Business Overhead Insurance Toronto

You never know when accidents or illnesses will happen – and you definitely don’t want them to affect your business. If you or a business partner were to ever require to take a disability leave, you can assure your Toronto business will be taken care of and free from financial strain with a business overhead insurance policy.

What is Business Overhead Insurance?

If you are ever unable to work due to a disabling injury or illness, having Toronto business overhead insurance keeps you from having to pay for a variety of business expenses out of your own pocket.

Typically, if you are running your own business or practice, the company’s wellbeing and financial security rely on the revenue you generate to sustain it. If you ever have to stop working due to a serious injury or illness, your company’s operations can come to a halt without the funds to continue functioning. Business overhead insurance Toronto is an expense reimbursement policy that will cover the fixed monthly expenses that are necessary to keep your business running. You will receive monthly payments that function like a paycheque from your insurance provider that you can then use to cover the costs of operation.

These policies can typically last for a period of time up to 24 months, covering both short- and long-term disability. You can rest easy knowing that you and your business are taken care of until you can return to work. Payments will end once you’re back on your feet and able to work once again.

Business Overhead Insurance Toronto

Why is Business Overhead Insurance so Important?

Business overhead insurance is vital to the security and protection of your business or practice. You can continue to afford to run your business, even if you’re not there, until you are able to return to work or figure out what decisions to make regarding the future of your business.

Toronto business overhead insurance acts differently than personal disability insurance, which will only cover you and your family’s personal living expenses. Not protecting your business too can be a critical error if anything were to happen to you. Without a business overhead insurance policy in place, business owners on disability leave may not have other options than to use your personal savings to protect your company.

You will be able to take the time you need to recover without having to worry about your business’s finances. Maintain your professional momentum, retain your loyal employees and improve your health with business overhead insurance.

What Does Business Overhead Insurance Cover?

Business overhead insurance in Toronto covers a wide variety of business operating costs. Just a few of these covered expenses can include:

Ongoing Fixed Expenses: There are fixed monthly costs every business has to deal with that include rent, property taxes and utilities among others. These are the expenses that you typically associate with a business’s overhead.
Salaries and Payroll Taxes: Make sure your loyal employees stick by you while you’re on disability leave. Pay their salaries and wages through business overhead insurance as well as any taxes related to payroll. It won’t typically cover the salary of temporary employees hired to do the duties of the individual on disability leave, unless under specific circumstances.
Equipment: If you’re business requires certain equipment to operate, business overhead insurance will cover it. Don’t worry about the rental, lease or depreciation of your office equipment. It also covers any equipment maintenance that might be required.
Outstanding Business Debts: If you have any eligible outstanding business debts, business overhead insurance in Toronto will cover the interest payments.
Insurance Premiums: Business overhead insurance will cover the costs of other insurance premiums such as worker’s compensation, employee medical plans, employee taxes, general liability and professional liability/malpractice.

The scope of your business overhead insurance in Toronto will rely on what your company or practices requires. KASE Insurance, the GTA’s leading commercial insurance brokerage, specializes in providing our clients full coverage business overhead insurance.

Who Needs Business Overhead Insurance?

Anyone who’s ability to generate income that will make a difference between whether or not the company will be open or closed for business in Toronto should have business overhead insurance. It’s designed for owners of small businesses or the main principle of a practice who are heavily involved in the day-to-day operations. This includes physicians, accountants, engineers, lawyers among other similar professions.

In order to qualify for business overhead insurance, you need to be between the ages of 18 to about 65. You need to have been in business for at least two years and have an external office where you conduct business as insurers typically do not grant business overhead insurance to individuals who work from home.

Why go with KASE Insurance?

You never know what unexpected turns your life will take. Don’t leave your business unprotected without business overhead insurance.

At KASE Insurance, we pride ourselves on providing our commitment with peace of mind and the utmost customer satisfaction. We work with a wide range of business owners to provide them with the insurance that they need. Our team of experienced experts make it our number one priority to find our clients the right insurance policy for them at the best rates.

Take care of yourself and your business when you choose KASE Insurance in Toronto. Contact us today and book a consultation with one of our expert insurance brokers.

Read what clients have to say about KASE

By far the most professional and trustworthy insurance brokerage I have known. We have been working with this firm for number of years now and I have nothing but good to say about their team and services. Stan and his team won't stop until we are fully satisfied. They are always on top of things, super fast in their assistance and very professional. I highly recommend this firm to anyone seeking for great insurance brokerage to work with. Big Thank You to Stan and Kase Insurance for many many years of great service!

Reviewer: Alex K


5 out of 5 stars

Stan and is team at KASE Insurance have been fantastic in explaining what insurance we needed for our business. Very hands on approach and detailed. I work highly recommend KASE Insurance for any business owner looking for great service.

Reviewer: Kyle Grooms


5 out of 5 stars

The KASE team is very easy to work with. They answer your questions quickly, walk you through the process patiently, and find you great rates. We've been working with them for a few years and we haven't felt the need to shop elsewhere because of their customer service.

Reviewer: Sasha Boersma


5 out of 5 stars

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