Personal accident cover is designed to protect you against accidents that are not a result of anyone’s actions or fault and therefore cannot be claimed on someone else’s insurance. Whilst an unexpected accident is not a nice thought, it is sensible to be prepared financially for such events - as no one can be 100% certain that one won’t occur. If the worst does happen and you have not taken out personal accident cover, it can make things very difficult financially (e.g. loss of income, unexpected bills and expenses) for you and your family, which can be distressing, particularly when combined with the physical and emotional side of recovery.

 

Personal accident cover will pay out compensation to you and/or your family if you are involved in a serious accident that causes injury or even death. Typically, this type of insurance is included in car insurance and life insurance policies.

 

There are a wide range of injuries and accidents that a personal accident insurance scheme will cover, but exactly what you are covered for will depend on your policy. Usually, incidents that personal accident insurance policies will cover include:

 

• An accident or injury that occurs at work
• Injury or death that is caused by a road traffic accident (with no one to blame)
• An injury caused by slips and spillages
• A loss of (or loss of use of) any body parts

Personal accident insurance can be useful for anyone but is especially worth considering if you are self-employed. If you are self-employed, you don’t reap the benefits of a company insurance policy or work in a particularly risky environment, or you could be in a situation where your finances and/or job mean that you would struggle to make ends meet should you suffer an injury that prevents you from working. Whether or not you take out personal accident insurance is totally up to you, but some people take comfort in knowing that their finances are that bit more protected, should something happen to them.