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ACC Insurance Alternative

For the Self-Employed:   Would you like to reduce ACC Levies?

ACC have brought in an option called Cover Plus Extra which allows qualifying self-employed workers the opportunity to adjust their cover.

We can show you how to lower your ACC levies, often substantially, and provide cover for both accident and illness.  We are happy to involve your Accountant in any discussions or decision making.


Most business owners and self employed people are automatically put on ACC Cover Plus however that does not necessarily suit most businesses/self employed people.  There is another option, Cover Plus Extra.

Cover Plus is NOT guaranteed. If you are injured, it pays 80% of your income based on the 12 months before your accident, and you have to prove a loss. That means, if you have staff working and generating income for your business while you’re injured, ACC might not pay!

Cover Plus Extra pays even if staff continue to work and generate income for your company. It’s an Agreed Value product where you choose the amount you pay levies on and ACC pay the agreed amount no matter what you earned in the 12 months prior to your accident, but it only covers accident.

We create a plan for you to cover accident and illness as well as saving you money on ACC levies.

Business Insurance can ensure:

  • Your business is still healthy when you or your key person returns to work. Various business costs including wages can be paid (including your own!), lease on premises, marketing; etc can be continued.
  • Allows you to train a replacement if your key person can’t return to work.
  • If you can’t return to work, it protects the value of your business so you still have a saleable asset.

Income Protection

  • A monthly income is paid to you if you can’t work due to illness or injury.

You can support your family, pay your mortgage and maintain your lifestyle if you’re too sick or hurt to work.

ACC Reduction of Levies Example:

John is a plumber and his next year’s estimated earnings he will pay himself is

$130K – $140K pa.

The maximum income figure ACC provides cover on is $106,473.


Annual ACC Levy                                                                              5196.00

Reduced ACC Levy                                                                            1897.00

ACC Saving                                                                                  $3299.00


Business/Income Protection Plan

Business Protection (12 month benefit) (pa)                                      1043.28

$8000 income per month **

Income Protection (to age 65)            (pa)                                          849.36

Total                                                                                             $1892.64


The savings made by reducing to the lower levy on Cover Plus Extra can be applied to a plan which provides for both accident and illness.

**        Business benefit amount can be nominated – $8000 pm above is an example only.

The cover is owned by the business benefiting the owner or key person.

Calculating the sum insured:

Gross Profit (less cost of goods sold) x % of revenue generated by key person, divided by 12 = Monthly Benefit

Cover also incorporates related business expenses; ie employee wages.

A lower amount can also be nominated.

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