Business Overhead Insurance Timmins

We Got Your Business Covered

As a company owner, you are fully aware that the invoices will continue to appear even if you’re not there to pay them. It might be challenging to afford a sick day, much less a Long-Term Disability. Thankfully, PAIB Insurance has excellent knowledge of affordable Business Overhead Disability Insurance policies.

Business Overhead Insurance coverage may assist you in paying your portion of several of your company’s overhead expenditures, such as office rent, staff wages, insurance premiums, electricity bills, business, and malpractice insurance premiums, and accountant’s fees. Take advantage of PAIB expertise and apply for business overhead insurance coverage in Timmins today.

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What is business overhead expense insurance?

Business overhead expenditure insurance is a reimbursement policy that covers the set monthly overhead expenses necessary to keep a business operating until the covered owner returns from a period of disability. This enables company activities to continue until the covered owner returns to work or makes a decision about the firm’s future.


If you run a small business, you are likely to play a major role in generating revenue, particularly if you provide a specific service that your staff may not be able to provide. Therefore, if you were to become too ill or injured to work for a lengthy period of time, your firm may suffer significant financial consequences.

Many people believe that their chances of being disabled for a long period of time are minimal. However, it is more frequent than you may imagine. In fact, a 20-year-old has a one-in-four probability of being too unwell or disabled to work at any point throughout their career. It is extremely important to have a contingency plan in place to safeguard the company you’ve built and the people that keep it operating. Business overhead cost insurance may aid in the protection of the business you have worked so hard to establish.

Who should get business overhead expense insurance?

money, grow, gain

Small company owners and proprietors of closely held businesses or professions are eligible for business overhead expense insurance. It is crucial for companies and practices where the owner’s capacity to create money determines whether the office is open or closed, such as doctors, attorneys, accountants, engineers, and others.

Call us today at 1-844-360-5300 and discover how businesses benefit from Business Overhead Insurance. 

Why do you need to buy business overhead insurance?


The need for BOE insurance is obvious: if you are temporarily unable to work, your company may experience a considerable drop in income as a result of your incapacity to give clients and customers the services they need. However, you would still be liable for your overhead costs, like rent or mortgage payments, loan payments, insurance premiums, and utility bills, in addition to staff salary. BOE insurance may assist in paying these costs for up to two years after a disability. Therefore, even if your income decreases, the firm may continue to operate while you recover.


Employee Wages

Payroll taxes

Office expenses

Dues and fees


Office’s rent or mortgage

Associated property taxes

Insurance premiums


Your own wages and profit

Your relative’s wages and profit (unless employed 60 days before your disability)

Costs that are covered by another source

Office space additions: furniture/renovations etc.


The BOE insurance policy only covers fixed company expenditures, which is a critical part. The business overhead insurance will not cover the expense of purchasing additional inventory, equipment, property renovations, or anything else that exceeds the firm’s basic overhead.

Another expense not covered by BOE insurance is the handicapped owner’s salary. You would require individual disability income insurance for this, which you should consider buying if you do not currently have it. You have your own set costs at home, after all.

To determine how much business overhead expenditure insurance your company needs, you must assess your overhead expenses. Use a business expenditure calculator to get started, and see a financial expert for further in-depth help. You must also decide how much of the expenditures are covered by the money you, the owner, generate. This is the percentage of business expenses covered by the insurance benefit.


The majority of insurance providers let you tailor your BOE insurance policy with a variety of extra riders. These may include automatic benefit increases to reflect increased overhead expenses over time; partial disability payments in the event that you are able to return to work but in a reduced capacity; or benefits to cover the salary of a temporary replacement hired to do your duties.

The rates that your business pays for BOE insurance are often tax-deductible. Despite the fact that benefit payments are taxable, they are used to pay for costs that are normally tax-deductible. Talk to an expert tax professional at PAIB Insurance to know more.

PAIB Insurance: Committed to Your Business

You’ve put in a lot of effort to establish your business. You understand better than anybody how much effort is required to own and operate a small business. So, although it is unsettling to consider that you or another owner may become temporarily disabled at some time, it is reassuring to know that your firm can continue to thrive – even while you recover.


A tax-deductible BOE Insurance policy may provide you with the peace of mind knowing you can “keep your lights on” if there is an unexpected accident or sickness. Don’t let the unknown shutter the doors that you’ve worked so hard to open.

As your trusted Adviser, PAIB Insurance is devoted to much more than just putting your commercial insurance with the appropriate carrier; we’re here to collaborate with you in risk management and ensure the long-term viability of your company.

Please contact us at 1-844-360-5300 or to set up a free and tailored consultation to examine Business Overhead Expense Insurance solutions for you.


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