If a disabled business owner has payroll and business expenses covered, what type of insurance do they likely have?

A disabled business owner with payroll and business expenses covered is likely to have Business Overhead Expense insurance. This type of insurance is specifically designed to help business owners cover their ongoing operating expenses during a time of disability, ensuring that they can maintain essential functions such as paying employees and covering other fixed overhead costs.

Business Overhead Expense insurance is particularly focused on maintaining the operational aspect of a business while the owner is unable to work due to a disability, differentiating it from other types of insurance that may serve different purposes. For example, disability income insurance primarily provides personal income replacement rather than covering business expenses. Business interruption insurance deals with loss of income due to disruptions, not necessarily tied to the owner's personal disabilities, and workers' compensation insurance covers employee injuries and does not cater to business owner's personal disability needs.

Consequently, when a business owner is facing a disability yet still has payroll and expenses covered, it indicates they have taken steps to secure the financial stability of their business through Business Overhead Expense insurance.