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Business solution

Overhead expense: the business stays open while you recover

Your personal income is one thing; the $15,000 in monthly fixed costs of your clinic, shop or office is another. Business overhead expense insurance reimburses them during your disability — and the premium is deductible.

  • Reimburses rent, salaries, loans, utilities
  • Premium deductible for the business
  • Combines with personal disability
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Your needsAt your pace

YOUR REQUEST, MADE SIMPLE

Hello and welcome to Sommet.

Three answers and an advisor calls you back. The rest is optional.

Which coverage interests you?

You:

Business overhead expense

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SOMMET PROTECTIONWhat matters deserves our full attention.
The issue

When the owner stops, revenue drops but costs continue: lease, employees, financed equipment, insurance, accountant. Without coverage, they dip into savings or close — and lose the value they built.

Office towers seen from below

The solution

  1. 1

    Reimbursement of actual expenses

    Up to the insured monthly amount, on proof of eligible expenses, usually for 12 to 24 months.

  2. 2

    Short waiting period

    30 or 60 days: costs do not wait.

  3. 3

    Deductibility

    The premium is generally deductible from business income; benefits are taxable but pay deductible expenses.

  4. 4

    Replacement coverage

    Some policies reimburse a temporary replacement's salary (locum).

Typical case (illustrative)

A dentist who owns her clinic has $18,000 in monthly fixed costs. An $18,000/month overhead policy, 30-day waiting period, 18 months of benefits, lets her keep her team and lease during a one-year recovery — and find her patients waiting when she returns.

Illustrative: amounts depend on proven eligible expenses and occupation. The insurer's illustration prevails.

Who it is for

  • Professionals who own a clinic or practice
  • Owners of a shop, store or office with employees
  • Self-employed workers with significant fixed costs
  • Businesses where the owner is the main revenue producer
Free analysis, no obligation

What does a month of your business without you cost?

The advisor lists your fixed expenses and prices the protection that covers them, coordinated with your personal disability insurance.

Calculate my fixed expenses

Overhead or personal disability: which first?

What is paid
Personal disability insuranceYour personal income (share of net income).
Business overhead insuranceThe business's fixed expenses: rent, payroll, equipment, insurance.
Beneficiary
Personal disability insuranceYou.
Business overhead insuranceThe business.
Duration
Personal disability insuranceLong (to age 65).
Business overhead insuranceShort: 12 to 24 months, time to recover, sell or reorganize.
Tax treatment
Personal disability insurancePremium not deductible; benefit tax-free.
Business overhead insurancePremium generally deductible for the business; benefit taxable, but it reimburses deductible expenses.

Common mistakes

  • 01

    Believing personal disability is enough

    It replaces your income, not the office rent or your assistant's salary. The two protections fill different holes.

  • 02

    Underestimating fixed expenses

    Add up everything due even without revenue: rent, payroll, dues, insurance, equipment payments, accountant.

  • 03

    Ignoring the waiting period

    30 days is typical; make sure your cash flow covers that period.

Points to consider

  • Does not replace personal income: combine with individual disability.
  • Expenses must be documented.
  • Limited benefit period: the goal is to bridge recovery, not fund the business indefinitely.
  • The owner's salary is not an eligible expense.

The solutions presented are for information only and rely on current Canadian and Quebec tax legislation, which may change. Sommet Protection gives no financial, tax or legal advice: the analysis is done by a partner financial security advisor, together with your accountant and legal advisors.

Frequently asked questions

What exactly does 'overhead' cover?

Commercial rent or mortgage, employee salaries (not yours), utilities, equipment loans, insurance, professional fees, operating dues and subscriptions.

Can I buy overhead coverage alone?

Yes, but most owners combine it with personal disability: one protects the business, the other protects the family.

Guide · 11-minute read

Protecting the business you built: the insurance guide for owners and the self-employed

The five risks that close profitable SMEs, and how to fund them for a fraction of their cost.

Read the guide
  1. 8 chapters
  2. 1. You are the most important asset — and the least insured
  3. 2. A partner's death: the scenario that divides families
  4. 3. Disability: three protections, three different roles
  5. 4. The key person worth 30% of revenue
  6. 5. Debts, guarantees and lenders
  7. 6. Tax at death on shares: the founders' file
  8. 7. A health plan for your incorporated company
  9. 8. Where to start

The solutions

Let's talk about your business

A partner SME specialist advisor calls you back for a no-fee diagnosis. Bring your shareholders' agreement and financial statements: the advisor quantifies with you.

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