ACC Cover Plus Extra

First up, you should also be aware that whether you have business insurance of not, if you’re self-employed, you need to check that you’ve got the right ACC cover from the Accident Compensation Corporation. Failing to do this is a pretty common mistake which can also leave you exposed financially if something happens.

I can help you check out your ACC cover and get it sorted too. There are two different types of ACC – Cover Plus; and Cover Plus Extra:

• ACC Cover Plus is an ‘indemnity’ type of government accident insurance cover. You don’t need to prove what your income is until you need to make a claim.
• ACC Cover Plus Extra is an ‘agreed value’ type of government accident insurance cover. If you are working under the PAYE tax system (Pay As You Earn), you are not eligible for this type of cover. However, if you are a business owner taking drawings, you’ll need to discuss an ‘agreed value’ of cover with ACC for your annual cover. Then, should you need to claim in that financial year, you do not need to prove your income – cover related to it has already been ‘agreed’ under ACC Cover Plus.