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Business Insurance

... from our trusted insurance partners: Compare quotes from our trusted insurance partners*: What's included & what's not? Get the right cover Business Insurance Coverage When looking for cover for your business there are a ...

What is Business Insurance?

... assets b) Financial loss due to business Interruption There are many different types of Business Insurance cover ... and computers. Public Liability Insurance which covers your business against the legal costs of a claim for ...

Business Interruption Cover*

... due to damage to your own premises as a result of an insured event Additional costs of working What's typically not covered by Business Interruption insurance? This is an overview of some of the key things that your ...

Theft Cover*

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Business Insurance in Toowoomba

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How much does Business Insurance cost?

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Business Insurance In Wollongong

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Business Insurance in Melton

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Business Insurance in Mackay

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Business Insurance in Bunbury

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Business Insurance on the Gold Coast

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Business Insurance on the Central Coast

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Business Insurance in Parramatta

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Business Insurance in Bundaberg

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Business Insurance in Launceston

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Business Insurance in Cairns

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Business Insurance in Geelong

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Business Insurance in Townsville

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Business Insurance FAQs

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Common small business insurance claims and how to prevent them

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Money Cover*

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Business Insurance the Smart Way

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Machinery Breakdown*

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Goods in Transit

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No Dramas

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Statutory Liability*

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Employment Practices Liability

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Portable Equipment*

... what’s not Things to consider Back to Business Insurance Portable Equipment* Portal Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment associated ...

What are business assets? Types, properties, valuation, importance

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Do online businesses need insurance?

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6 areas you may not have thought business insurance covers

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The bricks and mortar of building insurance cover – what you need to know

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What does Professional Indemnity Insurance cover?

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The risky business of insurance

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A practical guide to understanding business insurance

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7 Common Types of Small Business Insurance

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Comparing Portable Equipment & Electronic Equipment Cover

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Insurance for Marketing Consultants

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Understanding Insurance for Retailers

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Understanding Insurance for Mortgage Brokers

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10 step guide to start an online business in 2023

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How to improve cash flow and increase profit margins in your trade business

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How to adapt your business insurance as your business grows

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Business Insurance Perth

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Dishing up the facts on food business insurance

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A sole traders and freelancers guide to business insurance

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7 surprising ways business insurance can help your company

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Insurance for Tradesmen

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Inflation puts SMEs at risk of insurance gaps, says expert

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Insurance for Hair & Beauty Services

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Insurance for Psychologists

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Insurance for the Self Employed

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14 tips for managing your business cash flow

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Insurance for Restaurants & Cafes

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Aussie small businesses at risk of underinsurance

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5 Surprising Things Business Insurance Can Cover

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Finding the right business insurance can be hard but BizCover makes it easy

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5 things to consider when purchasing business insurance

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Insurance for Consultants

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How to start a fencing business in Australia

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Insurance for Cafes

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Home Based Business Insurance

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Small Business Insurance: Why you might want to ensure you’re covered!

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What are the Insurance Options for Land Surveyors?

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5 questions to ask yourself before buying Insurance for your small business

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4 steps to creating a financial plan for your business

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Insurance for Civil Engineers – what you need to know

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What risks do consulting businesses face?

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How to choose a business location: 4 factors to consider

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Insurance for Convenience Stores

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Insurance for Furniture Manufacturers

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Insurance for Electrical Engineers

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Insurance for Real Estate Agents

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The Remaining Risk: What Isn’t Covered and Why it Matters

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What does Public Liability Insurance cover?

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What hospitality businesses might consider when cutting costs

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Business Interruption Insurance: Your 'Get Out of Jail Free' Card

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Does Public Liability insurance cover employees?

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The Reality of Retail- Real Life Claims and How Business Insurance can Help

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Insurance for Car Wash and Auto Detailers

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Does your lash business need salon insurance?

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Tax Audit Insurance

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How the cost of Professional Indemnity insurance is calculated

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Public Liability Insurance In Hobart

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How much does Professional Indemnity Insurance Cost for Real Estate Agents?

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Spring Clean Your Salon’s Business Insurance

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Insurance for Project Managers

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Protect your business with Statutory Liability Cover

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Business Insurance Guide for the Self-Employed – Part 4

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Business Insurance Guide for the Self-Employed – Part 3

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Personal Accident and Illness Insurance

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Debunking insurance myths – common insurance misconceptions

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Reviews related to Business Assets Insurance Cost

I'm happy to get my business to get cover.

