If you’re a sole trader or small business owner, you know how important it is to protect your work and your customers. Even when you take care, accidents can still happen. Without insurance, you could face large legal or compensation costs that might seriously affect your business.

Hacks, viruses, ransomware, or even clicking on the wrong link could bring a small business to its knees. During the 2021-22 financial year, the Australian Cyber Security Centre received 76,000 cybercrime reports—or one every 7 minutes.1 And these incidents aren’t cheap. The average cost per cybercrime was over $39,000 for small businesses.1

Business insurance is one of those things that may seem like a necessary but often time-consuming thing. However, after insurance has been purchased, it’s easy to forget about it.

“The only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

Business insurance helps small business owners manage everyday risks, from property damage and liability claims to business interruptions and cyberattacks. Without it, you may need to pay out of pocket for repairs, replacements, or legal expenses.

Know you need business insurance but aren’t sure how to get started?

Running a small business means juggling a million things — clients, deadlines, invoices, staff. So it’s no surprise that insurance usually gets left on the “I’ll deal with it later” pile… until something goes wrong.