Your team’s safety net. Your business’s financial shield.

Why Personal Accident Insurance is Important

Imagine working on a job site or traveling between clients, when an unexpected accident sidelines you for months. Without insurance, your active income can drop to zero, whilst your mortgage, household bills, and business overheads continue piling up.

This is why it’s essential to protect your working income against a sudden injury or illness.

Personal accident insurance is a dedicated insurance policy dedicated to pay a continuous weekly benefit if an injury or illness leaves you temporarily unable to work. Unlike employees covered by compulsory schemes, self-employed business owners are often left exposed if an injury occurs. Therefore it is essential for sole traders, self-employed contractors, and small to medium enterprise (SMEs) owners who cannot rely on traditional workers’ compensation if they get hurt on or off the job.

At CIG, we do the heavy lifting for you and find a personal accident insurance policy that steps in with reliable income replacement. We don’t let a physical setback turn into a financial crisis.

What Is Personal Accident Insurance?

Personal accident insurance protects your income by replacing the majority of your weekly earnings if a sudden injury leaves you unable to work. It provides crucial financial support for sole traders, contractors, and business owners without workers’ compensation, offering 24/7 coverage at work, home, or while traveling. Most insurers allow you to cover up to 85% of your regular pre-tax earnings.

The coverage centers around three primary payout structures:

Weekly Income Replacement:
- A core weekly benefit to maintain continuous cash flow during temporary recovery.
Optional Sick Pay:
- Expands your policy to cover time off work caused by serious illness, not just physical accidents.
One-Off Cash Payouts:
- Provides a single, large payout if an accident results in a permanent disability or loss of life.

One unexpected accident shouldn’t threaten your financial position. Get comprehensive income replacement coverage that safeguards your livelihood every step of the way. Partner with CIG’s Sydney insurance brokers to lock into the right protection today.

Who Needs Personal Accident Insurance?

If your business relies on your personal ability to work, the short answer is yes. Personal accident insurance isn’t just for heavy manual laborers. If an unexpected injury or illness would freeze your income, you will likely need coverage. There are tailored policy options for sole traders and business owners across every industry, see below to see if your business fits.

NDIS Support Workers & Providers

Self-employed carers and allied health sole traders who need continuous income protection while supporting clients.

Childcare Educators & Centre Owners

From home-based family daycares to full-service facilities, an active day on your feet carries daily injury risks.

Financial Planners & Advisors

Sole practitioners and boutique firm directors who require robust personal cover alongside their professional indemnity setup.

IT Contractors & Consultants

Freelance developers, network engineers, and tech consultants working without corporate sick leave benefits.

Gym Owners & Personal Trainers

Fitness professionals and adventure facilitators facing high physical demands every single day.

Drivers & Fleet-Based Trades

Mobile contractors, couriers, and trade business owners who spend their working hours on the road.

What Does Personal Accident and Illness Cover Include?

Personal accident insurance shields your personal income against sudden injury or illness, but it does not cover business debts, elective procedures, or statutory workers’ compensation claims.

At CIG, we can help you understand exactly how coverage breaks down.

What Is Covered	What Is Not Covered
Weekly Income Replacement: A core weekly benefit to maintain continuous cash flow during temporary recovery.	Business Debts: Personal accident insurance shields your personal income, not your business debts.
Optional Sick Pay: Expands your policy to cover time off work caused by serious illness, not just physical accidents.	Elective Procedures: Time off work for elective procedures is not covered.
One-Off Cash Payouts: A single, large payout if an accident results in a permanent disability or loss of life.	Statutory Workers’ Compensation Claims: These fall under the employer’s workers’ compensation scheme, not this policy.
24/7 Cover: Most insurers allow you to cover up to 85% of your regular pre-tax earnings, at work, at home, or while traveling.

What’s the Difference Between Workers’ Compensation and Personal Accident Insurance?

A general rule of thumb is that sole traders generally can’t claim workers’ compensation on themselves, therefore personal accident insurance exists.

	Workers’ Compensation	Personal Accident Insurance
Who does it cover?	Employees only	Self employed, sole trader or anyone
When does it apply?	Work related injuries and illness only	24/7 cover; Including weekends, home and sport
Compulsory or option	Compulsory for employers in every state	Optional
Who pays the benefit?	The employer’s state-based scheme or insurer	Your own insurer, direct to you

How Much Does Personal Accident Insurance Cost?

Every sole trader, contractor, and business owner works in different environments, and therefore has unique financial needs, there is no universal price tag for personal accident insurance. Premiums are calculated based on your specific risk profile and policy preferences, meaning costs vary from one person to another.
Instead of relying on generic estimates, at CIG we assist with determining and evaluating the most optimal premium for your situation. Below are key factors we take into consideration.

