However, it’s an insurance product that has helped many contractors in times of need and has prevented them from falling into dire straits.
In relation to contractors, occupational personal accident cover protects you if you should be injured as a result of an occupational accident, or while commuting to work, and find yourself unable to work. If you were an employee, your employer would look after you in this situation, but as a contractor, you could potentially lose your current contract and any future work, depending on how long your recovery takes.
What is and isn’t covered with occupational personal accident insurance for contractors?
Occupational personal accident cover will vary depending on the provider but, as an example, Kingsbridge covers you with a weekly benefit of up to £500 for a maximum of 52 weeks, as well as personal accident death or disablement cover of up to £100,000, payable as a lump sum. You are covered whether the injury happens in your home office, commuting to work, or at work, either in the UK or abroad.
It’s worth noting that the insurance typically does not include accidents that were not a result of an incident at work, and it also does not cover sickness.
Example occupational personal accident cover claims
It’s always good to get an idea of example claims when you’re trying to understand whether a particular type of cover is right for you. So what are some examples of occupational personal accident cover for contractors ‘in action’?
Jane is a film and TV make up artist. She has a fall on a set she is working on and breaks her arm, subsequently requiring multiple operations and leaving her unable to work for a year until she regains full use of her arm. Her occupational personal accident cover pays her a weekly sum for the full 52 weeks, covering for her loss of income during this time and allowing her to continue to pay her mortgage and bills without any worries.
Tom is an electrical engineer who, sadly, suffers a fatal electrocution while working on a machine for a client. His insurance pays his accidental death benefit directly to his estate in the wake of the tragedy, leaving his loved ones a significant sum to help them during this difficult time.
What do our customers say?
Occupational personal accident cover can really come through for contractors at some of the most difficult times of their lives and make uncertain days, weeks and months a lot easier to navigate. If you suddenly find yourself unable to work, knowing that you have a source of income is a huge relief, and Kingsbridge make claiming very straightforward, as you can see in this customer testimonial:
“I would like to express my sincere gratitude to the way in which James Morris handled my claim both from the start and throughout the entire schedule of payments. After suffering a life-changing accident James was extremely reassuring and very, very prompt in getting the policy to respond. He has made what has been a difficult situation to go through a lot easier and I couldn’t give him enough praise for the level of care and service that he provides on behalf of Kingsbridge. I would recommend Kingsbridge in a heartbeat, and it has been very refreshing to deal with a company who are so straightforward in the way they respond to claims. Once again, my sincere thanks to Kingsbridge and in particular James.”
You can see from this that occupational personal accident cover can be a lifeline when you need it most, taking money worries off the table and allowing you to concentrate on recovery and adapting to life post-injury. When you or your family are dealing with something life-changing, you don’t want to be jumping through hoops or filling in endless paperwork.
You want understanding, straightforward processes and clear answers – all of which Kingsbridge provide.
How do you get occupational personal accident cover?
The really good news is that if you have our comprehensive package policy, it includes personal accident cover as standard. Please note that some policies, such as our trades policy and some lower-level package policies, do not include personal accident cover. In some cases, this can be added for an additional charge. You can check your cover in your policy documents or by contacting us.
And if you’re currently looking for business insurance as a contractor, you can get a full suite of insurance including occupational personal accident cover – giving you complete peace of mind. The Kingsbridge contractor insurance package includes:
- Occupational personal accident cover – Weekly benefit of up to £500, payable for a maximum of 52 weeks
- Personal accident death and disablement cover up to £100,000 (lump sum)
- Professional indemnity – £1 million any one claim (unlimited in the aggregate)
- Public liability – £5 million any one claim (unlimited in the aggregate) . Employers’ liability – £10 million any one claim (unlimited in the aggregate)
- Directors’ and officers’ liability – £100,000 any one claim (and in the aggregate)
Giving you the benefit of being able to tick all of your basic contractor insurance boxes in one fell swoop, Kingsbridge really does offer you the security of lifting some of the financial risks that comes with being self-employed – including the potential loss of income due to accident.