How To Compare Personal Accident Insurance Quotes

personal-accident-compareNot sure how to compare personal accident insurance quotes? Follow these tips to find the right cover.

What should I look at when I compare quotes?

Some of the things that you should look at when you are comparing personal accident insurance plans include:

  • The cost of the cover: Budget is important to most people in the current financial climate, so it is important to compare the cost of personal accident insurance cover, as you need to ensure that the premiums fit in with your budget
  • The level of coverage: You need to make sure that the level of coverage you get with your personal accident insurance plan is going to be adequate for your needs. You should therefore compare the level of coverage that you get with the various plans that you are considering
  • What you are covered for: You should check the features of the plan carefully so that you know exactly what you are covered for, as this way you can make a more informed decision with regards to which provider and plan you choose
  • Any exclusions and restrictions: Most insurance plans come with a range of restrictions and exclusions, so make sure you check the small print to see exactly what you are and are not covered for

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Compare personal accident insurance with these direct brands

Details Features
Income Protection
Income Protection
Cover up to 85% of your income up to $10,000 per month if you can't work due to sickness or injury. Cover for over 1,000 jobs and full-time, part-time and self-employed.
  • Monthly benefit up to $10,000
  • Cover for applicants up to age 60
  • 30 day cooling-off period
Go to site More info
Income Protection
Income Protection
Receive up to 75% of your income each month to a maximum of $25,000 if you can't work due to serious illness or injury.
  • Monthly benefit up to $25,000
  • Available for applicants up to 59 years old
  • 30 day cooling off period
Go to site More info
Income Protection
Income Protection
Receive up to 75% of you income (up to $10,000 per month) of your income if you're unable to work due to serious illness or injury.
  • Up to $10,000 monthly income replacement
  • Choice of benefit period of 1, 2 or 5 years
  • Involuntary Unemployment Cover up to 3 months
Go to site More info

Why is personal accident insurance important?

While most of us hope that we will sail through life without any serious health issues, there are some things that are unavoidable and can have a serious negative impact on our health no matter how healthily we try and live our lives. While there are measures that we can take to protect ourselves against certain health issues, such as a healthy diet to reduce the risk of various diet and weight related health issues, one thing that we have little control over is accidents, which can occur anywhere and at any time.

Personal accident insurance is one type of insurance cover that can help to limit the financial impact of accidents and can therefore prove invaluable if you want to benefit from peace of mind.

Why should I compare policies... don't they all offer the same thing?

If you are thinking of taking out personal accident insurance cover you need to take a number of factors into consideration that can change with each policy. This includes:

  • Maximum sums insured. Different policies will have different sums you can insure to suit your personal needs.
  • Features and extras. Some policies may include an option to include sickness benefits or an extra hospital cash payment that suits your needs.
  • Pay-out structure. Some policies may pay you ongoing income replacement, whilst others will pay out a lump some.
  • The price of cover There are a number of providers that offer personal accident insurance cover, so it is important to make sure you shop around to try and get the right cover and the most competitive prices.

What is the benefit of comparing policies online?

When it comes to comparing personal accident insurance quotes, the easiest method is to use the internet, as you will find a wide range of providers and a great variety of plans online. This will help to make it easier to find a suitable plan at the right price. You will be able to benefit in many different ways when you go online to get your personal accident insurance quotes. Some of the benefits you will be able to look forward to include:

  • The convenience and ease of being able to browse and compare personal accident insurance quotes from the comfort and privacy of your own home
  • Access to a huge range of providers and personal accident insurance plans, boosting your chances of finding the right plan at an affordable price
  • Some great deals on personal accident insurance cover, enabling you to get a competitive price on your cover
  • The ability to look for cover at a time that suits you and without the need to deal with pushy sales staff
  • Being able to compare a wide range of quotes with the click of a button, which saves you a lot of time and hassle

Should I get personal accident cover, income protection or life insurance?

This will come down to personal preference. Life Insurance is provides the greatest amount of cover that can include the same benefits as personal accident and income protection.

The differencesPersonal accident insuranceIncome protection insuranceLife insurance
What am I covered for?You covered when you suffer an injury that forces you out of work.You are covered if you suffer an injury or illness that forces you out of work.Life insurance provides income protection in the even of illness and sickness. Your family is also provided with on going payments if you are to pass away.
How long am I paid out for?Most policies can replace your income for a period of up to two or five yearsIncome protection usually offers income replacement until you reach the age of retirement or until 65 years.Life insurance usually offers income replacement until you reach the age of retirement or until 65 years.
Is there medical screening?You won’t have to answer any health questions or undergo any medical tests to take out coverMost policies will require you to undergo a medical examination when you taker out cover.Most policies will require you to undergo a medical examination when you take out cover.
Premium costsPersonal accident premiums are usually lowerIncome protection insurance is usually more expensive than personal accident cover.Life insurance generally costs the most as it includes the most amount of cover.
Is it tax deductible?Yes, if bought for protection against loss of incomeYesYes, if the life insurance is bought through super and the policy holder is self employed.

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William Eve

Will is a personal finance writer for finder.com.au specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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