Business Building And Contents Insurance
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What is Business Insurance?
... cover. Building & Contents Insurance Building insurance provides cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind). Contents covers your business contents or ...
read moreBusiness Insurance
... costs cover. Building & Contents Building insurance provides cover for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind). Contents covers your business contents or stock ...
read moreBusiness Insurance FAQs
... ? How much does professional indemnity insurance cost for Real Estate Agents? What is Business Insurance? What is Building & Contents cover? What is Glass cover? What is Business Interruption cover? What is Theft ...
read moreCommon small business insurance claims and how to prevent them
... some of the most common BizCover Business Insurance customer claims, and tips on how to prevent them. ... Firstly, making sure there is adequate lighting outside and/or inside the building after hours can go a long way in ...
read moreNo Dramas
... in your professional service or advice. Business Insurance*: Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises as well as other cover ...
read moreTheft Cover*
... Business Insurance Theft Cover* This option can cover your contents and stock from theft, attempted theft or armed hold up. It is not uncommon for theft insurance ... contained in a locked building Documents, patterns, models ...
read moreMoney Cover*
... to Business Insurance Money Cover* Money insurance protects your business money (which will include not only cash and ... typically covered? Business Money in transit Business Money in your building/s Business Money in ...
read moreGoods in Transit
... who is driving the vehicles used to transport the goods you buy and sell? Are they sufficiently skilled and experienced? ← Back to Business Insurance *As with any insurance, cover will be subject to the terms, conditions ...
read moreEmployment Practices Liability
... ’s not Things to consider Back to Business Insurance Employment Practices Liability Cover* Employment Practices Liability (EPL) Insurance is designed to help employers minimise the risk and potential cost of claims taken ...
read morePortable Equipment*
... Business Insurance Portable Equipment* Portal Equipment insurance (also known as General Property insurance) covers you for loss and ... following forcible and violent entry to locked vehicles or locked buildings; Theft of ...
read moreBusiness Insurance in Bunbury
... our trusted insurance partners: Business I nsurance * for Small Businesses in Bunbury Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance on the Gold Coast
... our trusted insurance partners: Business insurance* for Gold Coast Small Businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance on the Central Coast
... our trusted insurance partners: Business I nsurance * for Central Coast businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance In Wollongong
... our trusted insurance partners: Business insurance* for Small businesses in Wollongong Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance in Townsville
... or thousands of dollars to fix. 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 ...
read moreBusiness Insurance in Toowoomba
... our trusted insurance partners: Business I nsurance * for Toowoomba small businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance in Parramatta
... our trusted insurance partners: Business insurance* for small businesses in Parramatta Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
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... from our trusted insurance partners: Business I nsurance for Newcastle businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreBusiness Insurance in Melton
... from our trusted insurance partners: Business I nsurance * for Melton businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreBusiness Insurance in Mackay
... from our trusted insurance partners: Business Insurance for small businesses in Mackay Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance in Launceston
... our trusted insurance partners: Business Insurance* for Small Businesses in Launceston Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises ...
read moreBusiness Insurance in Geelong
... 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 ...
read moreBusiness Insurance in Cairns
... from our trusted insurance partners: Business Insurance* for Cairns businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreBusiness Insurance in Bundaberg
... from our trusted insurance partners: Business Insurance* for Bundaberg businesses Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreBusiness Insurance the Smart Way
... buy cover that suits all kinds of start-ups and small businesses - over 6,000 occupations. BizCover instantly provides multiple insurance quotes online and you can select and purchase the right cover, at the right price ...
read moreHow much does Business Insurance cost?
... risks all in one package. There are several different cover options available under a Business Insurance pack to protect things like your business premises, contents, stock and equipment, as well as financial loss due to ...
read moreBusiness Interruption Cover*
... ’s not Things to consider Back to Business Insurance Business Interruption Insurance Most small business owners like to prepare for unexpected events by insuring their premises, contents or stock. But have you thought ...
read moreMachinery Breakdown*
... Things to consider Back to Business Insurance Machinery Breakdown* This insurance covers the cost to repair ... are not covered by an insurance policy such as those related to wear, tear and gradual deterioration or a lack ...
read moreStatutory Liability*
... & what’s not Things to consider Back to Business Insurance Statutory Liability* Statutory Liability insurance covers the company, senior management and employees for allegations of wrongful breaches of key legislation ...
read moreAm I Covered? Theft Insurance vs Building & Contents
... is an optional cover available through a Business Insurance Pack. Do Building and Contents policies cover theft? You may have Building or Contents cover (or both) as part of your Business Insurance Pack. If so, you might ...
