A blue-collar workers guide to understanding Personal Accident and Illness insurance

Whether you’re a sparky, a gardener or working in the transport biz for a crust, it’s no secret that you put in the hard yards day after day to get the job done. It’s a profession that requires good physical health and wellbeing, especially when you’re the one running the show. 

As a small business owner, chances are you have some sort of business insurance already in place. While you may have coverages for things like Public Liability and your tools sorted, have you considered protecting yourself with Personal Accident and Illness insurance*? 

Let’s have a look at how this type of insurance could provide protection when you may need it most when unwanted challenges impact your working life. 

What is Personal Accident and Illness insurance? 

Personal Accident and Illness insurance can provide a weekly income benefit following an accidental injury or illness once signed off from work by a medical practitioner for a set amount of time. 

What is typically covered

Personal Accident and Illness insurance can provide cover options for: 

  • loss of income if you are unable to work due to illness or injury
  • benefits, ifcertain specified permanentinjury causes disability 
  • benefits,dueto  death caused by an injury 

What is typically not covered: 

  • an injury or illness that is the result of:  
  • pre-existing conditions  
  • pregnancy and childbirth   
  • an act which is intentional, criminal or caused by you.  
  • alcohol or drugs  
  • professional sports  
  • motor sports

Why might I need Personal Accident and Illness insurance? 

As much responsibility and care you may take when working a job, the reality is, unforeseen incidents can occur in the blink of an eye. Falling ill, inuring yourself at work or even while playing some footy in the backyard can quickly put you out of action – and out of an opportunity to earn an income, something no small business owner wants to deal with.  

If you were to become ill or suffer an injury, the last thing you want to be worrying about is your finances. It’s time that should be spent focusing on your recovery, getting better and ready to get back into the daily grind of running your business.  

These are some things to think about when looking at how Personal Accident and Illness insurance can support your business: 

  • Provides peace of mind that while you are off work recovering, some form of income will be coming in to keep your finances going 
  • Not having to worry about to pay for things like bills, staff wages as well as domestic expenses like utilities and food 
  • Helps to protect the longevity of your business, by not having to dip into your savings to help cover costs when you can’t work 
  • Protects you even if your injury occurs outside of a worksite, so if you were to come a cropper off your ladder while doing some DIY around the house, your policy could still provide protection

When Personal Accident and Illness insurance could help 

These are some scenarios to consider where Personal Accident and Illness insurance could help to safeguard your business.  

  • Starting your new business as self-employed – this is an exciting time of your professional career, with lots to plan and think about. Because you are just starting out, you may not have the financial history and statements that are often required by life income protection applications.
    Personal Accident and Illness insurance products will typically not require these details, making them an easier alternative for blue-collar workers.  
  • Not covered by Workers Compensation – when you are not covered by Workers Compensation, you may need to consider having another form of protection in place. It may also be a requirement by job sites that you have some form of insurance in place. Personal Accident and Illness insurance could help by meeting both business and potential legal requirements. 
  • Keep your business running – on top of everything else you need to think about, having a backup plan for when things don’t go to plan is going to give you peace of mind. Having some form of income to help cover your expenses while you are  on the road to recovery is a wise move. This backup income could help assist with things like hiring someone to help with running your business while you are off, paying wages and keeping the cogs in your business turning.

Get a quote

If you’ve been thinking about taking out Personal Accident and Illness insuranceget a quote in minutes with BizCover. We believe in keeping things drama free, so jump online or give us a call to see how you can start protecting your business today. We don’t like big fancy words and forms, just insurance made easy. Find out more about Personal Accident and Illness insurance and other business insurance options for your business today.

This information is a general guide only and does not take into account your objectives, financial situation or needs. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.

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