ACC offer two cover options for self-employed people.
CoverPlus is the standard cover for self-employed and includes 24-hour no-fault cover for work-related and non-work related personal injuries with access to medical treatment, rehabilitation and the 80% compensation for lost earnings. Cover is based on your previous year's earnings and levies are paid based on your tax return. Where you haven't filed a tax return yet you may be entitled to cover based on the cost of living, currently $440 per week provided you are working over 30 hours a week.
CoverPlus Extra is an optional product that lets you (as a self-employed person or non PAYE shareholder employee) negotiate a pre-agreed level of lost earning compensation. This gives you certainty around your compensation should you be injured. This replaces your CoverPlus protection. If you claim there is no proof of earning required and you receive 100% of the agreed lost earning until you are fit for full-time work. This is a great option for those whose income fluctuates, where your income isn't a true reflection of actual earnings, where your business will still generate income while you are injured, if you haven't been employed for long or if you want a guaranteed level of ACC cover.
Ring and discuss these options with us if you want further information. We can assist you to get the best cover for your specific circumstances.