Business Expenses Insurance

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Business owners can insure up to 100% of their normal day-to-day business running expenses for up to 12 months.

It does not matter if your business continues to earn an income while you are unable to work or not – the expenses are covered.

Business expenses include such things as rent, business loan repayments, salaries and wages, cost of locum to cover your role, rates, electricity, telephone and other such essential out-goings.

It is a good idea where possible to have an ‘agreed value’ policy to cover your expenses so there is clarity about what will and will not be paid. This is something we would discuss with you.

Business Expenses insurance is a lot cheaper than Income Protection insurance because it is only for 12 months whilst income protection can be up to age 65 or 70.

Many people choose to have a short waiting period with their Business Expense insurance and a slightly longer waiting period with their Income Protection insurance.

Both Income Protection and Business Expenses insurance are tax deductible and usually taken out together for those who have a business.