Insurance for Finance & Mortgage Brokers
Options available that meet the requirements of Mortgage & Finance Association of Australia (MFAA)
Policies available for ARs and ACL holders
Options available to meet RG210
Options available that meet the requirements of Mortgage & Finance Association of Australia (MFAA)
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Save Money
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Instant Cover
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What is insurance for finance & mortgage brokers?
Insurance for finance & mortgage brokers helps protect your finance business against a variety of risks, ensuring your operations can continue smoothly despite unforeseen events.
Furthermore as a condition of membership, the Mortgage & Finance Association of Australia (MFAA) require professionals to hold a minimum of $2 million Professional Indemnity insurance with at least 12 months run-off.
It should go without saying, comparing multiple competitive quotes from some of Australia’s leading insurers is a smart way to get your finance business covered. Quotes are available with BizCover within a few clicks of a button or a simple phone call.
Why do mortgage & finance brokers need insurance?
Finance and mortgage brokers may need business insurance to meet legal obligations and cover unexpected bills
Meet the requirements of the Mortgage & Finance Association of Australia
Manage cyberattacks
Enhance their credibility
Pay legal costs if you face a liability claim
Who needs finance & mortgage broker insurance?
Business insurance is essential for many types of finance businesses, including financial planning, investment consulting and many more, like
Mortgage broking services
Finance broking services
Home loan sales
What types of insurance do finance and mortgage brokers need?
We offer a range of policies designed to cover your business, services and staff. Build an insurance package that suits your needs and buy in minutes
Popular cover types for finance & mortgage brokers:
Mortgage & finance brokers could also consider:
Let’s cover your small business on the go
Start a quote to see how much you can save and buy online in minutes.
How much does insurance for finance & mortgage businesses cost?
The average cost of business insurance for finance & mortgage brokers is $79 per month* 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.
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 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
Risk 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 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
5 easy steps to get instant cover online today
Select Profession
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5 Steps to get your biz insured:
- Enter Occupation
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- 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.
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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
- Professional Indemnity insurance: Professional Indemnity insurance is important for finance and mortgage brokers, as this policy is designed to protect you and your business from claims made by clients due to losses incurred as a result of your actual or alleged negligence from the delivery of your professional service. Professional Indemnity policies available through BizCover are tailored to meet the requirements of RG210.
- Public Liability insurance. This policy will protect you from financial losses arising from a claim of accidental injury or property damage as a result of you going about your business.
- Business Insurance: This 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 a business interruption in specified circumstances.
- Cyber Liability insurance: A Cyber Liability insurance policy is designed to help protect you from claims and support your profitability in the event of a cyber breach or attack. Some examples of the types of risks Cyber Liability insurance can assist with are inadvertent loss or release of customer personal information, cyber crime, cyber extortion/ransomware and business interruption due to a cyber event.
Hear from our customers
Real-life customer reviews verified by Feefo
Very easy and seamless process. It took me less than 20 mins through BizCover to insure my business whereas I also tried to go through an insurance broker who took 2 weeks and did nothing for me.
Smita K
A great experience.. A policy with detail explanation in 10 minutes – unheard of
Puneet D
So easy, simple and fast
Trudy D
Quick, Easy, Great
Ken A
Site needs to have more user functionality however the service from Bizcover over the phone is top-shelf stuff!!
Justin L
Real-life customer reviews verified by Feefo