Georgia Insurance Solutions

Business Overhead Expense Insurance  

Business Overhead Expense Insurance (BOE):

A practice or business that relies on a small number of people (or one person) to produce revenue is economically vulnerable if one of those individuals becomes disabled. A Business Overhead Expense Insurance policy will cover the ongoing operating expenses of your practice or business. It ensures that you do not have to use personal assets to pay for business expenses if you become disabled.

If the insured does become disabled, a BOE policy pays a monthly benefit based on business expenses, not anticipated profits. The following are some business overhead expenses that are covered by a BOE policy:

Rent or Mortgage Payments
Employee Salaries and Benefits
Utility Bills
Property Taxes
Accounting Fees, Legal Fees, and Professional Dues
Malpractice and Other Business Insurance Premiums
Maintenance and Janitorial Services
Depreciation
Interest on Business Debts
Office Supplies
Other Fixed Expenses that are Ordinary, Necessary, and Tax  Deductible

Business Overhead Expense plans are an effective way to protect a business and maintain cash flow in the event of a disability to one of the partners, key employees, or owners.

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