Do you have Personal accident cover? Just for those self employed.

[HappyHippyDad]

Afternoon all...

Just reading through Professional Electrician and got to the article about the self employed chap with the broken wrist.

This poll is just for those self employed as if you're employed you can probably get sick pay.

I'm considering getting this insurance and wondered how many others have it and generally what people think about it?

Has anyone actually made a claim?

Cheers

 

[123]

I have some accident cover as part of my Public Liability & Professional Indemnity Insurance.

Also have have Life, Critical Illness and Income Protection insurance aside from that.

 

[Deleted member 26818]

I often get offered personal injury cover by agencies.
You have to be off work for 6 weeks before you can start to claim anything.

 

[tomspark93]

I’ve got personal injury and income protection

 

[HandySparks]

I don't have personal accident cover (or critical illness or income protection). One alternative is to 'insure yourself'. Set aside the amount you would have paid in insurance premiums, possibly in a separate account. Overall, the insurers have to make a profit after paying out claims. Obviously, if you have an accident tomorrow, it's not such a good plan, but in the long term you're likely to be better off.

 

[123]

I don't have personal accident cover (or critical illness or income protection). One alternative is to 'insure yourself'. Set aside the amount you would have paid in insurance premiums, possibly in a separate account. Overall, the insurers have to make a profit after paying out claims. Obviously, if you have an accident tomorrow, it's not such a good plan, but in the long term you're likely to be better off.

Life and Critical Illness we never want to make a claim on but myself and wife have it. Mother in Law didn't have either - had a heart attack 3 years ago. Instead of a large payout, she got nothing. And can't work anymore. After a long fight she is getting DLA (or whatever the new name for it is).

Once you go beyond Life insurance it gets a bit expensive, but it gives some peace of mind.

I've Van Insurance - never made a claim. Public Liability, Professional Indemnity, Life, Accident Cover, Tool Cover, Employers Insurance, Income Protection, Critical Illness. Yet to make a claim on any, but it is some peace of mind that I'm insured on it.

 

[HandySparks]

Life and Critical Illness we never want to make a claim on but myself and wife have it. Mother in Law didn't have either - had a heart attack 3 years ago. Instead of a large payout, she got nothing. And can't work anymore. After a long fight she is getting DLA (or whatever the new name for it is).

Once you go beyond Life insurance it gets a bit expensive, but it gives some peace of mind.

I've Van Insurance - never made a claim. Public Liability, Professional Indemnity, Life, Accident Cover, Tool Cover, Employers Insurance, Income Protection, Critical Illness. Yet to make a claim on any, but it is some peace of mind that I'm insured on it.

I agree that it's a personal decision. I do, for example, have buildings and contents cover. It's reasonably priced and covers the event of the house burning to the ground. I don't, however, add accidental cover for contents, as I don't regard it as good value.

 

[HappyHippyDad]

Some interesting replies.

I guess part of it is your attitude to risk. If you don't mind taking risks then don't get the insurance, if you are uncomfortable with risk then get the insurance as you are paying for peace of mind.

I'll have a think. Doubt i'll get it though.

 

[robd]

Am off at the moment and rang to see if I could make a claim-my liability has built in accident cover or added on I should say. Anyway I can't as it is an illness (hernia opp) so had a look today at some policies for illness in future. Jury is out on value for money so far.

 

[Marvo]

It's often much cheaper to find a policy that includes several insurance policies wrapped up into one. One of my business policies includes personal accident cover for incidents at home or at work but as Spin mentioned you can only start claiming after 3 weeks off work on my particular policy. It also only pays out 80% of your average income taken over the last 12 months so it would be enough to stop you ending up in big debt but you'd still suffer some financial loss. Touch wood I haven't needed it yet.