Business Insurance in Victoria
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Small business cover in Victoria
There are over 701,000 small businesses in Victoria, and business insurance is something that many of them may need to consider.
Business insurance can help shield sole traders, contractors and self-employed businesses from common risks. There are many types of insurance available to small businesses, each designed to protect your business from unexpected bills, such as legal costs, compensation claims, equipment replace or repair, and much more.
What types of business insurance does your Victoria business need?
There are many types of insurance available to small business owners in Victoria. Popular cover types include:
Public Liability in Victoria
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.
Professional Indemnity in Victoria
Covers you for losses claimed by a third party & defence costs due to alleged or actual negligence in your professional services or advice. This includes defence costs cover.
Business Insurance Pack in Victoria
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 Pack can be tailored to suit the specific needs of small business owners. For example, a trade may opt to include Portable Equipment insurance to cover them for loss and damage to items of portable equipment associated with their business, such as their tools of trade and items of stock.
Personal Accident and Illness in Victoria
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.
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15000+ NZ
small business covered
How much does business insurance cost in Victoria?
Business insurance costs an average of $65 per month* for Victorian businesses insured through BizCover.
However, prices do vary based on several factors, such as:
- The different cover options you select
- Your business annual turnover
- The size of your business
- The limit/ amount of coverage that you require for your business
- Your claims history
- The location of your business
- The nature of your business activities
Building Cover
$116/mo*
Expected average cost
Contents (Property) Cover
$57/mo*
Expected average cost
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on FY24 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply. 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.
Click here to check industry wise average prices
Get cover that works with the risks of your business
Select different cover amounts for each cover listed below.
This is the most you will be paid out if you need to make a claim.
Building Contents, and Business Interruption
Up to $3M combined cover
Tool Cover
Pick cover for the value of your tools
Customise your cover up to $1M
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
Why choose BizCover for your Victoria business insurance
Built for small business
We know insurance and what makes small businesses tick
Clear and competitive pricing
You can compare and choose from a range of highly competitive prices right there on your screen. Seriously.
Cover to match your needs
You can tailor policies from selected Australian insurers to suit the needs of your business, and we are there to help!
Real people adding real value
Our friendly service team is on hand and on a mission to make you smile!
How it works – buying online
5 easy steps to get instant cover online today
Select Profession
Pick Your Covers
Add Business Details
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Get Covered Online
5 Steps to get your biz insured:
- Enter Occupation
Search & select your occupation
- Choose Cover(s)
Select the cover you need
- Business Details
Tell us about your business
- Compare Quotes
Compare prices & select quotes
- Get Cover Today
Instant policy docs to your inbox.
How to make a claim online
We’ll assist you through the claims process & manage the claim directly with the insurer.
Let us know Fill out our
claims form and provide info
to support the claim
Receive extra support We
will assist you with your claim
Claim results We will notify
you of the claim outcome.
3 Steps to get your biz insured:
- Let us know
Fill out our claims form and provide info to support the claim.
- Receive Extra Support
We’ll assist you with your claim.
- Claims Results
We’ll notify you of the claim outcome.
See how much others have saved while purchasing policy through BizCover
Colette
Disability Care Worker from
NSW
Saved
$1,200
on
Public Liability and Professional Indemnity insurance
Andrea
Beautician from
VIC
Saved
$1,500
on
Business insurance Pack and,
Public Liability and Professional Indemnity insurance
Deborah
Cleaner from
VIC
Saved
$3,600
on
Public Liability insurance
Lance
Electrician from
ACT
Saved
$800
on
Public Liability insurance
Stephen
IT Professional from
VIC
Saved
$1,500
on
Information Technology Liability insurance
Linda
Restaurant owner from
NSW
Saved
$1,000
on
Business Insurance Pack and
Public Liability insurance
^ Savings made from January 2024 to April 2025. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
Frequently asked questions
Maybe. If you meet with clients in-person (whether in your home office, their office, or at a third-party location) you could potentially injure them or damage their property. A Public Liability policy can help you manage these types of claims made against your home-based Victorian business.
BizCover makes it simple to sort your business insurance in as little as 10 minutes! Just answer some questions about your business, compare quotes from selected leading Australian insurers, and buy online or other the phone. You’ll be covered instantly, with policy documents emailed right to your inbox.
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