Being self employed means you are required to pay ACC levies. Your ACC levies provides you with ACC CoverPlus which provides you with cover for up to 80% of your pre-disability income in the event you are off work due to an injury. It also covers certain rehabilitation costs and medical treatment. The levies you pay are determined by your occupation, your income, your claims history and your proposed risk of claim in the future. 

The main concern for most our clients is if they have a illness or an accident which causes injury thats related to degeneration - ACC won't cover them. So often they end up with a Personal Income or Business Protection cover to ensure they have peace of mind they have cover for both sickness and disabilities. Then comes the question - do I need to pay so much ACC levies?  The answer is no, you have another option called ACC cover plus extra. 

ACC cover plus extra - This benefit offers the same cover as the normal ACC CoverPlus. However instead of paying you on 80% of your pre-disability income, will instead pay you an pre-agreed amount in the event of an injury. This way you know exactly how much you will recieve each week if you are off work due to injury. Choosing this option replaces the normal ACC CoverPlus product.

What are the benefits of ACC CoverPlus Extra?

  • You can tailor the level of cover for lost earnings to suit your own personal circumstances, subject to ACC underwriting.
  • If you make a claim, there is no need to prove your earnings, as the weekly compensation has already been agreed. This means that you may receive your weekly compensation quicker.
  • You will receive 100% of the amount of the agreed lost earnings compensation until you are fit for full-time work.

What is the difference between ACC CoverPlus and ACC CoverPlus Extra?

The key difference is the amount of lost earnings compensation you receive. With ACC CoverPlus Extra you get 100% of the amount you negotiate. Because you have agreed cover, you may begin receiving compensation more quickly.

Whichever option you choose, ACC will provide assistance with treatment and rehabilitation costs.

How do I know if ACC CoverPlus Extra is right for me?

ACC CoverPlus Extra may better meet your needs if:

  • your income fluctuates
  • your personal income is not a true indication of actual earnings
  • your business will still generate income while you’re injured
  • you have not been self-employed for long
  • you want a guaranteed level of lost earnings compensation.

What does it cost?

ACC CoverPlus Extra levies are calculated in a similar way to ACC CoverPlus levies, based on your previous year’s earnings from self-employment and the levy rates specific to your business activity. In addition the levies also take into account the agreed amount of lost earnings compensation. To find out what your specific cost would be - contact us by clicking the below button.