Zurich Business Expenses Insurance review
There are pros and cons for running your own business. As a business owner, you have the ability to shape your own financial future, the opportunity to enjoy a rewarding and exciting career and the flexibility that comes from being your own boss. However, you also have to deal with all of the headaches that can come with running a business such as time commitments and economic fluctuations.
One thing that is difficult for business owners is taking time off. But when illness or injury strikes business owners are left with little choice. This can impact a business’s finances, resulting in unwanted anxiety for the business owner.
Business insurance alleviates these stresses and gives business owners peace of mind knowing that their company’s finances are secure.
Benefit with Zurich Business Expenses Insurance
If you want to ensure that your fixed business expenses continue are covered in the event you are unable to work due to illness and injury, Zurich Business Expenses Insurance might be the policy for you. Don’t make the mistake of relying on income protection insurance to get you through a period of illness or injury. Income protection cover is only designed to cover up to 75% of your income, which would be used on supporting yourself on a day to day basis, leaving your fixed business costs in a precarious situation.
At Zurich, when you take income protection product you are offered business expenses insurance is an optional extra. The combination of these two insurance products means that you receive cover for both your day-to-day costs, as well as your fixed business expenses.
Fixed costs your business can be covered for with this insurance policy include:
- leasing equipment or vehicles
- repairs and maintenance costs
- staff salaries.
Taking Out Adequate Cover
If you are considering Zurich Business Expenses Insurance, take the time to assess all of the fixed costs for your business. Combine your Zurich Business Expenses Insurance with income protection cover and benefit from greater value for money. The two products work in tandem to ensure both your income and your business expenses are covered. Having one provider for both insurances is also convenient, as it is one less phone call you’ll have to make.
Key Benefits of Zurich Business Expenses Insurance
There are many benefits that come with taking out Zurich Business Expenses Insurance. Key benefits include:
- Peace of mind. The business owner benefits from total peace of mind knowing that even if they are unable to work due to ill health or injuries, all of their important fixed costs will be covered.
- Focus on recovery. Policyholders can focus on their recovery rather than worrying about their business’s finances.
- Valuable protection. The main benefit of this cover is that it provides invaluable protection for your business. It ensures that vital fixed costs are covered. This includes rent, leasing costs, salaries, utilities and other fixed costs.
These benefits make taking out Zurich Business Expenses Insurance a savvy business decision and a sound investment.
When is Zurich Business Expenses Insurance Not Payable?
When you are looking into Zurich Business Expenses Insurance you need to make sure you check the fine print. Doing your due diligence will help you make an informed decision.
Zurich Business Expenses Insurance will to pay the Business expenses benefit until one of the following events occurs:
- the injury, sickness or malady that was the source of the claim no longer prevents the insured from earning an income
- the policy ends
- the insured dies
- the insured stops or disregarded medical advisement in regards to treatment that may have lead to their recovery
- the benefit period ends.
Zurich Business Expenses Insurance General Exclusions
No amount will be paid if the injury or illness is the result of:
- intentional self-inflicted harm
- a suicide attempt
- childbirth or pregnancy that was uncomplicated
- an act of war (whether declared or not)
- any event or medical condition that is excluded in the PDS or schedule.