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... as a shelf that was on the wall collapsed and subsequently damaged the products she had displayed on it. “Thankfully my Business Insurance policy included building and contents cover”, says Sarah. She lodged a claim ...
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... related activities, either at the workplace or at another location. Business Insurance Tailored cover to protect your building and contents: for material damage losses suffered from an unexpected event like fire, theft ...
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... and tools to your commercial buildings and their contents. Business Insurance ... Insurance? Built for small business We know insurance and what makes small businesses tick. Clear and competitive pricing You can compare and ...
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... reduce their risk Discover online business insurance policies to compare competitive insurance quotes for your online business, get covered in only 10 minutes, and get back to building your business. If you prefer to ...
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... complex calculations. AI challenges Your insurance may not cover you - ... business needs. It may take research and a bit of trial and error to find the right AI tools for your small business. Building a Better Business ...
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... business by learning essential skills, and applying them to small-scale projects first. With that, you can build ... to closure. Evaluate your business’s specific risks and consider insurance options like Cyber Liability , ...
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... choose BizCover for your Professional Indemnity 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 ...
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... insurance* for earthmoving businesses , including Public Liability Insurance . Get earthmoving insurance online or call 1300 920 864 to discover how we can help your business. This information is general only and ...
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... business. Inviting guest bloggers to write content for your website, and post links on their website is another fairly simple way to develop the link building ... website needs to be built adaptive and responsive. This allows ...
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... building in the event of damage caused by fire, storm, malicious activity or another defined event listed in the policy. Contents insurance: Covers for damage to items such as business equipment, records and furniture ...
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... fires Never leave cooking equipment unattended Business Insurance can act as a safety net to protect your business building and assets. Here are a few types of cover to consider: Contents – could you afford to replace ...
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... business have happened, make sure you get in contact with your insurance provider to update the details. Some of the top things to keep in mind when going over and reviewing your policy. If you have Building or Contents ...
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... , you may find it beneficial to consider policies such as Contents , Theft , Building and Business Interruption insurance. Personal Accident and Illness insurance The role of a physiotherapist is to look after others ...
read moreHow much does Public Liability Insurance Cost?
... The type and nature of your business Your business turnover and size The amount of insurance cover your business needs Other ... they are often required to clean office buildings and public spaces, such as shopping centres, ...
read more6 areas you may not have thought business insurance covers
... less than you think. As with all the other cover options offered through Business Insurance if you make a claim on an underinsured building, (perhaps you were hoping to saving on some premium) the insurer could discount ...
read moreFinding the right business insurance can be hard but BizCover makes it easy
... fees Known claims and circumstances Fraud and dishonesty Business Insurance* Business Insurance * is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when ...
read moreInsurance for Roofers
... to help protect the buildings you do business from against events ranging from wild weather to vandalism. Contents* Contents Insurance covers you for damage to your contents, stock and due to fire and other perils listed ...
read moreInsurance for Restaurants
... in the prep area. Business Insurance* Even though you can't insure the ambiance you have created in your restaurant, you can insure the building and all its contents: Building* -This type of insurance provides cover for ...
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... owners to understand what they’re getting when they buy insurance. When you buy business insurance to cover your commercial building or your contents and stock, you’re entering into an agreement with the insurer. The ...
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... biggest assets. Building insurance will cover for loss and damage to buildings you own as a result of an insured event (such as fire, storm, wind). Contents* - Provides cover for loss of or damage to business and kitchen ...
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... and drink you sell. A Business Insurance Package * can help you protect the building you work in and just about everything inside: Building - If you own the building ... contents and stock as well as damage to your business ...
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... creative with social media has become easier for small businesses with platforms such as TikTok and Instagram. Posting consistently with engaging content with your users may build trust with them as it may reassure them ...
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... what you know; it's also about who you know - and how you can help each other. Protect what you are building with business insurance* As you work on building up your client base, take a moment to consider the longevity ...
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... as a result of your negligent business activities. Business Insurance* Business Insurance is a package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event ...
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... family about the great experience. This is the key to building a strong customer base , which usually leads to a sustainable and profitable small contracting business . But as you may be aware, this is easier said than ...
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... of the types of Business Insurance coverages to consider include: Contents and stock* - Cover for loss of or damage to items such as business equipment, stock, plant and machinery, records and furniture belonging to you ...
