The Accident Compensation Corporation (ACC) is New Zealand’s biggest Insurer. Although ACC only provides cover for accidents and injuries it does fill a very important role in our lives. However, many of us view ACC in a somewhat negative light because all we seem to get from them are the levies.
Here we look at some of the good points that come from paying those levies and touch on how businesses, shareholders and those self-employed could save money.
We hear time and time again from individuals that they have never claimed on ACC, but the fact is that there are very few people in New Zealand that have not claimed or have friends and family that have.
- Anytime your child has an accident and requires medical attention, ACC is picking up the bill, or a portion of it.
- Anytime you see a Physiotherapist, Osteopath or Chiropractor due to injury, ACC is helping with the cost of the treatment.
- Any surgery, hospital and rehabilitation costs that due to an accident or injury are either being paid for or heavily funded by ACC.
- ACC even provides a type of Life Insurance if a family’s primary income earner passes away because of an accident or injury.
ACC handles around 143,000 claims every month. So that money you pay in levies is being put to good use.
Often though, when you run a business, the ACC levies can become excessive. There are however a range of discount schemes and options of cover that ACC provide for businesses, business owners and those self employed to bring levies down.
At Risk Solutions, this is an area we specialise in and can help to structure your ACC correctly – often resulting in substantial savings each year. For a no obligation review of your ACC, please get in touch with us.