Koneferenisi M
Carpenter/Carpentry Services
Very happy with the process and follow up from BizCover. Pleased to have my business with this cover in place.

Graeme C
Management Consulting Service
Was easy enough to change levels of cover, compare conditions and then contract the insurance cover I wanted.

Soner B
Information Technology Services (IT)

What’s included & what’s not?

Get the right cover

Business Insurance Coverage

When looking for cover for your business there are a range of business insurance products that can provide financial cover for your business, some main types of coverages include:

Public Liability insurance
Professional Indemnity insurance
Business Insurance

A business insurance pack can provide cover for your business premises and contents, against loss, damage or theft as well as cover against any resulting financial loss from an insured interruption to the business. The type of business insurance and amount of cover you select will depend on the nature of your business and what areas you think you are the riskiest for you. Pick and choose the right business insurances that will suit you best. And you can include Public Liability Insurance to ensure you are not financially responsible for the costs of a legal claim should a third party get injured or suffer property damage whilst you are doing business.

What is typically covered by Business Insurance?

A) Material damage loss for your physical assets
B) Financial loss due to Business Interruption

What is typically not covered by Business Insurance

Negligence/breach of duty arising from an act, error or omission as a result of your professional services
Flood damage is generally excluded from standard policies
Known claims and circumstances

Industries that may require Business Insurance

Across Australia there are many different types of small businesses that help the economy going, from personal trainers to IT wizards, coffee shop owners, cleaners and the trusty tradies. While your day to day operations as a business may be different, there is always an element of risk when your run your own business. This is a snap shop of some of the typical type of businesses that may require business insurance.

Get the right type of Business Insurance

Your business may be considered ‘small’ but it’s big to you and big to us. That’s why we want to make sure you have the right protection. We offer various cover options to suit a variety of businesses.

For some types of businesses, business insurance may be a requirement, for example:

You may need to have your own Public Liability insurance sorted before you step onto a construction site
If you work on contracts you may be required to have a minimum level of Professional Indemnity insurance in place
If you are renting your business premises, your landlord may require you to have your own Public Liability and in some instances Glass cover sorted

Business Insurance Fact Sheet

Compare Business Insurance quotes

Frequently Asked Questions on Business Insurance

What is business insurance*?

Business Insurance provides you with protection if your business assets or premises are damaged, stolen or if you sustain financial loss due to an insured interruption to your business.

Business insurance usually falls into three categories:

a) Material damage loss for your physical assets
b) Financial loss due to business interruption
c)Personal injury/property damage claims against you

When it comes to small business insurance, there are multiple coverage options to select from. Each type of cover is designed to protect against different risks that your business may be exposed to. Some of small business Insurance coverage options include:

Building Insurance* which covers you for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind).

General Property Insurance* which covers against theft and accidental damage of equipment, such as tools, laptops and mobile phones, while you are away from your office.

Office Contents Insurance* which covers you against burglary, theft and accidental damage of office equipment such as chairs, desks and computers.

Public Liability Insurance* which covers you if a third-party claim that your negligent business activities caused them injury or property damage. This includes defence costs cover.

Glass Insurance* which covers you for damage to internal and external glass, mirrors, porcelain and signage at your business premises.

Tax Audit Insurance* which covers fees of any accountants engaged in connection with an audit by the Australian Taxation Office.

Business Interruption* which covers you for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire).

How much does business insurance cost?

Business Insurance is a packaged solution designed to protect your business from property, business and liability risks. There are different coverage options available under a Business Insurance pack, sometimes referred to as a Biz Pack.

The great thing about small business insurance is that you can select the type of coverage that is tailored to the needs of your business. Different businesses require their own unique forms of cover to protect them from the unique risks of their industry. For example, the types of risks a restaurant owner faces will be different to a dog groomer.

A common question SME operators ask is, “How much does Business Insurance cost?”. Unfortunately, there’s no one-price fits all answer. Some of the factors that can influence the cost of a Business Insurance policy include:

the type of cover and cover options taken
the nature of your business
the value of the property insured
where your business is located
the number of employees you have
your annual turn over
claims history

Have a chat to our BizCover sales team about the different kinds of Business Insurance we have available from some of Australia’s leading insurers to get an accurate cost of your Business Insurance policy.

