What would happen if you developed a serious illness or disease or were unexpectedly injured? How would you cope if unable to work and earn your usual income? How would you cover the regular and ongoing business expenses that had to be met regardless of whether or not you were working? Would your business land in financial ruined during your time of ill health and recovery? Thankfully, Business Expense Insurance exists.
Business Expense Insurance acts to safeguard your business against financial ruin. Whilst income protection covers your personal expenses, Business Expense Insurance is designed to cover your business expenses.
Business Expense Insurance helps you cover all the fixed business expenses that continue to mount up even when you're not at work. These may include a lease or loan repayment on a ute or truck, equipment finance repayments, business insurance premiums, salary or wages for permanent staff as well as ongoing advertising costs.
If you were unable to work and didn't have Business Expense Insurance, your inability to pay for fixed business expenses could result in the repossession of vehicles, equipment, a poor credit history and even the loss of much needed liability insurance. Thus, the decision to ignore the need Business Expense Insurance could result in a business that is completely run into the ground by the time you are well enough to return to the business.
If you would like to discuss your insurance options please contact one of our friendly and accredited insurance advisers today. We will help you determine the best insurance policy for you and your business. Just call us on 1300 793 143 or fill out the form on this page.