The Best Way to Protect Your Business

Business overhead expense insurance is a type of disability insurance that covers the fixed monthly expenses of a business if the owner becomes disabled. This includes expenses such as rent, utilities, salaries, and insurance premiums. //businesshubs.org  expense insurance can help to keep a business afloat financially during a time when the owner is unable to work.

Who Needs Business Overhead Expense Insurance?

Business overhead expense insurance is ideal for business owners who are the primary source of income for their businesses. If the owner becomes disabled, the business may not be able to generate enough revenue to cover its fixed expenses. Business overhead expense insurance can help to bridge the gap between the owner’s lost income and the business’s fixed expenses.

How Does Business Overhead Expense Insurance Work?

When a business owner becomes disabled, they will file a claim with their business overhead expense insurance company. The insurance company will then reimburse the business for its fixed monthly expenses up to the amount of the policy’s coverage limit. The insurance company may also pay for other expenses, such as the cost of hiring a substitute employee or the cost of marketing the business to new customers.

How Much Does Business Overhead Expense Insurance Cost?

The cost of business overhead expense insurance varies depending on the size of the business,  the amount of coverage  desired, and the business owner’s age and health. In general, business overhead expense insurance is more affordable for younger business owners with good health.

Is Business Overhead Expense Insurance Right for You?

If you are a business owner who is the primary source of income for your business, then business overhead expense insurance may be right for you. This type of insurance can help to protect your business financially in the event of a disability. To learn more about business overhead expense insurance, contact a licensed insurance agent.

Here are some additional things to keep in mind when considering business overhead expense insurance: