If you have a small business that relies on you to keep running, what would happen if you were disabled? You probably have considered things like your medical bills, your wages, and other obvious issues that come into play when you are disabled. But what happens to your business? Business overhead expense disability insurance is a policy that provides the kind of coverage a small business that relies on a few people to keep it running needs in case of a serious injury or illness.
The costs of running a business are many and varied; when only a few people are the backbone of ensuring that things keep running smoothly, the loss of just one of those people can be catastrophic. Business overhead expense disability insurance is designed to provide coverage for those areas of your business that still need to be paid even when someone vital to the organization becomes disabled.
This type of policy covers your business for things like rent, utilities, and employee salaries, all basic things you simply can’t stop paying if you want the business to keep running. Beyond that, it also provides coverage for insurance premiums on things like workers’ comp and commercial insurance policies, taxes, and even interest on certain types of business debts. A business overhead expense disability policy also helps to pay things like repairs or maintenance on office equipment, postage, and other regular needs of a business. For any business that has only a few core people at its heart, this sort of insurance is invaluable.