Business Expenses

Business Expenses is a financial back up plan for your business where you can feel confident knowing that you have a plan in place to keep the business running if you cannot work due to illness or injury.

It acts like an income protection policy for your business in that your fixed business overhead expenses will be covered if you are injured or ill and cannot work. The benefit generally lasts a maximum period of 12 months.

What it covers

Business Expenses Insurance covers a whole range of expenses your business must pay out regularly. It does not cover estimated profits. It covers the costs your business spends on a daily basis and can include:

• Rent
• Staff salaries
• Equipment maintenance costs
• Bills, including electricity, gas, cleaning, telephone and internet, etc.
• Loan repayments
• Insurance premiums and security expenses
• The cost of a locum
• Leases on cars, machinery, and other equipment
• Accounting fees
• Auditing fees
• Membership fees and subscriptions to professional bodies
• Advertising, postage, printing and stationery

Business Expenses Insurance does not typically cover:

• The salaries and wages of temporary employees
• Income taxes
• Furniture costs
• Inventory costs

 The world does not stop when you are out of action; while your revenue decreases, your business must still cover overhead expenses. Your Business Expenses Insurance policy safeguards your business against your absence at work.