Personal Injury Insurance - Do you have it?

[Mick Dempsey]

You would say that wouldn’t you!

 

Anyway there are many factors at play, how stretched you are debt wise, children, mortgage etc. 

 

If in in the event of an accident you were able to cover these things with savings, spousal earnings or having employees do the work then it might not be value for money.

 

 

[tree-fancier123]

55 minutes ago, Tree Surgeon Insurance said:

So why would anybody not have it?

Because they don't want to pay the premium. I've always thought if it was me whacked out for a long while any cover would stop paying out after a while and I'd be relying on my savings anyway. Doing manual work I've always been suspicious of how the other half live.

Edited June 29, 2018 by tree-fancier123

[Tree Surgeon Insurance]

Good answer. But why would you insure your TV, tools or pets on that basis.  Also the best type of polices have a maximum claim period to age 65, not just one or two years. You should get a quote!

[eggsarascal]

14 minutes ago, Tree Surgeon Insurance said:

Good answer. But why would you insure your TV, tools or pets on that basis.  Also the best type of polices have a maximum claim period to age 65, not just one or two years. You should get a quote!

You've answered the question, apart from insurance that we have to have car, van, Employers we choose what insurance we take out. I've had two or three dogs for years and never insured them, saved myself a fortune. Like Mick said, if me or the missus went down we could live on just the one wage, but for the sake of £50 odd quid (I'd have to check) a month I chose to have cover.

[tree-fancier123]

insurance has some very smart people - theyll work out how to avoid giving some 30 or 40 year old 15k a year till they reach 65. Microscopic smallprint

[Mr. Squirrel]

I don't, but really need to sort it. I was refused a a policy three years ago as I was fresh back at work after a shoulder op, while off sick I saw a doc regarding stress, and was referred to mental health folk. That plus hobbies were too many risk factors apparently.

However, when I broke my shoulder I ended up being off work for almost a year, I was near financially ruined. Statutory sick pay is worthless, and why would you knowingly put the burden of earning on your partner in the case of anything going wrong? I'm amazed anyone in this industry would say no to it. 

[Matthew Storrs]

I don’t.

i pay the money into machines instead- if something should happen to me I have an asset I can release to tide me over, if something really bad happens, I have assets my loved ones can release! I’m sorry- but I’m a big believer in tangible insurance provided by myself.

[Peasgood]

3 hours ago, Mr. Squirrel said:

why would you knowingly put the burden of earning on your partner in the case of anything going wrong?

Why wouldn't you? It's a partnership isn't it. 

 

Just playing Devil's advocate. I know my missus expects me to carry her and I am pretty confident she'd bugger off if she ended up having to carry me financially and/or emotionally. Physically she'd do her best.

Meanwhile we have been together 20+ years and doing pretty good.

[Snedasawrus]

As someone lying here now with a broken fibula and tibia after an accident. I would thoroughly recommend getting insurance. I did not. Doing a dangerous job like forestry or arb day in day out, rain or shine, you need a plan in place. One day your brain farts and the near misses everyone has had, could become something alot worse. The thought of 2+ months with no income is not a nice feeling trust me.

[Mick Dempsey]

I suppose if you average it to 70 quid a month I’ve saved nearly 20000 pounds over the last 23 years by not having it.