The Basics of BOE Insurance

BOE insurance is a type of business insurance that you can purchase in order to protect yourself against overhead expenses if you become disabled for a certain amount of time. "BOE" stands for "business overhead expense" insurance. Here are the basics of BOE insurance.

How It Works

The basic idea behind BOE insurance is that it will pay you a certain amount of money if you are unable to work as the owner of your business. Many small businesses are damaged irreparably when their owners are unable to work for any amount of time. This insurance can provide you money to pay the bills while you are not making any money with your business.

What It Covers

This type of insurance is designed to cover overhead expenses that you might incur while you are out of work. For example, it will pay for rent or mortgage payments, employee wages, utilities, taxes, accounting fees, dues and legal fees. With BOE insurance, you can also get interest and depreciation paid for as well as money for office supplies. Your policy could cover any regular, fixed expenses that your business has. It would not cover variable expenses, such as the cost of ordering products for sale. 

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