Personal Accident insurance

Frequently Asked Questions

Do I need Personal Accident cover?

No matter your trade, you’re likely to be engaging in activity or using equipment that could cause a serious injury. To cover yourself for unexpected accidents and ensure your medical expenses and income while you recover, Personal Accident cover is an essential cover to consider as part of your insurance package.

Is Personal Accident different from Worker’s Compensation in Australia?

Yes. Workers Compensation policies are typically provided by employers for on-the-job activities only. A Personal Accident insurance policy will cover you both in and outside of work.

Is Personal Accident Insurance the same as Personal Injury or Personal Illness Insurance in Australia?

Personal Accident Insurance, Personal Injury Insurance, and Personal Illness Insurance are often used interchangeably by different insurers, but they refer to the same type of coverage.

Some policies might include an option for Personal Illness Insurance, which provides coverage for illnesses that prevent the insured person from working and thereby protects against loss of income due to sickness.

It’s important to note that terminology can vary between insurers, so you might hear different names for similar products. Always check the specific details of your policy to understand what is covered.

What insurance do I as a contractor need for accident and sickness insurance?

If you are a contractor in Australia, it’s essential to consider Personal Accident Insurance or Accident and Sickness Insurance (also known as Accident and Illness Insurance). These insurance options are designed to cover loss of income if you are unable to work due to accidental injury or sickness.

Unlike permanent employees, contractors often lack the same level of income protection. That’s why Personal Accident Insurance or Accident and Sickness Insurance can be crucial for you. It’s important to understand that these options may differ slightly and vary in their inclusions from policy to policy.

Our team is here to help you navigate the right options for your specific needs, including the associated coverage and costs. Request a quote or get in touch with us today to learn more.

What happens if I gain a permanent disability from an accident that happens while I have Personal Accident Insurance?

In the case of a permanent disability resulting from an accident, Personal Accident Insurance policies typically provide a lump-sum payment to the insured. This payment is intended to help cover immediate and long-term financial needs arising from the disability, such as medical expenses, rehabilitation costs, and adjustments needed for lifestyle changes.

In some cases, a weekly benefit may be paid for a ‘benefit period’, which is determined by the circumstances of the accident, disability, and the conditions of your coverage.

Is there a weekly benefit for Personal Accident insurance claims?

Personal Accident insurance policies often include a provision for weekly benefits, which is designed to partially replace the income of the insured during the period they are unable to work due to an injury. The specific amount and duration of these weekly benefit payments — where a weekly benefit does actually apply — can vary between policies and insurers.

How long does it take to receive Personal Accident insurance?

Your Personal Accident insurance period of cover can usually commence shortly after you have submitted the required application documentation and information. At Tradesure, we help you get everything sorted, so your insurance claim can get underway as soon as possible for your peace of mind.

How long does it take to receive personal accident insurance payments if a claim needs to be made?

The time frame for receiving payments after a claim has been submitted can vary, and will also usually include a waiting period. The waiting period is the period of time following an accident that you will have to wait before receiving a claim payment.

How much will I be able to cover for personal accident insurance?

The coverage limit for Personal Accident Insurance is determined by your policy’s terms and the insured’s selections. Longer coverage limits can attract a higher insurance premium. When you speak to us at Tradesure, we’ll chat about the coverage you would like, any considerations, and present you with the right insurance options for your coverage situation.

How long will I receive Personal Accident cover for?

This varies depending on your insurer and your Personal Accident insurance coverage policy, but it will be listed on your insurance policy.

Your insurance policy will state the length of time that you are insured for, after which time you will need to renew your insurance or take out another insurance policy in order to remain covered. However, if an incident occurs during your insured period, a benefit period will state how long you may receive benefit payments for following any injury you may receive.

Is there an excess period for Personal Accident Insurance?

Yes. The excess period is the period after an accident or illness that must pass before the insured is entitled to any payments. The excess period can vary depending on the insurer and policy. Talk with our team at Tradesure to find the right insurance for your needs.

Can I pay in instalments for my Personal Accident Insurance with Tradesure?

Yes. We have flexible payment options in place, allowing you to spread the cost of your insurance over several payments rather than paying in a lump sum. This helps you manage your cash flow and maintain your cover.