What is personal accident insurance?

Personal accident and injury insurance is designed to protect your business financially if a work accident leaves you responsible for providing compensation pay-outs. If an injury leaves an employee unable to work, personal accident insurance will cover the individual against loss of income.

With this form of accident cover in place, your business can also benefit financial support in the event that key business directors are injured and unable to work. In this way, personal accident insurance is similar to keyman insurance, which is designed to protect businesses from financial loss if a key person is off work for an extended period following illness or injury.

Your business can receive a lump sum or weekly pay-outs to help offset any resulting loss in income, as well as further support towards retraining costs

What is a good example of a personal accident claim?

If, as the business owner, you are worried about how your venture would cope if you were left you hospitalised for a prolonged period of time, personal accident insurance would be a solution to perserving solvency. Likewise, should a partner or director in your businesssustain injuries, keeping them iout of work for several months, personal accident insurance could cover the cost of support.

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How Hiscox Personal Accident Insurance protects your business

Our personal accident insurance policy is designed to protect your business if you, or an insured employee, are killed or injured in an accident. We can also extend your cover to include if an insured person is left unable to work due to illness, or is granted compassionate leave. 
Some of the key aspects of our accident cover include:

  • lump sum payment to the business up to £100,000 if you or an insured employee are injured, left permanently disabled, or killed as the result of an accident within or outside working hours
  • weekly payments whilst you or an insured employee are not able to work because of injuries sustained as the result of an accident.
  • recruitment expenses up to £10,000 – cover the cost of replacing an insured employee who is unable to work following accidental injury
  • retraining budget – we will provide up to £10,000 funding to retrain the affected person for an alternative occupation if they cannot continue their former job
  • funeral expenses – up to £5,000 to cover funeral costs, which would also cover repatriation costs if required

Our policy will not cover:

  • injuries while taking part in hazardous pursuits such as off-piste skiing, potholing or bungee jumping

  • any claims or circumstances which could give rise to a claim which you knew about, or reasonably ought to have known about before the policy started
  • claims resulting from deliberate self-harm, such as drug use or a criminal act.

Get a personal accident quote online

  • Award-winning claims service
  • Immediate coverage and documentation
  • No admin fees if you amend your policy

Need more help? Speak to our UK-based experts. Call us on 0800 2800 351

Mon - Fri, 8am - 7pm, Sat, 9am to 2pm, excluding bank holidays. Calls are free from a landline and some mobile contracts

You may need personal accident insurance if you:

  • are concerned about how your business would survive if a key member of staff was unable to work
  • want to take steps to protect your business income
  • need to continue to meet your business commitments should the worst happen.
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Build one comprehensive insurance plan

With Hiscox Business Insurance you can pick and choose which policies you feel you and your business need, so you’ve got one tailored plan in place. This may include public liability insurance, employers’ liability insurance, professional indemnity insurance, cyber and data risks insurance and personal accident insurance. You may also benefit from things like office insurance, which can include portable equipment cover, if you work with expensive computers or equipment.

Your policy

We want you to understand the personal accident cover we offer.

Get a personal accident quote online

  • Award-winning claims service
  • Immediate coverage and documentation
  • No admin fees if you amend your policy

Need more help? Speak to our UK-based experts. Call us on 0800 2800 351

Mon - Fri, 8am - 7pm, Sat, 9am to 2pm, excluding bank holidays. Calls are free from a landline and some mobile contracts

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