Business Overhead Expense

Helps cover essential business operating expenses during an owner’s disability, with premiums generally deductible as a business expense.

Business owner reviewing business expenses

Protect Your Business Expenses When You Cannot Work

For business owners and self-employed professionals, an unexpected illness or injury can interrupt income while business expenses continue to accumulate.

Business Overhead Expense (BOE) Insurance helps cover eligible ongoing business expenses when an owner becomes unable to work due to a covered illness or injury, providing financial support to keep the business operating during recovery.

From commercial rent and employee salaries to utilities and essential operating costs, the right coverage can help reduce financial pressure and protect your business savings.

InsureBizz Financial Inc. helps business owners explore coverage options tailored to their business expenses and financial needs. Contact us to find the right protection for your business.

Why Consider Business Overhead Expense Insurance?

Your business expenses do not stop when you cannot work. BOE Insurance can help maintain essential operations and reduce the financial burden during a covered disability.

01

Protect Business Operations

Help maintain business continuity and keep essential operations running during an owner’s disability.

02

Cover Fixed Expenses

Receive reimbursement for eligible ongoing operating costs, subject to the terms of your policy.

03

Preserve Business Savings

Reduce the need to rely on business reserves or personal funds to cover essential expenses.

04

Protect Employees

Help maintain essential staffing and support ongoing business operations during recovery.

05

Flexible Coverage Options

Explore benefit amounts and coverage periods suited to your business requirements and eligible expenses.

What Expenses Can Be Covered?

Depending on the insurer and policy provisions, Business Overhead Expense Insurance may reimburse eligible fixed business operating expenses such as:

01

Commercial Rent

Eligible commercial rent or mortgage interest expenses associated with your business premises.

02

Employee Salaries

Eligible employee wages and salaries required to maintain essential business operations.

03

Utilities & Services

Qualifying utility bills, telephone and internet services necessary for operations.

04

Equipment Expenses

Eligible equipment leases and financing expenses associated with business operations.

05

Business Insurance

Eligible business insurance premiums required to maintain appropriate coverage.

06

Essential Operating Costs

Qualifying accounting fees and other essential operating expenses covered by the policy.

Please note: Coverage depends on the specific policy. Benefits generally reimburse eligible business expenses rather than the owner’s personal income or lost profits.

Business Overhead Expense vs Disability Income Insurance

Both types of insurance offer valuable protection, but they serve different financial purposes.

Business Overhead Expense Insurance

Helps reimburse eligible ongoing business operating expenses when an owner cannot work due to a covered disability.

  • Helps cover eligible fixed business expenses.
  • Supports ongoing business operations.
  • Helps preserve business financial reserves.

Disability Income Insurance

Helps replace a portion of the owner’s personal income when a covered illness or injury prevents them from working.

  • Helps replace eligible personal income.
  • Supports personal living expenses.
  • Provides financial support during recovery.

Together, these policies can provide more comprehensive financial protection for both the business and its owner.

Additional Protection Without Reducing Personal Disability Benefits

One important advantage of Business Overhead Expense Insurance is that it provides protection for eligible business operating expenses separately from personal Disability Income Insurance.

While personal Disability Income Insurance helps replace a portion of an individual’s earnings, Business Overhead Expense Insurance reimburses qualifying business expenses under the policy.

Personal disability benefit limits, including any maximum percentage of eligible earned income, depend on the insurer, underwriting requirements and policy provisions. Business overhead benefits are subject to their own eligibility criteria and limits.

Having both types of coverage may help business owners protect their personal financial stability while maintaining essential business operations during a covered disability.

Who Should Consider This Coverage?

Business Overhead Expense Insurance can be particularly valuable for professionals and business owners whose operations depend on their active involvement.

01

Self-Employed Professionals

Individuals who must continue paying business expenses even when they cannot work.

02

Healthcare Practitioners

Physicians, dentists and other practitioners operating private practices or clinics.

03

Small Business Owners

Owners with significant fixed expenses and ongoing financial commitments.

04

Owner-Dependent Businesses

Businesses that rely heavily on the owner’s expertise, presence or ability to generate income.

Find the Right Business Overhead Expense Protection

InsureBizz compares Business Overhead Expense Insurance solutions from leading Canadian insurance companies, helping business owners evaluate eligible expenses, monthly benefit amounts, waiting periods and coverage durations.

Contact us to explore insurance solutions designed to protect your business during an unexpected disability.

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