Business Insurance Package

Business Insurance provides you with protection if your business assets or premises are damaged, stolen or if you sustain financial loss due to  an insured interruption to your business.   

Business insurance usually falls into three categories:  

a) Material damage loss for your physical assets 
b) Financial loss due to business interruption 
c) Personal injury/property damage claims against you 

When it comes to a BizCover Business Insurance Pack, you can combine up to 14 cover options in a single, easy-to-manage policy. Each type of cover is designed to protect against different risks that your business may be exposed to. Some cover options include:

• Building insurance
• General Property insurance
• Contents insurance
• Public Liability insurance
• Glass insurance
• Tax Audit insurance
• Business Interruption

Business Insurance is not mandatory in Australia, but specific types may be mandatory depending on your industry, location, and whether you have employees. Some clients may require you to provide proof of Public Liability cover, which is included in most Business Insurance Packages.

Plus, there is always an element of risk when your run your own business. That’s why many business owners choose a Business Insurance Package. It’s a convenient and affordable way to protect their business premises and contents, against loss, damage or theft, as well as cover against resulting financial loss from an insured interruption to the business.

Every small business is different, with unique risks and insurance needs, from bookkeepers and engineers to tradesmen and nurses. The Business Insurance Package options that make sense for one business, may not make sense for yours. The types and amount of cover you select will depend on the industry your work in, the nature of your business, and your unique business risks.

Business Insurance may be suited to sole traders working in just about any industry.

Every business has risks, regardless of how small your small business might be! A Business Insurance Package could help sole traders manage common risks, like property damage, equipment breakdown and business interruptions.

A Business Insurance Package covers businesses and sole traders working from a home office.

Just because you’re working from home doesn’t mean things can’t go wrong. It may make sense for home-based businesses to have a Business Insurance Package that covers their tools and stock stored in their home and business activities that take place in your residence, such as clients visiting your home office. Plus, many home & contents insurance policies do not cover business activities or assets.

These are a few of the home-based businesses we cover, such as:

• Administrative support services
• Answering & reception services
• Beautician
• Consultants
• Dog walking
• Dog grooming
• Graphic designer
• Hairdresser
• Online shops
• Photographer
• Writers
• Web developer

Public Liability insurance is a standard part of most Business Insurance Packages. If you already have a separate Public Liability policy, you may want to compare that policy to the cover provided by a Business Insurance Package. Bundling your cover may be a convenient and affordable way to protect more parts of your business with a single policy.

If you have a Professional Indemnity policy, you may also want to have a Business Insurance Package. Depending on how you run your business, you may find that both are necessary to protect different parts of your business.

Professional Indemnity insurance provides cover for claims and lawsuits related to actual or alleged negligent act, error, or omission whilst providing your professional service or advice. A Business Insurance Package can protect your business assets (such as owned buildings, computers, tools and equipment, records, and more) and manage unplanned business interruptions.

Many professional service providers (such as accountants, real estate agents, and IT services) may need a Business Insurance Package to help protect their business and assets. If you’re unsure if a Business Insurance Package suits your business, you may want to think about if:

• You own the building(s) that you run your business from
• You wish to protect the contents of your office from damage, loss, or theft
• You rely on electronic equipment (computers, smartphones, tablets, payment readers, printers, etc.) to your business, or tools of trade to do your work
• You want to be prepared for unexpected events that might stop business as usual

Business Insurance Packages offer several cover options that may be suited to your online business. These may include Contents (to protect stock or items of inventory), Electronic Equipment (to protect your computers, printer, tablet, and smartphone), and Tax Audit (to cover accountant’s fees if you are audited by the ATO).

Cyber Liability and Management Liability insurance are not offered as part of a Business Insurance Package, but they can be purchased separately.