Occupation Risk

Trades that are high-risk (such as construction, scaffolding, or heavy machinery operation) incur higher premiums than lower-risk roles like office positions.

Age

Your age or age of who you’re covering plays a key role in rating policy risk, as statistical recovery times and health exposures shift over time.

Weekly Benefit Amount

The total amount of income replacement you choose to insure each week directly influences policy pricing.

Waiting Period

Selecting a shorter waiting period increases policy costs compared to choosing a longer wait time.

Benefit Period

Choosing a longer payout duration (such as 2 or 5 years) will result in a higher premium than a standard 1-year benefit period.

Optional Illness Cover

Expanding your coverage beyond physical injuries to include time off work caused by serious illness increases overall policy cost.

To gauge an accurate price of what you may anticipate paying for personal accident insurance, contact our Sydney team specialists for a tailored quote.

How our Process Works at CIG

Navigating income protection options shouldn’t be complicated. We do the heavy lifting to structure a personal accident policy that protects your earning capacity without hidden surprises.

Detailed Assessment of Your Operational Risks

We start by listening. Whether you’re on tools at a job site daily or consulting from a home office, we map out how you earn your income, the physical demands of your daily work, and where potential injury risks hide.

Compare Policies From Australia’s Top Insurers

We put your risk profile to the market and compare personal accident insurance options from Australia’s leading insurers, laying out your coverage options and costs clearly.

Tailor Your Sums Insured & Limits

Many insurance services leave gaps. We calibrate your weekly benefit, waiting period, and policy conditions to match your actual financial obligations, so you’re never overpaying or undercovered.

Partner for the Long Term

Unlike traditional brokers, we don’t disappear once the policy is placed. When an unexpected injury or illness strikes, we advocate for you through the claim, and as your business grows, we adjust your protection to keep pace.

Ready to get started? Get in touch with a CIG broker today.

Why Choose CIG Insurance

Choosing a broker is really choosing who’s in your corner when something goes wrong. That’s why Australian businesses rely on CIG as their insurance brokers of choice.

20+ Years Protecting Australian Businesses

Two decades of insurance experience means we’ve seen the claims that catch businesses out.

Tailored Advice Over One-Size-Fits-All Policies

We provide personalised advice designed around your occupation, income and cover needs.

Access to Australia's Top Insurers

We’re not tied to one provider. We source and compare policies across the market to find the right fit at the right price.

Proactive Claims Management

When an unexpected injury or illness strikes, we don’t hand you a phone number. We actively manage the claim and advocate for your best outcome.

Built for Businesses

No call centres, no cookie cutter policies. As Sydney based insurance brokers serving businesses across Australia, we deliver expert advice and tailor every policy to the way your business actually operates.

Personal Accident Insurance FAQs

Why do I need to consider Personal Accident Insurance?

Personal accident insurance replaces your income with a weekly benefit if an unexpected injury or illness stops you from working. It provides vital 24/7 financial protection for those who aren’t covered by workers’ compensation, including lump-sum payouts for permanent disability or accidental death. At CIG, our brokers manage your claim so you can focus on getting back to work.

I’m a sole trader or contractor, am I covered by WorkCover?

In most Australian states, sole traders and self-employed contractors cannot cover themselves under Workers’ Compensation (WorkCover). This leaves your income entirely unprotected if you get injured on or off the job site. Personal accident insurance fills this gap.

As a business owner, am I legally required to have WorkCover?

You are legally required to hold WorkCover for eligible employees, but WorkCover typically provides little to zero cover for you as the owner or partner. To protect your personal earning capacity, you need private personal accident insurance.

How do I make a claim if a relative passed away from an accidental injury?

If your relative held a personal accident policy with an accidental death benefit, their dependents or estate may be entitled to a lump-sum payout. Please contact CIG directly when you are ready. Our dedicated Claims Broker, will handle all communication with the insurer and guide your family through every step of the claim with care.

Who can make a NSW CTP personal injury claim?

Anyone injured in a motor vehicle accident in NSW (including drivers, passengers, pedestrians, cyclists, and motorcyclists) can make a CTP personal injury claim for lost wages and medical costs.

Personal Accident Insurance Starts with CIG

Lock in your income before an unexpected injury knocks you off your feet.

CIG understands you work hard for your money. If you’re a sole trader, contractor, or business owner, you don’t get paid when you don’t work. Personal Accident Insurance acts as your financial backup plan, replacing your regular earnings so your personal bills stay paid while you recover.

Protect yourself and your business today with tailored protection by speaking to an experienced CIG insurance broker today.

Curious about Personal Accident Insurance?

Speak To One Of Our Brokers Today