Business Insurance in Geelong

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Choose BizCover for Your Geelong Business Insurance Needs

Geelong is home to over 17,000 small businesses as of June 2022, with 1,768 new businesses registered during that financial year1. If you’re part of this number, business insurance could be essential to protecting your small business and helping it grow.

BizCover helps small businesses across Victoria find insurance that suits their business needs. From Tradies and Cafes to Accountants and IT Professionals, we can help you find instant cover online or over the phone in minutes!

“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.”

Stephanie C.

Beauty Salon Operator

Types of Business Insurance in Geelong

Every small business is unique and has unique risks and business insurance needs. BizCover makes protecting your Geelong business simple, with insurance options tailored to thousands of occupations.

Many small businesses in Geelong consider policies such as:

Public Liability insurance*

This covers legal fees and compensation costs if a customer, member of the public, or a supplier claims against you for injury or damage to their property as a result of your alleged negligent business activity.

A Public Liability policy may be mandatory for some Geelong small businesses. You might need a policy to receive certain trade licenses, work with some clients, or lease commercial space.

Even if it’s not required, Public Liability insurance can help you manage the costs of injury and property damage claims made by third parties.

Business Insurance*

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.

Depending on the cover options chosen, a Business Insurance package can help small businesses in Geelong protect themselves against the cost of damaged stock, broken glass, theft, and more!

Professional Indemnity insurance*

This protects you against losses claimed by a third party due to alleged or actual negligence in your professional services or advice. Subject to applicable limits, your Professional Indemnity insurance will meet the associated compensation payable to a third party together with your defence costs (which can include legal costs, investigator costs and expert fees).

Professional Indemnity insurance may be required for some Geelong small businesses to receive a professional license or join an industry association.

Regardless of whether it’s mandatory, you may still want to consider getting a policy. Professional Indemnity insurance can help you respond to claims of negligence, giving incorrect advice, missing deadlines, and other types of professional wrongdoing.

Cyber Liability*

This covers losses from claims arising from data breaches, business interruption and remediation costs following an actual or threatened data breach.

A cyberattack could bring a small business to its knees. Cyber Liability insurance can give small business owners in Geelong peace of mind that if a hack or data breach targets their business, they’ll have the funds and support to get back to business as usual quickly.

Personal Accident and Illness insurance*

This provides a weekly income benefit following an accidental injury or illness once signed off from work by a medical practitioner for a set amount of time.

What would happen if an injury or serious illness left you unable to work? The bills don’t stop just because you need time to recover. A Personal Accident and Illness policy could help you keep the lights on and your business running if you’re injured or fall ill at work, at home or on holiday.

Small businesses in Victoria with one or more employees or apprentices must register for Victorian WorkCover insurance. However, Personal Accident and Illness cover can help protect sole traders who do not qualify for this scheme.

How much does business insurance cost in Geelong?

The cost of business insurance varies depending on several factors. For example, small businesses in Geelong may pay $33/month for Public Liability insurance, the average cost for businesses in Victoria.

Insurers take information about your business into consideration to calculate your premiums. Depending on the coverage you choose, this may include:

  • Your industry or occupation
  • Your business activities
  • Your business turnover and size
  • Who is being covered, and their qualifications
  • The amount of insurance cover your business needs
1. Australian Small Business and Family Business Ombudsmen, Location of Australia’s small businesses by state and territory, accessed 29 Sept 2023.
*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
† Average Premium is based on FY22 and presented as a guide only. It may not reflect pricing for your particular business, as individual underwriting criteria will apply.
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