If you are self-employed and run your own business, Business Expenses Insurance may be suitable for you. You can choose cover up to $25,000 per month which will help cover the fixed running costs of your business if you are unable to work due to sickness or injury.

For example, Kevin is running a thriving plumbing business when he has to undergo a kidney transplant. He may have Income Protection Insurance that will cover his personal income while he cannot work, but how can he ensure that he has a business to return to when he’s back on his feet? The business’s fixed costs include rent of his workshop premises, utility bills, truck leases, and the wages of his apprentice and his receptionist. Fortunately, Kevin has also taken NobleOak Business Expenses Insurance, so after the waiting period of 30 days he will be eligible to receive additional monthly benefits that cover these ongoing fixed costs. This allows him time to focus on his recuperation without financial stress or the fear of losing his business and his valued employees.

Business Expenses Insurance helps you cover the fixed running costs of your business if you are disabled due to a Sickness or Injury. Allowable business expenses include:

• Premises expenses: Office/warehouse rent, rates/taxes, security costs, cleaning, insurance, mortgage repayments, repairs and maintenance.
• Utilities: Electricity, telephone, internet, postage, couriers, water and sewerage.
• Motor vehicle leasing, depreciation, insurance, registration, repairs and maintenance.
• Salaries of employees who do not generate income, for example a receptionist and administration staff, together with their payroll tax and superannuation.

Other eligible expenses include accounting and auditing fees, business insurances, professional membership fees and regular advertising costs.

If you are self-employed and run your own business, your NobleOak Income Protection Insurance is a great start in the event that you become totally or partially disabled due to sickness or injury. But we understand you have extra responsibilities as a business owner. NobleOak Business Expenses Insurance gives you that extra cover to help keep your business afloat while you are out of action.

As a business owner, Business Expenses Insurance is an important add-on to your Income Protection Insurance. You can choose cover for your business of up to $25,000 per month for up to 12 months, to help cover your fixed running costs if you are unable to work due to sickness or injury.

For example, Kevin is running a thriving plumbing business when he has to undergo a kidney transplant.

He has Income Protection Insurance that will cover his personal income while he cannot work, but how can he afford to keep his business running until he’s back on his feet? The business’s fixed costs include supply orders, office rent, utility bills, truck lease, an apprentice and a receptionist.

Fortunately, Kevin has also taken NobleOak Business Expenses Insurance, so after the waiting period of 30 days he is eligible for monthly benefits that cover his fixed costs and allow him to focus on recuperation without financial stress or the fear of having to close his business.