Here we are, there’s still more to write about but I feel like this is a good one to introduce myself. Business overhead expense insurance. The CME is very specific about what it covers and what kinds of policies it covers and what their coverage amount ranges from. You see, at the end of the day, the only thing you can really be covered for is yourself. So what does that mean? Well first off, you don’t have the protection of a car accident insurance or a death in the family insurance.
What you spend is not the only thing that matters. There’s a ton of other things that you spend money on. Some of them turn out to be expensive, while some may turn out to be less expensive than what’s on your credit card bill. What you spend on everything else may seem like an expense but in fact it’s probably a bonus, because you’re saving money on something that advances you millions every year. Or maybe your credit score will improve and suddenly your business will be worth more than what you are currently earning.
Business overhead expense insurance is a tool that you can use to lower your business overhead. Basically, it’s a way to protect yourself against business expenses, without having to pay for professional services. For example, you could have a team of your best employees working on your project while you themselves work on the project.