Business expenses insurance pays the ongoing fixed costs of running your business (rent, utilities, salaries, loan repayments) if you can't work due to illness or injury. It's designed for business owners and self-employed professionals, providing monthly payments for up to 12-24 months.
Business expenses insurance pays monthly benefits to cover the fixed operating costs of your business when you cannot work due to illness or injury. It is also called business overhead insurance or office overhead insurance.
It is designed for business owners, sole traders, and self-employed professionals, ensuring the business can continue operating during your absence.
The policy reimburses regular business overheads, including:
Unlike income protection (which pays you personally), business expenses insurance pays directly for business costs, usually up to a predetermined monthly limit.
Australian policies typically provide:
This gives you time to recover and return to work, or to make arrangements to sell or close the business.
This insurance is particularly valuable for professionals whose business relies on personal participation:
Dr. Smith, a GP practice owner, breaks his leg and can't work for 5 months. His business expenses insurance pays $15,000 monthly covering rent, reception staff wages, utilities, and loan repayments, keeping his practice operational
Sarah, a solicitor running a solo practice, is diagnosed with cancer requiring 8 months of treatment. Her business expenses cover pays $12,000 monthly for office rent, practice management software, professional indemnity insurance, and her paralegal's salary
James, a dentist, suffers severe back injury preventing practice for 12 months. His business overhead insurance covers $20,000 monthly in clinic costs, allowing him to keep his established practice running with a locum dentist
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