Cover Your Business Overheads In the Face Of Adversity
Business overheads refer to the fixed costs of operating a business, which are indirect expenses not directly tied to the production of goods or services. Under business overheads insurance coverage, self-employed business owners can get a monthly reimbursement to cover fixed business expenses in the event of sickness or accident that makes the insured person unable to work. This coverage alleviates the operational and financial strain associated with business expenses, allowing you to focus on your recovery.
You have the option to insure for a maximum benefit period of 2 years. In the unfortunate event that you are unable to return to work, this coverage ensures that your business expenses continue to be paid until you can find a new owner, partner, or someone to step in and keep your business running. The primary purpose of this cover is not to foster the growth of your business but rather to safeguard it from creditors by fulfilling your contractual obligations.
Following are some expenses that can be covered in business overheads:
- Rent
- Utilities
- Leases
- Interest on loans
- Debt repayment interest
- Property taxes
- Maintenance services
- Internet and telephone service
- Legal expenses
- Recruitment
- Office costs
- Taxation and accounting costs
- ACC levies
- Staff salaries and bonuses
- PR costs
- Marketing expenses
Now is the best time to determine which insurance policy is suitable for your business and understand the prerequisites for the qualification. At Hello Financial Services Ltd, we recognise that no two businesses are identical. Therefore, we analyse each client’s individual case and offer tailored assistance. We roll up our sleeves and collaborate with you to identify the best policy that safeguards your business during a health crisis.
