Business overhead expense (BOE) insurance is a type of disability insurance that's designed to protect your business if you become disabled. With a business overhead expense disability policy in place, the business can continue to operate while you are unable to work.
BOE insurance doesn't replace your personal disability insurance but rather supplements your personal coverage. While a personal disability policy replaces a portion of your own income if you become disabled, BOE insurance covers the expenses your business may incur during your disability.
Typical covered expenses include:
- Mortgage interest or lease payments
- Employee wages
- Business insurance premiums