The two main areas of concern for any business owner when it comes to ACC are:
- How expensive the levies are
- Confidence in what level of cover you will have at claim time
The great news is with our ACC specialist advice we can bring solid solutions to both of these questions. You can expect our ACC advice to result in significant savings, but more importantly we bring you guaranteed, pre-agreed levels of cover that don’t require proof of income at claim time. Because as we all know, a self-employed person’s income isn’t always what it seems, and proving it favourably can be extremely difficult.
CAN YOU ANSWER YES OR MAYBE TO ANY OF THE FOLLOWING:
Am I paying private insurance as well as ACC? Isn’t that doubling up?
If you pay for private income protection, in most cases this can be a double up, and at claim time only one provider will pay, not both, even though you have been paying premiums for both.
Am I splitting income with my business partner/shareholder for tax reasons?
Most do this to keep their taxable income under the high tax brackets. However, ACC will only pay you 80% of your declared portion, not 80% of what you are really bring in.
If I claimed ACC tomorrow, would 80% of my declared taxable income be enough to live on?
If ACC pays out only on your declared income after expenses, this can very rarely be enough to survive on. What happens to the mortgage and keeping food on the table? What happens to the business while you are away?
Is my business partner/shareholder rated on the same risk code as I am, even though they don’t do the manual work I do?
If you have a limited company, say you are a builder and your partner does the admin, ACC rates the company as a building company, and therefore you both pay the builder’s rates.
I pay so much in ACC levies, but is there nothing for me if I fall ill?
Illness claims are more common, and are often more long term than accident claims, but most people don’t plan for illness, and are highly exposed.
Most business owners can answer yes to most, if not all of these questions however, we can resolve these issues for you. Our experience tells us that over 90% of business owners we see have need for advice in these areas and didn’t even realise it. Thankfully, we have managed to avoid a real mess at claim time for our clients – but what will your scenario look like at claim time?
If you can’t answer that question with absolute certainty, then we would love to help. Contact Us today to have a free assessment