What is Personal Accident Cover?
What if I get injured at work and can’t do my job? That’s a question every freelancer, limited company contractor, or sole trader needs to consider carefully. Being self-employed means no sick pay if you’re forced to take time off. That’s why personal accident insurance from Kingsbridge exists. It’s a simple, inexpensive solution to a significant financial problem, ensuring that you can still pay bills if you’re unable to work.
Personal accident insurance is also known as occupational accident insurance. It’s a policy that pays you a weekly benefit if you can’t earn a living because of an injury sustained while doing your job or travelling to and from work. If you are left permanently unable to work or die, the policy pays a lump sum. The policy also includes a proportional lump sum for any permanent partial disability.
Why is Personal Accident Cover important for self-employed contractors?
Employees are taken care of by their employer in the event of a work-related accident. In contrast, self-employed contractors and trade professionals have no employer, so that safety net doesn’t exist. As such, you may lose your current contract and future earnings if unable to work.
That’s why it’s sensible to expect the unexpected and protect yourself from the risk of suddenly having no income. Personal accident cover is vital if you work for yourself. Think of the peace of mind: knowing you’ll continue to have a regular income if something disastrous happens.
What does Personal Accident Insurance cover?
If you experience a loss of earnings following an accident at work, the policy will pay out until you are well enough to return to your job—for a maximum of 52 weeks.
If an occupational accident leaves you permanently unable to work, you could receive a lump sum payment. Likewise, if you die because of an occupational accident, a lump sum payment is paid to your estate.
It matters where the accident takes place. Kingsbridge’s personal accident insurance policy includes cover for accidents and injuries that happen during:
- Your journey to and from work
- Working at a client’s premises
- Working from your home, office, or workplace
How much can Personal Accident Cover payout?
Kingsbridge policies will pay up to £500 a week for 52 weeks. Imagine the relief, knowing there’s no need to worry about unpaid bills, rent, or mortgage while recovering from a serious accident. You can also claim a lump sum of up to £100,000 if your injury leaves you permanently unable to work. This money could prove very useful if you have medical bills to pay or need to retrain for a different job.
If the very worst should happen, your loved ones can claim a £100,000 lump sum payment to your estate in the event of your death.
Why choose Kingsbridge?
- We are specialist insurers of trade professionals, contractors, freelancers, and sole traders
- Occupational personal accident insurance is part of our core contractor’s insurance package along with, professional indemnity, public liability and employers’ liability and directors’ and officers’ cover
- Kingsbridge offer a price promise – if you find cheaper cover elsewhere we’ll beat the quote*
- All Kingsbridge policies are underwritten by A-rated insurers
- No hidden fees or charges
How to purchase a Kingsbridge self-employed personal accident policy
Frequently asked questions
Is Personal Accident Cover mandatory for contractors?
No, you are not obliged by law to have personal accident insurance. The question is: can you afford not to work for an extended period following a work-related accident?
How much does Personal Accident Cover cost?
Personal accident insurance is included within our contractors’ insurance package at Kingsbridge, meaning you benefit from multiple protection, all packaged in one policy. Get an instant quote online or contact our team on 01242 808740.
What is the difference between Personal Accident Insurance and Income Protection Insurance?
Personal accident cover is there to protect you in the event of an injury caused by a work-related accident. Income protection insurance is more general, covering illness, loss of employment, and injury.
Can you provide any examples of personal accident cover claims?
Yes, here are two cases:
- A commissioning engineer fell at work, suffering a broken arm. As a result, they had several operations and a year away from work. Occupational personal accident insurance paid a weekly sum for the full 52 weeks permitted by the policy.
- An electrical engineering contractor was fatally electrocuted while installing a machine. In turn, the insurers paid an accidental death benefit specified by the policy to their estate.