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Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances. In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks.
According to the Australian Bureau of Statistics,1 there are 17, 603 small businesses in Geelong, with 2732 additional new businesses registered in 2018 alone.
The main employing industry is Healthcare and Social Assistance, employing 15.3% of the population. The second largest employing industry is Retail Trade, employing 11.8% of the population, followed by Education and Training and Construction, both of which employ 9.8% of the population.
The sector with the largest amount of registered businesses is Construction, with 3768 businesses registered. Following this is Professional Scientific and Technical services, with 2001 businesses registered, and Rental, Hiring and Real Estate Services, with 1839 businesses registered.
Like all small business owners, they have a responsibility to take reasonable steps for the safety of their customers, suppliers and the community and for their property.
“You guys actually rock. I spoke with Daniel and Matt, and both of them were extremely friendly and helpful in getting quotes and sorting my annoying payment queries. I actually can’t believe how easy the process was and how lovely the team was. Thanks for your help, will 100% be recommending.”
Beauty Salon Operator
On average, small businesses in Geelong pay around $79.43**for their business insurance policy. A business insurance package is arguably important for almost every kind of business, from those that operate in the trades and service industries, to businesses that are predominantly office-based, such as consultancy occupations.
Given the various industries and occupations business insurance can cover, the cost of it can vary greatly. This is due to several factors including: