3 Facts you need to know about Personal Accident and Illness Insurance

Personal Accident and Illness Insurance might not be the first type of insurance you think of getting for your trade business, however it should definitely not be the last. As a tradesperson, your job involves a certain amount of risk. Other insurances will cover your business if someone else makes a claim against you, if your tools go missing, if your property gets damaged, and even if your workers are injured or sick as a result of the job, but what will cover you?

Fact 1 – It covers you when the others don’t

Personal Accident and Illness Insurance steps in where the others finish. If you become sick or hurt yourself on the job this type of insurance will protect you financially by ensuring that you still receive a portion of your income so you can maintain your lifestyle, pay the bills, and support and your family.

Fact 2 – Choose your cover

Many tradies need specific types of insurances to cover their business. Personal Accident and Illness is the one that you can have the most flexibility with as you can choose the level of cover you require. You will generally be able to:

• Cover yourself up to 85% of your income
• Customise the policy to suit the trade you perform and your daily lifestyle
• Choose your benefit periods
• Potentially choose optional extras in the policy such as cover outside of work

When deciding on the quote you can consider:

• What is your lifestyle like? For example groceries
• How big are your bills daily and monthly? Such as rent, repayments or utilities
• Do you need to support anyone else with your income?

A combination of these elements as well as the risks involved with your trade will help your insurance broker determine the best possible cover at the more competitive price for you.

Fact 3 – It’s not that expensive

Although you will have to meet the payments of the insurance monthly, you can actually claim the premium for the Personal Accident and Illness Insurance on your tax return. This means it doesn’t work out so bad after all! You will receive the peace of mind you need to keep doing your job, without worrying about what could happen if you take a fall or become sick from substances you use every day.

Contact All Trades Cover today at www.alltradescover.com.au for more information regarding your Personal Accident and Illness Insurance. We deal with the risks that tradies face every single day and have working with thousands across Australia. Try out easy online quoting system or speak to a real person today on 1300 826 850. All information provided above is of a general nature, if you need specific advice we recommend speaking to a broker.