Business expense

Business Expenses Cover

If you were suddenly  taken ill or had a serious accident, and were unable to work would your business expenses such as the lease, electricity and salaries still need to be paid?

If your organisation is like many small to medium-sized businesses, it’s success will be largely dependent upon the contribution of you and your business partners. Where that contribution is no longer there because the owners of the business are unable to work, your business can be stretched both financially and operationally. The bills will still keep coming in even if you're unable to work.

Business Expenses Cover helps protect the contribution that you make to your business, if an unexpected illness or injury occurs. If you are a sole trader, small business owner or are in a partnership, Business Expenses Cover allows you to claim for the costs associated with the running of your business including the cost of a replacement, if you are unable to work due to illness or injury over a two year period.

You can use the monthly payments to cover your share of the business expenses or to pay a locum to run the business for you while you're off work. This enables the the business to keep trading in your absence and eases the financial strain until you can get back to business as usual.

An Adelphi Insurance adviser can sit down with you and your business partners, in the comfort of your office or home, and develop your business's personalised Business Insurance Plan to determine the ideal of Business Expenses cover you need for your business’s unique circumstances and needs.

Example of Approved Business Expenses

  • Accounting and audit fees
  • Advertising costs
  • Bank charges
  • Business-related insurance premiums excluding premiums for this policy
  • Couriers
  • Depreciation of equipment/plant
  • Electricity, gas, heating, water, telephone, cleaning and laundry costs, postage and handling
  • Employment of a locum
  • Leasing costs of plant and equipment
  • Motor vehicle costs
  • Property rates and taxes
  • Publications and subscriptions to professional associations
  • Rent and the interest component of any mortgage or loan payments relating to the business
  • Salaries and other related costs (e.g. payroll tax, superannuation contributions, FBT) for non-income generating employees of the insured person’s business
  • Such other fixed expenses incurred in the day to day running of the insured person’s business
  • Shared expenses are apportioned based on your earned income as a proportion of the total earned income of all those people who are sharing expenses.
  • Prepaid or accrued business expenses will be apportioned over the period to which they relate.

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