Personal accident insurance, or personal injury insurance, pays out a lump sum to you or your family if you suffer from a serious injury or death as the result of an accident. The money can protect you against loss of income if you’re recovering and out of work, or it can give your family financial security if you’re no longer there to provide for them.
How does personal accident insurance work?
Like most insurance policies, you pay a monthly premium to your insurance provider and if you make a claim, your beneficiaries will either be paid a lump sum or monthly payments to supplement missed income.
What personal accidents are covered?
Most policies will cover you against the following accidents and injuries:
An accident or injury at work
Injury caused by violence
Total and permanent loss of (or loss of use of) limbs
Total and permanent disability
Injury or death caused by a road traffic incident
Death
What personal accidents are not covered?
Common exclusions include:
Self-inflicted injuries
Dental injuries
Injuries that occur while under the influence
Accidents that occur due to a pre-existing illness
Personal accident insurance policies also won’t cover you for other reasons you’re unable to work such as sickness or mental health as these will normally be covered by health insurance policies.
Do I need personal accident insurance?
Whilst personal accident insurance isn’t a necessity, you might want to consider taking out a policy if you work in an environment where serious accidents are likely to occur. Also, if you’re self-employed, personal accident insurance would cover you against loss of earnings if you’re unable to work as a result of a serious accident or injury.
Compare personal accident insurance providers
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General & Medical allows you to upgrade your policy to include cover for up to two pre-existing conditions from their list of pre-defined conditions.
*This quote is for a comprehensive policy with full outpatient cover, full cancer cover and London hospital access. **This shows how many different levels of cover you can choose from. ***This shows whether the provider includes cancer cover as standard on all health insurance policies. ****This shows how many different levels of cover you can choose from.
