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Business expenses insurance reimburses ongoing fixed business costs if you are unable to work due to illness or injury. Eligible costs typically include rent or lease payments, staff wages, utilities, accounting fees, professional memberships, equipment leases, and loan interest.

It is designed for self-employed people, sole traders, and small business owners whose business costs continue to run even when they personally cannot bring in revenue. Premiums are generally tax deductible because the cover relates directly to running the business.

This cover sits alongside personal income protection rather than replacing it. Income protection replaces your personal income, while business expenses cover keeps the business solvent and the doors open while you recover.

The variables to compare are the monthly benefit limit, the benefit period (commonly 12 months), the list of eligible expenses, the waiting period, and any caps on individual expense categories. Without this cover, an extended illness can force a small business owner to eat into savings, take on debt, or close the business permanently.