Business expense insurance allows you to insure the fixed cost of running your business if you are temporarily unable to work. It covers costs like rent, electricity, staff wages, leases and loans, telephone and accountancy fees etc.
Commonly, this will be taken out by self-employed or small business operators so as to ensure that they have a business to return to, or can continue to operate so it can be sold if they are off work for an extended period.
WE WILL EVALUATE YOUR BUSINESS AND THE COSTS TO CONTINUE OPERATING
We will ask you
- What your fixed costs are each month?
- What contribution do your staff make to your business?
- How easy is it to sell/close down and will you get a fair price?
- How hard will it be to re-open?
Caroline is a dentist employing a dental technician and a receptionist in a sole-practitioner dental suite that she rents.
While attending a wedding, she slipped on the grass leading to the reception centre, breaking her hip and causing back pain.
Caroline had business expense insurance’ which allowed her to pay her rent, staff and other business expenses for the three months she was off work full time, and when she was working part-
time attending rehabilitation for almost a year.
Without insurance, she would have had to close the business and may not have enough savings in place to pay for the ongoing expenses.