Norwest NSW
Business Expenses Protection
If you're the business, what happens to the rent, wages and bills when you're sick or injured and can't work?
Business expenses protection is a type of cover that pays your fixed business costs while you're off work due to illness or injury. It's not an income replacement. It's there to keep the business running so there's something to come back to.
Who it suits
- Sole traders and contractors
- Business partners
- Medical, dental and allied health practices
- Tradies with leases, vehicles and apprentices to pay for
- Any owner-operator whose business stops when they do
What it can cover
It generally doesn't cover your personal living costs. That's what income protection is for.
Rent or lease payments
Keeps your premises lease or rent paid while you're unable to work.
Staff wages
Helps cover wages for employees or apprentices who still need to be paid.
Utilities and phone
Ongoing utility and communication costs that don't stop when you do.
Vehicle and equipment finance
Finance repayments on vehicles and equipment that keep running.
Accounting and software fees
Fixed professional and software costs that continue during your time off.
Case study
An example
A plumber with two employees breaks his leg and can't work for three months. Rent on the workshop, the van payments and the apprentice's wages keep coming. With business expenses cover, those fixed costs are paid for the period he's off, after the waiting period. The business is still standing when he gets back.
Illustrative example only. Benefits depend on the policy and what you've insured.
Contact us
To see what you'd need, tell us:
We're based at Suite 2.02, 2-8 Brookhollow Ave, Norwest NSW. Call 02 8660 2305 or email admin@idealbrokers.com.au.
Ideal Insurance Brokers, Norwest NSW 2153. Ideal Brokers Pty Ltd (CAR No. 001262504 | ABN 65 623 205 952) is a Corporate Authorised Representative of Metrix Connect Pty Ltd ACN 635 286 136 as the trustee for the Metrix Connect Hybrid Trust ABN 55 742 327 931 | AFSL No. 525491. This page contains general information only and does not take into account your objectives, financial situation or needs. Read the Product Disclosure Statement before buying.
Business expenses insurance FAQs
Business interruption responds to damage to the property, like a fire. Business expenses protection responds when you can't work because of illness or injury.
No. Income protection replaces your personal earnings. Business expenses protection pays the business's running costs. Many owners have both.
The time you're off before payments begin. A longer wait usually means a lower premium. We'll show you the options.
In many cases, yes, but check with your accountant, as we can't give tax advice.