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Business Expenses Cover

"When your income ceases due to illness or injury, your business expenses don't"

Note: For Self Employed Persons Only!

 

What is Business Expenses Insurance?

Business Expenses Insurance is designed to pay your fixed business expenses in the event that you are unable to work due to illness or injury.

Why do I need Business Expenses Insurance?

Because your business expenses don't stop just because you do. Having Business Expenses Insurance can keep your business running smoothly and profitably while you take time out to recover.

How much Business Expenses Insurance do I need?

You should consider covering at least the major expenses which would continue even if you were unable to work. These costs may include rent on your premises, vehicle leases, salaries of non income producing staff, the cost of a locum, electricity, phone, insurance costs and so forth.

We are able to assist you in determining the level of cover you require.

Case Study

Michael is an architect who has his own business. He employs several other architects and apprentices. Whilst on a fishing trip Michael slips in the boat and breaks his back. Luckily, Michael's adviser had recommended Business Expenses cover as a supplementary benefit to his income protection. Whilst unable to work for 10 months whilst recovering, Michael's policy pays for the lease on his business premises, the income of his secretary and miscellaneous office expenses such as phone, electricity and advertising. By having added Business Expenses cover to his Income Protection policy Michael is able to ensure his business remains healthy, whilst he is not.