Business Owners often struggle with their ACC bill. For many, this is an expense that they do not particularly enjoy paying, and it is another expensive cost when it comes to operating businesses.
So what can be done about ACC? Are there alternatives or ways of getting rid of the ACC bill? ACC is a complex area, with different types and matters to think about; it’s important to get adequate help and be careful.
CoverPlus Extra – “Agreed Value”
There is an alternative to the standard “ACC CoverPlus”, and that is “ACC CoverPlus Extra”. So what ‘extras’ does “Extra” offer, you may ask?
The key area is that this is typically an agreed sum assured, meaning that you have less of a worry of claiming, proving, substantiating, etc. your income at claim time. It can be devastating to think that at claim time, you’d have to get your paperwork together to prove yourself on an ACC claim, being even more challenging as a self employed person.
By choosing CoverPlus Extra, you may also be able to reduce your cover, thus may reduce your ACC bill. However this is a complex area that has its pros &cons, and should be considered carefully, and you should consider getting specialist advice.
Private Insurance – That also covers you for illnesses and medical matters
One key limitation of ACC is it covers for ‘accidents’. Accidents only make a proportion of all challenges a person can face. It’s also important to consider illnesses and medical reasons why you might be off work long term.
In New Zealand there are a number of key insurers who are offering this type of protection.
It is possible to have private insurance which covers you, by way of a carefully chosen and effective income protection policy. Such policies can work in conjunction with, or compliment, ACC. It can help expand your cover to be insured for more types of risks. Many people find this to be more meaningful.
Looking for an alternative or enhancement to ACC?
Talk to Just Financial today to learn more about an alternative or enhancement to ACC.
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