What is Business Expenses Insurance?

There are several types of small business insurance policies available in the industry.  One of these is the business expenses insurance.  Yes!  You can insure your expenses.  This will help your business keep going by reimbursing your fixed expenses if you are unable to work due to sickness or injury.  We all know that running a successful business takes a lot of money and hard work.  Therefore you need to make certain it will still move forward even if you become disabled or could not work.

Business expenses insurance guarantees the stability of your business, making sure that you still have a business to return to following a time of sickness, or a business to sell as a continuous concern.

If you are self-employed or in a small partnership, it is even more important to keep the business going, and therefore you need to not only insure your income but the fixed, regular expenses of the business, as well.

What are the key features of Business Expenses Insurance?

• Waiting period – This is period where you will not pay any benefit.  You normally choose to have a waiting time of 14 to 30 days. Remember, the longer your waiting period is, the lower premium you have to pay.

• Refund – Your business expenses insurance premiums will be refunded to you while you are disabled.

• Recurring disability benefit – You can continue to claim when the disability recur within six months after you returned to work.  Just take note that the cause of disability should be the same or related to the previous disability.

• Return to work during the waiting period – You can return to work during the waiting period.

• Death benefit – Your estate can claim three months benefits as a lump sum if you die while the policy is in effect.

Don’t forget that the team at Professional Insurance Brokers are happy to help you with your small business insurance quotes, if you are in Australia, just call 1300 profin (or 1300 776 346) and our staff will help you get a better deal for your business insurance.