Business insurance advice tailored to your needs.
Running a business comes with risks, and having appropriate insurance can help protect what you've worked hard to build. We provide practical, personalised advice to help business owners explore their protection options.
WHAT WE CAN HELP WITH
Helping protect your business and its future
Every business is different, and so are the risks it faces. Business insurance can help provide financial support when unexpected events affect your people, operations or ability to continue trading.
At Time Vision, we help business owners understand their options and consider insurance arrangements suited to their business structure, financial commitments and long-term plans.
Key person insurance
Some businesses rely heavily on particular individuals, whether that's an owner, director or employee with specialist knowledge, important relationships or skills that are difficult to replace.
Key person insurance can provide financial support to a business if an insured individual dies or experiences a covered illness or disability. Depending on the policy and circumstances, this could help manage lost revenue, recruitment costs or other financial pressures.
We can help you identify key people within your business, assess the potential financial impact of losing their contribution and explore appropriate insurance options.
Shareholder protection
If a business owner or shareholder dies or becomes seriously ill, it can create uncertainty about the future ownership and management of the business.
Shareholder protection insurance can help provide funds to support the transfer or purchase of an affected owner's shareholding, where appropriate arrangements are in place.
We can help business owners consider how insurance might support their succession plans, alongside any shareholder agreements and professional legal advice.
Business expenses insurance
If you're a business owner who is unable to work because of illness or injury, your business may still need to meet ongoing expenses even when revenue is affected.
Business expenses insurance can help cover eligible fixed operating costs, such as rent, utilities and certain staffing expenses, during a covered period of incapacity.
We can help you consider which expenses may need protecting and explore options that reflect your business's financial commitments and circumstances.
Business debt protection
Many businesses rely on lending to fund equipment, premises, expansion or day-to-day operations. These financial commitments can become more difficult to manage if a key business owner dies or experiences a serious illness.
Business debt protection arrangements may use life or other risk insurance to provide funds that can help repay or reduce outstanding business debt following an insured event.
We can help you assess your business's financial obligations and consider how insurance may fit into your broader risk management arrangements.
FREQUENTLY ASKED QUESTIONS
Common questions about business insurance
What types of business insurance should I consider?
The types of insurance worth considering depend on your business structure, industry, financial commitments and reliance on particular individuals.
For example, key person insurance may be relevant where the business depends heavily on one person's contribution, while shareholder protection can help address ownership succession risks.
A financial adviser can help you assess your circumstances and explore suitable protection options.
Is business insurance different from personal insurance?
Yes. Personal insurance generally focuses on protecting individuals and their families, while business insurance can help address financial risks affecting a business, its owners and its operations.
Some types of cover, such as life or trauma insurance, can be arranged for business-related purposes. However, the ownership, intended use and structure of the policy may be different.
It's important to understand how each arrangement works and what it is intended to protect.
Does my business need key person insurance?
Key person insurance may be worth considering if your business relies heavily on an owner, director or employee whose absence could create significant financial difficulties.
This could include individuals responsible for generating revenue, maintaining important client relationships or providing specialist expertise.
The need for cover depends on how your business operates and how it would manage if that person were no longer able to contribute.
Can business insurance help with succession planning?
Certain insurance arrangements can help business owners plan for unexpected events that affect ownership or control.
For example, shareholder protection insurance may provide funding to help facilitate the purchase of a deceased or incapacitated owner's shares, where the appropriate agreements are in place.
Insurance is only one part of succession planning, so it's important to consider it alongside legal and other professional advice.
How much does business insurance cost?
The cost depends on the type and amount of cover, the people being insured and factors such as their age, health, occupation and the insurer's underwriting requirements.
The appropriate amount of cover will also depend on your business's financial circumstances, commitments and potential risks.
At Time Vision, we can help you explore available options and consider how premiums fit within your business's budget.
OUR PROVIDERS
We work with a range of insurance and lending providers
Let's talk about your needs
Whether you're reviewing your insurance or exploring lending options, the Time Vision team is here to help.
PO Box 84-237
Level 1, T88 - Northwest Shopping Centre, Fred Taylor Drive, Westgate, Auckland, New Zealand
Our services
Personal insurance
Business insurance
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Commercial & business lending
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Important information
All Time Vision advisers are members of AdviceQual Financial Advice Provider. Financial advice is provided under the licence held by AdviceQual.
For more information about our financial advice services, including the scope of our advice, how we are remunerated and how complaints are handled, please read our Financial Advice Disclosure Statement.
