Business Expense Insurance
Business expense insurance is a financial back up plan for your business. It gives business owners the confidence in knowing that they have a plan in place to keep the business running if they’re unable to work due to sickness or illness. Business expense insurance generally pays a monthly sum for up to 12 months to help cover fixed business expenses so you can focus on your recovery and not your bills.
This money can help you to keep your doors open, your employees paid, and your customers happy until you can return to work. Depending on the nature of your business, your fixed business costs may include:
- Office rent or fees plus interest on your property loan;
- Bank fees and charges;
- Accounting and audit fees;
- Leases on cars, equipment or machinery;
- Insurance and security costs;
- Electricity, gas, water and property rates;
- Salaries and staff superannuation (for employees who don’t generate any business revenue).