Insurance

How to pay for business insurance and earn credit card rewards points

Business insurance is not a ‘one-size-fits-all’ proposition. 

Depending on your industry and how your business operates, there can be any number of insurance products you might need to protect yourself and your assets.

These can be tailored to suit your needs through an insurance provider or a business insurance broker. 

No matter the size of your business, there are some common insurances that many companies take out including building insurance, public liability insurance, professional indemnity insurance, business insurance, business interruption insurance, management liability insurance, cyber liability insurance and tax audit insurance.

These types of insurances can cover you for everything from slips and injuries to employees or customers at your workplace to damage and theft of your products, storm damage bringing your business to a halt and covering you with help from accountants and lawyers if you get called in for a time-consuming tax audit by the Australian Taxation Office (ATO).

The costs of all these insurances can quickly add up, however with pay.com.au you can pay for all types of business insurance using a points-earning rewards credit card. 

Even if your insurance provider or broker does not accept credit card payments or only accepts VISA and Mastercard, we can help you pay your insurance bills with any credit or charge card of your choice.

With low fees and a simple and easy-to-use interface, pay.com.au can help you do business better.

You could be on your way to wonderful LA in no time.

So just how does pay.com.au work for paying business insurance with a credit card? 

Insurance providers will normally invoice your business on a monthly or yearly basis, depending on the type of insurance and which option you select.

Many providers might let you pay with VISA or Mastercard, but true points collectors know that American Express credit and charge cards are where you can really rake in the rewards points to help get you on your way to a well-deserved holiday. 

With pay.com.au, you can still pay these invoices with a credit or charge card. 

You pay us and we will promptly pay your insurance provider on your behalf.

We have the lowest processing fees on the market – starting from just 0.62% after potential tax savings.

Along with giving you the ability to earn the highest number of rewards points possible on your business insurance, by paying with a credit card you could also enjoy up to 55 days interest free to help manage any short-term cash flow issues.

The benefits of using pay.com.au can be quite wide-ranging.

How quickly does my insurance provider receive funds after I make a payment at pay.com.au?

The timing between a credit card payment made by you for insurance through pay.com.au and receipt by the payee is typically only T+2 days.

Settlement processes of the card schemes and banks largely dictate this time, however we are working on implementing a same-day payment solution in the future.

How many points can you earn paying for business insurance with a credit card?

This depends on how many insurance products you have and what type of business you are in. 

However, for many businesses annual insurance costs are many thousands of dollars. 

With the right business credit card you can earn up to 1.25 points per dollar spent on any and all insurance payments made through pay.com.au

At that rate, $86,720 of insurance payments could have you on your way to Los Angeles, United States flying Business Class on Qantas. 

Don’t have a high points-earning business credit card? 

Sign up to one of our well-priced subscription services and we can even help you pick the best card for your business to maximise your rewards.

We can even help you find and book the sometimes elusive First Class and Business Class rewards seats to help get you on your way.

What else can you use pay.com.au to pay for?

We don’t just allow businesses to make credit card payments for insurance.

We can also process payments to contractors and consultants or assist in making rent payments or buying business equipment. 

You can even use our service to make payments for employee superannuation and pay ATO bills.

How do I sign up?

It’s easy.

Just head to pay.com.au and follow the prompts to sign your business up.

You too could soon be joining our growing number of very happy customers flying at the pointy end of the plane.

Author: Chris Cavanagh