Insurance for Registered Migration Agents
Policies available to meet requirements of Migration Agents Registration Authority (MARA)
Policies available to meet requirements of Migration Agents Registration Authority (MARA)
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What is insurance for registered migration agents?
Business insurance helps migration agents like you protect your growing migration agency. Depending on the cover you choose, it could help you manage financial and legal costs related to errors and omissions, third-party injuries or damages to client property.
Migration agents must also hold a minimum level of Professional Indemnity insurance to be eligible to provide migration consultation and agency service in Australia. As of September 2019, the minimum amount required is $250,000 under the Migration Act 1958 and Migration Agents Regulations 1998.
You must also be registered with the Office of the Migration Agents Registration Authority (MARA) and are bound by a Code of Conduct which provides that you must maintain this insurance for the period of your registration in accordance with the.
Migration Alliance members receive a discount of on Professional Indemnity policies with BizCover. Contact Migration Alliance for your exclusive discount code.
Why do migration agents need insurance?
Migration agents may need business insurance to meet legal requirements, build client trust and cover unexpected bills.
Meet legal requirements
Enhance credibility
Manage a cyberattack
Pay legal costs if you face a liability claim
Let’s cover your small business on the go
Start a quote to see how much you can save and buy online in minutes.
What types of insurance do registered migration agents need?
We offer a range of policies designed to cover your business, services and employees. Build an insurance package that suits your needs and buy in minutes.
Popular cover types for migration agents:
Migration agents may also consider:
How much does business insurance for registered migration agents cost?
The average monthly cost of business insurance for migration agents is $44 with BizCover. However, the cost of your policies will depend on different factors, such as the services you provide and the size of your business.
Factors influencing cost
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Get cover that works with the risks of your business
Select different cover amounts for each policy listed below.
This is the most you will be paid out if you need to make a claim.
Unsure how much to choose? Think about:
Statutory Profession 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.
Factors influencing cost
Risks of the industry
Cover level amount
Your turnover
Number of employees
Claims history
Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply.
Get cover that works with the risks of your business
Select different cover amounts for each policy listed below. This is the most you will be paid out if you need to make a claim.
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.
How it works – buying online
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How to make a claim online
We’ll assist you through the claims process & manage the claim directly with the insurer.
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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.
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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
You are required to have Professional Indemnity insurance to legally operate a migration agency and provide migration services in Australia. Professional Indemnity insurance is designed to protect you by responding to claims against you or your business for losses incurred as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice.
Besides Professional Indemnity insurance, here are other types of business insurance you may consider for a more comprehensive business protection:
- Public Liability insurance: Working closely with your clients, either at your office or another location, means you could cause mishaps and accidents. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.
- Business Insurance covers you for your contents, stock and premises to protect against fire, storm, theft, vandalism and accidental damage.
- Cyber Liability insurance protects your business against the expense and legal costs associated if your network is hacked and your client’s sensitive information is stolen.
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