ACC have a plan that allows self-employed people and non PAYE shareholder employees to negotiate the level of compensation (subject to ACC approval) called ACC Cover Plus Extra. This allows you to dial down your cover (or increase it if required) and you won’t need to prove your earnings when making a claim, which is required with the standard ACC plan.
ACC Cover Plus Extra can be really beneficial in the following circumstances:
You have your own income protection insurance policy and are also paying ACC
You have two owners (one not very active) in your business paying ACC on a high level of income
Your income fluctuates and you would like a steady amount of cover
You’ve just started out in business and want to be covered from the start (before you have an earnings history from your business)
Clients are welcome to contact us about this, or alternatively the ACC have more information available on their website www.acc.co.nz.
