NobleOak Business Expenses Insurance

Cover your business expenses if you can't work with the help of NobleOak.

Business expenses insurance provides a financial back-up plan to cover your fixed business expenses in the event you are unable to work due to serious illness or injury. When you take out business expenses insurance with NobleOak, you’ll be covered for business expenses, such as rent on your business property, water, electricity or gas, employee wages and any business loans.

This cover means that your business won’t neglect any of its commitments while you’re not generating a regular income, and you will still have a business to return to when you recover. NobleOak business expenses insurance will cover up to $25,000 per month to pay for regular and ongoing business expenses.

Maximum Monthly Benefit$25,000
Maximum Benefit Period
This is the length of time that an income protection payout will last.
12 months
Waiting Period
This is the minimum amount of time you must be off work before an income protection benefit kicks in.
30 days
Maximum Entry Age59
Expiry Age
This is the age of the policyholder when life insurance will no longer payout for claims.
  1. You can get an income protection quote on the NobleOak website.
  2. You'll go through a full medical and lifestyle questionnaire over the phone.
  3. Your application will be sent off to their underwriters for assessment.
  4. Once approved, they will give you a call and organise a date to activate your cover.

Get a quote for NobleOak Business Expenses

Maximum entry age

The maximum age to initially purchase NobleOak business expenses cover is 60.

How does NobleOak's Business Expenses policy help your business out?

Business expenses insurance from NobleOak is an affordable insurance product that gives peace of mind to you and your employees. It will help ensure that your business continues running even if you are too ill or injured to work. If you cannot work because of illness or injury, your NobleOak insurance will kick in and provide you with the following:

  • Reimbursement of all fixed ongoing business costs.
  • The amount of the business costs NobleOak will cover is determined when you take out the policy and choose the cover amount. You can cover up to $25,000 per month.
  • Ongoing fixed costs are those which would be incurred by the business whether it was generating income or not, for example payments for your utilities and loans.
  • Benefit payments for up to a year while you recover.

What does it cover?

NobleOak has created an affordable and inclusive business expenses policy to make it easy to protect your business if you’re not there. The policy includes the following features:

  • A total disablement benefit. This is a monthly benefit paid out if you become totally disabled and allows you to replace part of your income. The benefit will be paid if you are injured accidentally or if you become ill, but the benefit will only be paid for one illness or one injury.
  • Partial disablement benefit. This benefit pays out if you are partially disabled but are able to return to work for at least 14 consecutive days after your injury and perform at least one, but not all, of your normal duties. The benefit will be paid if your income after your disablement is less than the amount you were earning before.
  • Premium waivers. If you make a successful claim and are being paid benefits under your business expenses insurance, you are not required to pay the premiums for the period of the claim.
  • Eligible business expenses. Your NobleOak business expenses insurance will pay for the following fixed expenses, and any which have been specifically approved: premises expenses such as cleaning, insurance, loan interest, loan fees or property taxes; services expenses such as power, phone, fax, Internet and water; equipment expenses such as motor vehicle depreciation, vehicle leasing or insurance, registration or repairs and maintenance; personnel expenses such as salaries, payroll tax and superannuation; plus any other expenses such as accounting fees, bank fees, auditing fees, professional memberships and ongoing advertising costs.
  • Tax deductible premiums. In some cases, the premiums for your NobleOak business expenses insurance will be tax deductible as the premiums themselves are a business expense.

Who is eligible for cover?

To apply for business expenses insurance from NobleOak, you must be between 18 and 60 years old. You must also be a permanent Australian resident. Your cover can continue until you are 65 years old, and you can choose a monthly benefit amount of up to $25,000 per month. The premiums are calculated based on your gender, your age, your health, your lifestyle and your occupation. If you have particularly high risk factors, a premium loading may be applied.

Your business relies on you for security and success just as much as your family does, so NobleOak makes it easy to protect your business if you fall ill or become injured. Business expenses insurance keeps your business running, out of debt and preserves its credit rating while you’re not able to generate a normal income and makes sure that the fruits of all of your hard work are there waiting for you when you return.

Steps to apply

  1. You can either get a quote online or give NobleOak a call.
  2. You'll go through a full medical and lifestyle questionnaire over the phone.
  3. Your application will be sent off to their underwriters for assessment.
  4. Once approved, they will give you a call and organise a date to activate your cover.

Receive a quote for NobleOak business expenses cover

William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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