How to Choose the Right Business Expense Insurance Provider

Written on the 25 June 2013

Most entrepreneurs and self-employed Aussies protect themselves from general threats to their business in areas such as customers, suppliers and competitors – potential threats that every business owner is aware of. But many also make one common mistake – failing to protect their business and their income from the unseen threats.

They work hard, day in and day out, to grow their business, putting in years of blood, sweat and tears to build their business from the ground up but they forget to protect their business from themselves.   If they were to suffer from an illness or injury that renders them unable to work in the business then who would take over? This one simple mistake is simple and easy to fix – yet if it remains unaddressed, could be the demise of the entrepreneur’s little empire.

Steve Culpitt, Financial Planner  of Arrow Focus on Wealth Pty Ltd says, “Business expense insurance covers the expenses of the business if the business owner is unable to work due to sickness or injury. The insurance company will cover the regular fixed operating expenses and pay for the cost of running the business during the period when they are unable to work. This includes rent, wages and salaries, equipment maintenance, interest payments, utilities, rental, lease or depreciation of office equipment. Essentially, this keeps the business going while they are recovering from the illness or injury.”

Whilst insurance can’t prevent serious illnesses and injuring from happening, it can protect you and your business from the adverse financial effects that comes with these unfortunate circumstances. The business expense insurance premiums are tax deductible when used to protect assessable income but the cover must be chosen carefully. Many insurance companies will state that they provide the best cover at the best value for money but they don’t really have a clue what the business owner actually needs. Steve Culpitt at Arrow provides business expense insurance advice by directing entrepreneurs to the best possible insurance provider that will meet their specific needs and objectives. 

“At Arrow, our mission is to provide leading quality risk and financial advice,” says Steve, who has over 30 years of experience in the financial services industry. “We help our clients find the right business insurance policy and match it with the insurance company that can meet their needs. We protect our clients and their business and everyone who depends on them by helping to find the insurance company of their choice that can and will provide them with income protection and business expenses insurance.” 

Arrow was established in 1999 to provide advice and appropriate insurance solutions for both businesses and individuals. Their main focus is to assist clients with wealth creation and insurance services including business expense insurance, life and accident insurance, and superannuation made simple and individually tailored Wealth Creation strategies. Arrow consultants identify ever-changing financial goals and objectives, and then offer tailored, strategic solutions. Business owners who want to secure their future are welcome to explore insurance options and consultant services at.

This material is not intended to constitute personal advice and must not be relied upon as such. This material is of a general nature only and has been prepared without taking into account your individual objectives, financial situation or needs. You should consider the appropriateness of this material having regard to your objectives, financial situation and needs and consider obtaining independent advice from a licensed financial adviser


Any advice in this website is general advice only. The content has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making a decision about any information contained on this website you should carefully consider the appropriateness of the information in light of your personal circumstances in addition to the information provided in the PDS of the relevant financial product. You should also consider seeking professional advice from your financial adviser.

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