Whilst you may think that you will always be around to take care of your business and its financial wellbeing and earn money from your business, a single unexpected incident could change all of this and have a real impact on your business and finances. Any self employed person knows that when it comes to their business, problems can and do arise – particularly when they are in no fit state to take action due to sickness or injury.

Of course, none of us expect to become ill or be injured to the point where we cannot work but it can and does happen to many people. This is why it is important to think about the future and have some form of protective cover in place to ensure that your business can keep going even if you are unable to work. One of the areas that your business would need to address if you are unable to work due to sickness or injury, would be the regular fixed operating costs of the business and this is something that you can cover through specialist insurance cover, such as CommInsure Business Overheads Protection.

What does the CommInsure Business Overheads Protection cover?

It is important that you check to see what is and is not covered with any insurance plan that you take out for your business. With the CommInsure Business Overheads Protection a large number of eligible business expenses are covered. However, there are also some exclusions that you need to take into consideration. Some of the expenses that are covered under this plan include:

• Rates and taxes on your property
• Utility expenses including but not restricted to telephone and electricity
• Rent payments on your property
• Mortgage payments including principle and interest
• Cleaning and laundry costs
• The cost of hiring or leasing vehicles or equipment
• Premiums on business insurance cover
• Registration and insurance costs on business vehicles
• The cost of maintenance and repairs for your business based on a contract with a third party
• Banking charges and fees
• Fees for accountancy and audit services
• Subscription fees relating to your business
• Advertising and security costs based on a contract with a third party
• The cost of postage, stationery and printing for your business

These are just some of the expenses that are covered under this insurance plan, making it a comprehensive plan that can offer valuable peace of mind to those that are self employed and who therefore face greater risks in the event of a debilitating injury or illness. You will have the peace of mind that even though you are not in a position to work, key overheads and expenses that are vital to keeping your business running will continue to be paid under the cover provided by this plan.

There are also a number of other benefits and features that are available as part of this insurance cover plan. This includes features such as:

• Interim accident cover – this provides total peace of mind by covering you for total disability caused by an accident whilst your actual application is still being processed
• Waiver of premium – this ensures that whilst you are on certain benefits you will not have to pay your insurance premiums
• Elective surgery cover – this enables you to claim benefits for elective surgery as long as your cover has been in place for a minimum of six months
• Locum expenses – this is where you can include the cost of a locum as part of your covered business expenses
• Cash back option – this enables you to get some of your premiums back at the end of the policy providing you have not had to make any claims
• Reward cover – if you keep your cover for more than three years you are rewarded with free accidental death cover

Another thing to bear in mind is that you can take out the CommInsure Business Overheads Protection as part of a bundled plan with Income Care or Income Care Plus cover. If you decide to do this, you will benefit from a 10 percent premium discount each year on your CommInsure Business Overheads Protection.

Who can benefit from this cover?

This is a type of cover that is designed to cater for those who are self employed and who need to put measures in place to ensure that their business operating costs and expenses can still be met in the event that accident or illness stops them from working and being able to cover these costs themselves. It is a plan that not only offers valuable peace of mind for self employed people, which is vital in the current economic and financial climate, but also invaluable protection.