Personal injury insurance?

sparkiemalarkie

Hello, my son has recently started a job in construction. Last week a member of the team fell from a ladder and broke his leg meaning that he can't work for many weeks.


It started me thinking about insurance to cover this type of incident.... is there such a thing? Of so what's it called and is it worth getting?


many thanks


sparkie

InsideInsurance

So you want a policy that pays his income whilst he is off sick or a lump sum or ?

Assuming you are talking about income then it comes in two flavours. The first is the full fat version called Permanent Health Insurance, its underwritten at point of sale so gives more security and continues to pay out whilst your ill/ injured up until your 65th birthday

The budget version is Accident Sickness & Unemployment (ASU) and this isnt underwritten until you need to claim plus normally pays out for only 12 months. If you are ill for longer, bad luck.

To confuse matters both are often called income protection now but PHI is almost exclusively sold via IFAs and advisory Brokers and so almost anyone doing quotes online are selling you ASU

For lump sums there is also Personal Accident, it isnt often sold as a standalone policy to private individuals but often is encapsulated in other policies (most comp Motor has a PA section). To get payout however you are normally more talking about losing your leg not just breaking it though.

sparkiemalarkie

Thank you.

Knowing the terminology is definitely a great help.
I will have a browse on the internet to see what I can find.


Thanks for the help


sparkie

dacouch

Accident Sickness & Unemployment tends to have a lot of restrictions on accidents.

The main one to look out for is that the cheaper policies say to the effect that they pay out if your incapacity prevents you doing any work eg if you're a builder they may say you're still fit enough to get an officer work. The better policies basically say your incapacity prevents you doing your normal work so if your a builder it pays out if you're unfit to work as a builder

Cap_Hero

Builders can buy specific builders insurance. This might come under the general umbrella of trade-persons insurance but you could start your search for insurance online.

I have used JustQuoteMe for public liability cover but they will insure for trades etc too and you can get a quote online. They are at https://justquoteme.co.uk/

I have found them better that some more well known portals as they do provide a personal service because you can talk to them!

Hope this helps and good luck with your search.

dacouch

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