This third type of insurance is a vital addition to income protection insurance. It covers payments that you make on business premises, business vehicles and any other business related overheads that you may have. By having this insurance either as an add-on to your income protection policy or as a separate policy you can ensure that your business stays afloat even if you’re unable to work because of injury or illness.
Paying your ongoing business overheads in this way also means that you don’t have to use a portion of the benefit you receive from your income protection policy on things other than your living expenses – which is what an income protection policy is designed for at the end of the day. You won’t need to compromise on what you can and can’t afford in everyday life just so that you can keep your business going while you are off work. Also you won’t need to worry about going out of business because you can’t afford to pay the rent on your business premises or the finance agreements on your landscaping vehicle and machinery.