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... dedicated online destination for small business insurance to compare competitive business insurance quotes for your small business, get covered in only 10 minutes, and get back to building your business. If you prefer to ...
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... ’s main job is to paint and design rooms and buildings to exceed client expectations. The typical ... business insurance. Compare competitive painter and decorating insurance quotes online, get covered in 10 minutes, and ...
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... pizzas in town with Business Insurance . Building - C over for loss and damage to buildings you own, as a result of an insured event (such as fire, storm, wind). Contents - Covers your business contents or stock if they ...
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... social media and building a website, there are countless skills for you to sharpen up. Another hat you may need to put on as a small business owner is figuring out your business insurance. Small business insurance is an ...
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... start when looking for business insurance for your restaurant or cafe business. Other types of business insurance you may consider include Contents , Building , Tax Audit and Cyber Liability insurance. Choose BizCover to ...
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... Contents and stock* - this type of 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. Building ...
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... , let's delve into a range common business insurance questions around contractor insurance and subcontractor insurance for trade professionals in the Australian building and construction industry. Do subcontractors need ...
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... to work with them. Cleaning businesses often consider different types of insurance—like Public Liability , Portable Equipment (part of a Business Insurance Pack ), and Personal Accident and Illness cover—to help them ...
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... net with a Cyber Liability insurance , which provides coverage for legal costs and expenses related to cybercrimes. By adopting comprehensive cybersecurity tools, small businesses also build valuable trust with customers ...
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... Business Insurance Your tools of trade and other business assets help you get the job done, so consider protecting them with coverage options like Portable Equipment* and Contents * Insuring your tools, and your business ...
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... Liability insurance *. It is designed to provide protection for you and your cabinet making business if ... worry. Cover for Portable items Over time you have probably built up a collection of tools that you rely on to help ...
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... Business Insurance Pack * for your IT business. A Business Insurance Pack can be customised to fit your business needs. IT professionals often consider Building, Contents, Machinery Breakdown, Business Interruption, and ...
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... fact, branding is just as important and essential for small businesses as things like small business insurance and budgeting are. Do I need to build a company brand around my business? So, do sole traders, self-employed ...
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... a dedicated and driven insurance professional that strives to make business insurance easy for Australian and New Zealand SMEs. As Head of Product, Channels & Risk at BizCover, Jane is committed to building sustainable ...
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... that can help them protect their business property and more. Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event ...
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... With BizCover, you can compare and choose from multiple insurance quotes, all online and with zero paperwork. Over 220,000 small businesses trust us for affordable, drama-free insurance solutions . Start protecting your ...
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... day on the job. These can include: legal and regulatory compliance; quality and consistency of service; and competition and differentiation. While there are certainly risks, your business insurance arsenal of PI , PL , ...
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... choose from a range of highly competitive prices right there on your screen. Seriously. Built for small business We know insurance and what makes small businesses tick. We won't bore you with jargon We're not fans of ...
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... or lawsuits that come your way. 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 ...
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... help you find competitively priced Building and Contents cover for your small business. We understand the insurance needs of the Australian small business community. Getting your business insurance sorted should be drama ...
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... things crystal clear. No life vest required. When you take out cover for your building, contents and/or stock a Business Insurance policy usually comes with some form of coverage against loss or damage arising from storm ...
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... one of the biggest assets of your business and is one which needs to be protected. Building and Contents* insurance is designed to protect your bricks and mortar and important business assets. You have bought machinery ...
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... these things in the event of damage or destruction. Business Interruption cover: This cover is provided as an add-on to Building and Contents insurance and will provide a certain amount of financial compensation for the ...
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... cost. Beware the Danger of Under-Insurance Owners will sometimes underestimate their business building and contents' value for insurance purposes, in an effort to minimise their premiums and save a few dollars. This is ...
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You've put in the work to build your physiotherapist practice . Now it's time to watch it grow! Marketing can help ... Illness Building and Contents cover Business Interruption In a way, having physiotherapy insurance can ...
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... threats of the summer period is bushfires and storms. This is where Building and Contents insurance is a wise investment for protecting your business in the long run. If your business is located in a fire-prone area ...
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... We don't like big fancy words and forms, just insurance made easy. Find out more about Personal Accident and Illness insurance and other business insurance options for your business today . This information is a general ...
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... these resulting in death from traumatic injury. If you are a self-employed small business owner or a contractor, Personal Accident and Illness insurance is an important type of cover to consider especially if you are not ...
