Business Insurance

What is business insurance?

A business takes years to build – but an accident or disaster could destroy it all in minutes. That’s why businesses should help protect themselves with a quality business insurance pack.
With the right cover in place, owners can run their business with confidence, knowing that their premises, stock, equipment and reputation are protected by insurance.

Who should consider it?

Business owners can benefit from taking out an affordable and comprehensive business insurance pack to help protect them against the main risks involved in running a business.

“Having the right insurance will help protect your business and minimise its exposure to risk. This may include insuring your business, your income and your commercial risk.”

Department of Innovation,
Industry and Science, 2018

Did you know?


The cost of natural disasters to Australian business, government and communities is estimated to reach $33 billion by 2050.

(Australian Business Rountable, The
Economic COst of the Social Impact of Natural Disasters, 2016)


According to Inside Small Business, only
16% of SMEs have a financial back-up plan
in place, while 35% said they’d need to
cut spending and limit their lifestyle if
they were unable to work.

(Inside Small Business, ‘Seven insurance issues small-business owners should consider in 2017’, 2017)


Sole traders were the least likely of
businesses to be insured, (24%), followed
by small businesses operating from home

(ICA, Non-insurance in the Small to
Medium Sized Enterprise Sector, 2015)

What can it cover?

Business insurance packs can offer general protection for a business, which may include cover against:

Type of CoverPotential benefits
Property DamageRepair or replacement of property damaged.
Business interruptionLoss of trading profit following insured damage to property and additional costs and expenses incurred during a claim.
TheftRepair or replacement of property stolen.
MoneyLoss of money.
Public or products liabilitythe costs involved in defending a claim triggered by the policy.
GlassFor replacing glass inside or outside your premises, including your shopfront windows, mirrors or display cases.
TransitFor stock that is in transit on the road, in the air or by sea.
Electronic equipment breakdownFor repairing or replacing electronic equipment that breaks down.
Machinery breakdownCover for costs associated with machinery breakdown.
General propertyTo cover your tools of trade, including laptops and tools that you use for your profession or trade.
Tax auditTo cover the costs of being audited by the ATO.
Employee dishonestyDirect financial loss of the business caused by the dishonest or fraudulent conduct of an employee which is first discovered during the period of insurance.