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Whilst there are many advantages of being self-employed, being your own boss does come with some disadvantages too, such as the lack of employer-provided insurance benefits such as personal accident insurance. 

When you're self-employed, your income depends entirely on your ability to work, so good health is important as an accident can put you out of commission for days, weeks or even longer. That’s why many self-employed business owners and freelancers purchase personal accident insurance, as it provides a safety-net to give peace of mind and financial protection if required. 

A few years ago, a tradesman that some of the people here at Prizm know (but unfortunately didn’t insure at that time) had a cycling accident. He hit a tree, but the tree won and smashed his arm so badly that he was unable to work for a whole year. He thought he was covered under another insurance policy, but it turned out that didn’t cover him for a personal accident! As a result, he lost a year’s worth of income due to not being able to go out and earn money offering his usual services. 

He's now insured by Prizm, so has peace of mind that, should anything similar happen again (but hopefully it won’t!), he’d be covered. 

Do you have a safety-net in place for if you can’t work due to an accident? 

If not, and your income is reliant on you, please let’s have a no-obligation chat. We can look at what you’re already covered for, and see if there are any insurance gaps that need filling to cover you against anything unexpected occurring. After all, you really don’t want the stress of trying to get better whilst still trying to pay the mortgage and keep your business running all at the same time. Especially as personal accident insurance is not that expensive overall.  

At Prizm Solutions, we're here to help with all your insurance needs, from legal expenses insurance to public liability insurance.  Just contact us to review your current cover.