Personal Accident Insurance

Do I need Personal Accident cover?

Say you suffer a severe, accidental injury, the potential need for costly rehabilitation or the risk of losing your livelihood becomes a reality. That’s why, whilst personal accident cover isn’t legally required and does involve an additional expense, many people would argue that you can’t put a price on the peace of mind this insurance provides.

Is Personal Accident Insurance worth it?

Only you can truly decide whether having personal accident cover is worthwhile for you. If you’re willing to pay a personal accident insurance premium and get your hands on a policy, you're actively trying to lessen the financial burdens, such as medical expenses, that come with accidental injuries, allowing you to focus on recovering.

If having that peace of mind that you’re covered and have financial protection is important to you, then we’d have to say that personal accident insurance is worth it.

What is covered under Personal Accident Insurance?

So what’s actually covered under personal accident cover? It’s important to remember that every insurer is different and has their own terms and conditions to consider, but here’s what you’re generally covered for under a personal accident insurance policy:

• When a workplace injury or accident occurs
• Harm inflicted due to someone's violent actions
• Permanent or complete disability due to an accident
• Traffic incidents on the road
• Injuries stemming from slips, trips, or falls
• The loss of body parts or the loss of their full function

Some insurers will be more flexible than others in terms of what they will allow claims for, and that’s why it’s important that you check the terms in policy documents before you buy a policy. For instance, some insurer's won't allow claims for self-inflicted injuries, and it would be worth knowing that before you try to make a claim.

Or, you can get in touch with us. Our specialist teams can support you whilst you navigate various policies across a wide range of insurers before helping you find personal accident cover that you’re happy with.

How much is Personal Accident Insurance?

It’s hard to say exactly how much your personal accident insurance comprehensive cover will cost, mainly because of how different and unique every potential policyholder is. Varying personal factors and insurer terms make it difficult for us to estimate how much you’ll need to pay.

However, we can let you know some of the things that will influence the cost of your personal accident insurance. This includes:

Coverage Amount: The level of coverage you choose, including the benefit amount for different types of injuries or accidents, significantly influences the premium.

Policy Type: The type of personal accident cover you select can impact the cost.

Age and Health: Your age and current health status can affect the premium.

Occupation: Some policies consider the nature of your job and associated risks, potentially resulting in higher premiums for individuals in high-risk occupations.

Lifestyle and Activities: If you engage in high-risk activities or hobbies, such as extreme sports, it can impact the cost of insurance.

Smoking Habits: If you smoke, you may face higher premiums due to the associated health risks.

Deductible: Opting for a higher deductible can lead to lower premiums.

Add-Ons: If you choose to include additional coverage to your personal accident policy, it will increase the premium.

Location: Your geographic location within the UK can influence insurance rates.

To find out exactly what you could expect to pay for a personal accident insurance policy, we recommend that you contact an insurance professional or broker, such as Howden.

We will compare quotes from multiple insurers, once we’ve considered your individual circumstances, and help you get your hands on a personalised premium based on your specific requirements.

Is Personal Accident Insurance a taxable benefit?

Whilst certain types of business insurance such as professional indemnity, public liability, and employers' liability insurance are eligible for tax deductions, personal accident insurance on the other hand doesn't qualify for tax deductions since it doesn't fall under the category of a business expense.

What is Voluntary Personal Accident Insurance?

Voluntary personal accident cover can be best described as a policy supplement that an employer extends to their workforce. How this works is that employees are provided with accident-related benefits by their employer, but the associated costs of compensating for unexpected illnesses or injuries are covered through deductions from the employees' pay checks.

Do I need Personal Accident Insurance when renting a car?

In the UK, personal accident cover is typically considered optional when renting a car. If you feel that additional coverage is necessary, you can purchase a policy from the car rental agency, but be sure to read the terms and conditions carefully to understand what’s covered and what’s not.

Ultimately, the decision to obtain personal accident insurance when renting a car in the UK is a personal one based on your unique insurance needs and risk tolerance.

Can you have more than one Personal Accident Insurance policy?

Yes, you can absolutely buy multiple personal accident policies. If the incident's nature aligns with the terms of coverage in each policy, the policyholder is entitled to make claims on all individual accident policies.

The possession of multiple personal accident policies offers advantages by adding layers of protection. However, it's essential that you’re aware that making claims on multiple personal accident policies within a single year can lead to an increase in the policy's premium when it comes time for renewal.

What is Personal Accident cover in Car Insurance?

When taking out a car insurance policy, personal accident coverage may come as a built-in, or it might be offered as an add-on option. Simply, this coverage provides financial stability compensation in the unfortunate event that you suffer from a serious injury or death in a car accident, and you’re unable to pursue compensation from a third party.