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... afford in operating your business . Having Personal Accident & Illness (PA) insurance covers you for loss ... able to claim $2,800 per week for her time off, and received $44,800 in total, helping her cover her bills whilst ...
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... gives you the power to buy business insurance online in 10 short minutes , we are always happy to discuss the insurance needs of your business with you. Call us anytime on 1300 920 868 and discover how we can help your ...
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... policy is a prerequisite for registration. Contents and stock* A common misconception is that your home contents insurance policy will cover items such as retail stock and any business assets you may have within your ...
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... sooner without leaving you severely out of pocket. 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 ...
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... property. If you work from home, your home and contents insurance policy might not cover all the liabilities related to your business. As an example most home and contents policies do not cover you for bodily injury or ...
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... at this time of year you are carrying increased stock levels. Do you have Business Insurance to cover your stock and contents from theft or damage? And if you do have you considered whether you have enough cover for the ...
read moreReviews related to Business Building And Contents Insurance
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It was so fast and simple to obtain insurance for my small business!! I am a new small business owner and am new to this so I found it easy to use and fast to obtain :)
Ragan M
Allied Health -
Very responsive service and competitive insurance pricing. Thank you Wanda
Wanda B Buza
Registered Migration Agent -
It was easy to obtain quotations and the insurance coverage from BizCover
Terry D
Auditing Services -
One stop shop made it easy to get quotes and finalised insurance policies.
Stuart G
Information Technology Services (IT) -
Very responsive service and competitive insurance pricing. Thank you Wanda
Wanda B
Migration Agency Service -
Very easy to use and understand. I am a first time business owner and Bizcover has does the hard work for me. Thanks you for this great service.
Jessica M
Beauty Salon Operation
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
Frequently Asked Questions on 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).
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.
Just because you’re working from home doesn’t mean things can’t go wrong. Every occupation and workplace comes with its own level of risk, and insurance could help you manage the financial fallout if things don’t go to plan.
These are a few of the 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
There are many types of insurance that home-based businesses consider, such as:
Public Liability*
Do you have clients visit your home-based office? Do you visit them in their office or off-site locations? You may want protection in place should you accidentally cause injury or damage to their personal property.
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 brings a claim against you due to their being injured or sustaining property damage as a result of your negligent business activities.
Cyber Liability*
Working from home may make you a desirable target for cybercrime. The Australian Cyber Security Centre estimates that up to 200,000 Australian small office and home office routers may be vulnerable to compromise1. If your systems were attacked, the impact could be destructive to your business.
Cyber Liability insurance covers losses from claims arising from data breaches, business interruption and remediation costs following an actual or threatened data breach.
Your coverage may 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 business reputation after an attack or data breach)
- Legal costs from any ensuing civil action taken against you or your company
ASD’s ACSC Annual Cyber Threat Report, July 2021 to June 2022
Personal Accident & Illness*
Being self-employed, you may want to consider 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).
Business Insurance Pack*
Looking for cover for your business contents, tools and equipment? What about protection to help you manage unplanned business interruptions, tax audits, or other risks associated with running your business?
You may want to consider a Business Insurance Pack, a customisable insurance package designed to help you cover the events above (and sometimes more) when an insured event occurs (such as fire, storm, theft or even accidental damage).
Options available through most Business Insurance Packs include (but are not limited to):
Contents*
Your home office may be full of business assets required to perform your job, like equipment, stock, and furniture. Even though these items are technically kept in your home, they may not be covered by your personal home & contents policy.
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*
Running a home-based business doesn’t mean you’re always at home. If you are on the road and need items like your laptop, tools and equipment to perform your profession, you might consider protecting them 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.
Business Interruption*
Anything can happen when you’re running a small business. If unplanned events force a temporary shutdown, Business Interruption cover could help you keep things going.
Business interruption provides cover for the loss of income and increased costs of operating your business caused by a specified insured event (such as property damage or fire). It’s designed to assist your business to recover from an insured event by paying ongoing expenses (such as wages or rent).
Tax Audit*
A call from the ATO is enough to frighten many home-based business owners, and a tax audit is even scarier! You might want to consider cover to help you manage the costs of a business audit.
Tax Audit Insurance covers a business for specified costs in the event that it is selected by the Australian Tax Office for auditing. The policy offers coverage for the costs of accountants and other nominated professional fees incurred in the course of an audit.
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.
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.
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