Accident Compensation

Accident Compensation levies are based on your previous years income multiplied by AC rate of for your particular jobs risk factor classification. 
In event of a claim, you are paid 80% of your income over 4 weeks prior to injury; this payment only goes on for 4 weeks. Then, they recalculate on basis using 80% of your income per last tax year end.
 Be warned that ACC are difficult to deal with.
We recommend all new business people buy an Accident Compensation product called “Cover Plus Extra” where you are buying 100% insurance and you apply nominating a realistic annual income level of cover. ACC must accept this amount officially.
One feature of this cover is that even if your business continues to earn income their compensation will remain being paid at the agreed level.


This product applies to any business person whose income fluctuates and also to non PAYE shareholder employees working over 30 hours per week.