Why do Home Based Businesses need insurance?

While your office space may not the typical set up, just because you are working from home doesn’t mean that things can’t go wrong. Regardless of the type of work you are doing from marketing to managing an online store, different occupations each come with their own level of risks.

These are some examples of the type of home-based businesses we cover:

Administrative support services
Answering & reception services

Beautician
Consultants
Dog walking
Dog grooming
Graphic designer

Hairdresser
Online shops
Photographer
Writers
Web developer

Common types of insurance for home based businesses

Public Liability*

One of the basic insurances to consider is Public Liability insurance. 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 are injured or sustain property damage as a result of your negligent business activities.

If you have clients visit your home based office or you visit them off site do you have protection in place if you were to accidently cause injury to them or damage to their personal property?

Cyber Liability*

Consider the outcomes if the client data you have stored was compromised. The impact could be destructive to your business. Cyber liability insurance is a type of business insurance product, which protects your business against both the legal costs and expenses (including compensation payments) related to cybercrime incidents. Your coverage may generally include cover for expenses and legal costs relating to the following:

Data breaches
Theft or loss of client information
Business interruption costs

Forensic investigation
Data recovery
Extortion
Fines and penalties
Crisis management costs (to restore your businesses reputation after an attack or data breach)

Legal costs from any ensuing civil action taken against you or your company

Personal Accident & Illness*

Being self-employed, means you need to ensure you have protection for your most important asset, you. This is where Personal Accident and Illness insurance comes into play, especially when you don’t have access to sick leave. Personal Accident and Illness insurance can provide cover should you become permanently disabled or pass away as a result of an accident. Cover can also include a weekly benefit for loss of income if you are unable to work as a result of an unexpected injury or illness (even if it occurs outside of your employment).

If you have purchased sickness/illness cover as part of your personal accident insurance you may be able to claim if you are diagnosed with COVID-19 and that diagnosis results in you being unable to work. Your cover will need to have been in place before you contracted the disease. 

Employment Practices Liability*

Employment Practices Liability (EPL) Insurance is designed to help employers minimise the risk and potential cost of claims taken against them by employees. Covered claims may relate to allegations of discrimination, unfair dismissal and sexual or workplace harassment.

Business Insurance*

Options include (but are not limited to):

Contents*

Having a home based business means there are certain business assets that you will require to perform your day job. Contents insurance provides cover for loss of or damage to items such as business equipment, stock, plant and machinery, records and furniture belonging to you at the insured location.

Portable Equipment*

If you are on the road and need items like your laptop, tools and equipment to perform your profession, then consider protecting your items with Portable Equipment cover.

Portal Equipment insurance (also known as General Property insurance) covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock.

What is the difference between Public Liability and Professional Indemnity insurance?

Public Liability and Professional Indemnity insurance are two fundamental forms of cover that both protect against very different risks. The main difference is the type of duty of care that each cover seeks to provide protection for.

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 are injured or sustain property damage as a result of your negligent business activities.

It also provides protection for legal and defence costs associated with a covered claim.

Professional Indemnity (PI) insurance* provides protection for businesses that provide specialist services or professional advice.  It is designed to respond to claims against your business for losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. PI Insurance will also assist with the legal costs associated with responding to or managing claims which are covered by the policy. 

What is Product Liability insurance?

Product Liability insurance* commonly forms part of a Public Liability insurance policy, providing protection for your business against claims by third parties relating to property damage or personal injury caused by your products. 

The term ‘Product’ is typically defined as anything that has been manufactured, constructed, erected, assembled, installed, grown, extracted, produced, processed, treated, altered, modified, repaired, serviced, bottled, labelled, handled, sold, supplied, re-supplied, distributed, imported or exported by you, or on your behalf. 

Product Liability insurance is designed to support you when your products cause a third party to sustain personal injury or property damage.  Product Liability insurance is intended to cover  compensation payable to a third party and your defence costs (these are the reasonable costs incurred while investigating and defending a covered claim including legal fees, experts fees and court costs). 

Product Liability insurance is there to help you from the moment an allegation of negligence relating to your product is made. 

Always check the limit of cover offered by your policy and any exclusions or geographical limitations.

Prefer to talk?

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Friendly, helpful service from a business insurance professional.

1300 249 268

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* 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.