While none of us would wish it, accidents do happen all the time, and sometimes we are unfortunate enough to get caught up in the middle of it all. At times like these, it is important that you have the cover you need to be able to provide adequate compensation for any injuries or even deaths caused. Sometimes accidents can occur that result in an individual or an individual’s family being placed under financial duress, so personal injury cover and various other types of insurance work to help reduce these financial issues.

What is Personal Injury Cover?

Personal Injury Cover is a type of insurance that comes bundled in with other types of insurance, or on its own as a set cover package. Personal Injury Cover can come with car insurance or a business policy and will cover a number of accidents or injuries relating to that specific type of insurance (for example, only motoring accidents for car insurance cover). By choosing a separate personal injury cover plan, you cover yourself in a wide range of situations not normally covered by car or business insurance.

Although personal injury cover is the most widely used form of cover, there are a number of alternatives you can use in the event of a sudden accident or injury that was not your fault. Not everyone has the foresight to invest in personal injury cover, so you may need to choose an alternative form of insurance in extreme circumstances.

Alternatives

Legal Action –

You can choose to take legal action individually if your illness or injury was the result of an accident that wasn’t your fault, however it would have to be out of your own pocket. The price of the process depends on the amount of legal aid you have and which court you choose to go through. You should also enlist the help of a professional solicitor to determine the strength of your claim, but this is the most expensive option.

Unions –

You might be a member of a trade union or some other form of union, whereby legal aid can be provided for free or at a reduced cost. This is a preferred method as it means you do not have to rely on your own savings to pay for the legal costs and you will be eligible for professional legal assistance from the union. However, the union may instruct solicitors to take legal action on your behalf, so you will not be able to choose the solicitor acting on your behalf, so it can be a double edged sword.

No Win, No Fee’ –

This is normally used for those struggling to gain access to the legal system on a financial level. This policy simply means that you will not have to pay your solicitor if you lose the claim, however you are still subject to fees from the successful party, including court costs.

Income Protection –

Formerly known as Permanent Health Insurance or PHI, Income Protection is an insurance policy that pays out in the event of an illness or injury suffered. The pay-out lasts until retirement, death or your return to work and is designed to provide financial security during this time. The pay-outs are based on your earnings and normally cover around 50-70% of your earnings.

In many of these instances you should be able to find professional legal representation at a price, who will be able to provide you with all the essential advice and assistance you need in making a successful claim. However it is highly recommended that you invest in personal injury cover where possible, as this will cover you for a wide range of incidents and also provides some security for family members in the event of a sudden death. Preparation for the future, even a bleak future, is essential, particularly if you have small children or you have plans to start a family soon.

Article provided by www.georgeide.co.uk, personal injury solicitors firm operating in Chichester since 1966.