Business Expense Insurance?

As someone who is self-employed or running a small business, business expense insurance makes sure that the fixed costs of your business will still be paid in times when you cannot work due to illness or injury.

Who should consider this insurance?

This insurance is particularly useful for smaller businesses or partnerships with five or less people, as well as sole traders. It is not suitable for businesses where the cash flow is earned through sale of goods. Instead, it is ideal for businesses where cash flow generation is based on services provided, such as a consultant or tradesperson.

Some of these expenses the business expense insurance cover include:

Business Expense insurance does not cover:

The Waiting Period

If your claim is successful, there is a waiting period before benefits start to be paid. The waiting period may be as short as 14 days but is generally one to three months. If there is a shorter waiting period, the premium cost is usually higher. The maximum time that payments continue is usually up to 12 months.

If you need any support finding suitable Business Expense Insurance for your needs, please contact Wagtail Wealth.

IMPORTANT NOTE: This information is general advice only and does not take into account your personal circumstances, goals and objectives. Therefore, you should consider its appropriateness for your circumstances before acting on this information.

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