Mechanical Breakdown Insurance
- Compare multiple insurance quotes online
- Competitive pricing with our Price Promise
- Trusted by over 220,000 Australian Businesses
Compare quotes from our trusted insurance partners*:
Comparing Portable Equipment & Electronic Equipment Cover
... the insurer and detailed in your insurance schedule. There are a couple of types of cover within this option that you'll need to choose from: BREAKDOWN – electrical or mechanical failure arising from internal defects ...
read more5 Surprising Things Business Insurance Can Cover
... piece of machinery has gone on the blink as the deadline for a large order is approaching. Machinery Breakdown insurance is an important form of coverage for businesses who rely on machinery or equipment in their day-to ...
read more7 surprising ways business insurance can help your company
... items of portable equipment associated with your business. These can include tools of trade and items of stock. Machinery Breakdown *: This insurance covers the cost to repair or replace specified machinery following a ...
read moreA sole traders and freelancers guide to business insurance
... Rust, mould or mildew Machinery breakdown Computer virus or hacking Pollution Any person deliberately switching off power supply Faulty design or workmanship Tax Audit* Tax Audit Insurance covers a business for specified ...
read more4 reasons why restaurant insurance is important (and how to protect yours)
... due to stock being damaged, for instance if food spoils because of a fridge breakdown. Find Insurance for Restaurants with BizCover Insurance can serve up much needed peace of mind for restaurant owners. From protecting ...
read more5 insurances every convenience store owner needs to know about
... down, you may feel like your pouring money down the drain, but fret not, there's an insurance for that! With Machinery Breakdown cover, you can take away the stress of having to fork out the big dollars when your store ...
read moreDishing up the facts on food business insurance
... and policy options to choose from. Why do I need insurance for my food business? Whether you are serving up fancy ... if you insure Building or Contents. Machinery Breakdown - offers protection for the related costs of ...
read moreBusiness Insurance Guide for the Self-Employed – Part 3
... indemnity period Voluntary closures Losses due to breakdown in equipment or machinery This is Eliza' ... an audit is enough to make you panic. Tax Audit Insurance covers a business for specified costs if the ATO selects it ...
read moreThe Easter Bunny’s Guide to Business Insurance
... that the eggs are stored in stop working? Within a Business Insurance pack the Easter Bunny would have cover for machinery breakdown and the deterioration of stock, covering the cost of repairs or replacement ...
read moreTop tips to boost your small business insurance confidence
... of assets. Do you know what you are covered for? There's a good possibility that you set up your business insurance policy and just pay your renewal each year that it comes around. But taking some time out to read and ...
read moreHousekeeping your business insurance – A checklist guide
... ? Like a lot of things when running a business, you tend to set and forget when it comes to your business insurance policy. This is where you need to sit down and review the amount of coverage you have in place, assess ...
read moreWhat’s the difference between Public and Product Liability insurance?
... can select the cover that will suit your business. There's no paperwork or hard-to understand insurance jargon, just insurance made easy. Get your quote today . * This information is general only and does not take into ...
read moreA practical guide to understanding business insurance
... most trusted insurers, select your policy and get covered in minutes. There's no messy paperwork or insurance jargon, just insurance made easy. Get a quote today. * This information is general only and does not take into ...
read moreDebunking insurance myths – common insurance misconceptions
... 't mean that things still can't go wrong. Let's take a look at some of the types of scenarios and insurance coverages that you may need to consider. You have clients coming to visit your place of business at home- all it ...
read moreQLD Electricians Licence and Insurance Requirements
... . To make things a bit easier we're here to break down the key things you need to know about insurance requirements for electricians in QLD- without the boring bits. Let's get started by having a look at the basics ...
read more5 things to consider when purchasing business insurance
... customer data was stolen? You were unable to work due to an accident or illness? 2. What type of business insurances do I need to consider? When you have a solid understanding of the types of risks and scenario's that ...
read more6 ways to save money on tradie insurance
... On the other hand, make sure your provider knows if you are going to be taking on riskier work in the next insurance period. It might cost you more in premiums, but if you don’t let them know you may find that any claims ...
read moreThe 5 biggest mistakes tradies make with their insurance
... important to understand your cover. It’s worth taking the time to read through your policy and to ask your insurance provider any questions you may have. That way you can rest assured that you have all the cover you need ...
read moreA blue-collar workers guide to understanding Personal Accident and Illness insurance
... re the one running the show. As a small business owner, chances are you have some sort of business insurance already in place. While you may have coverages for things like Public Liability and your tools sorted, have you ...
read moreThe risky business of insurance
... ill as a direct result of their job. Any business with employees are required to have WC How you buy insurance can save you time and money Shopping around to compare what's covered is an important part of the process ...
read moreA Guide to PI Insurance
... 't know if they are getting the best deal. This is where BizCover steps in to satisfy your Professional Indemnity Insurance needs. BizCover allows you to get live online quotes in under 2 minutes , and purchase in only a ...
read moreComparing a claims-made vs. occurrence insurance policy
... types of policies handle potential claims based on when you become aware of them. What is a claims-made insurance policy? A claims-made policy is designed to provide cover when a claim is first made against your business ...
read more7 ways to save on business insurance
... 7. Let your insurer know about business changes Changes to your business could mean that changes to your business insurance are in order! Some changes might even result in your premiums being lowered, such as moving to a ...
read moreBenefits of insurance for small businesses
... you. Hopefully, this article has explained some of the key risks you could get protected from and how insurance can protect from financial loss so you can keep your business thriving for years to come. This information ...
read moreWhat is Management Liability Insurance and Who Needs It?
... a business owner, business executive, or a senior business manager, you will likely be aware of Management Liability insurance and how it can help to reduce the unique risks that come with your role as a business leader ...
read moreTop tips for buying Management Liability Insurance
... , and that includes Management Liability. There can be limitations on the coverage you receive, just like any other insurance policy. As such, knowing what you will be covered for and what you won't be covered under the ...
read moreSteady as she goes - still no increases in Insurance Premiums!
... movement in the index over the last 9 quarters. The Retail Sector is one of the few industries where insurances prices have increased. A trend driven by continued competition, as well as capacity in the market. This has ...
read more6 things you didn’t know about small business insurance
... . A small price to pay even if it is unlikely you will have a million dollar claim. 2. However your business insurance may cover personal items If you have cover for theft and there is a break in to your office, you may ...
read moreSmall Business Insurance: Why you might want to ensure you’re covered!
... landlord. Or if you take out a contract with a large organisation they may stipulate that you have certain insurance to work for them. For example handymen are often required to have at least $5 million public liability ...
read moreSmall Business Insurance Index Q2: 5 point increase, largest in 10 quarters
... increase of 5 points in the second quarter of FY2015/2016, the first increase seen in 10 quarters. This brings the insurance rates back to the same level as Q4 2013/14 (6 quarters ago). It should be noted that rates are ...
read moreGetting the best value on your business insurance
... . If you have downsized your team or you are earning less money you may be able to make a saving on your insurance . Also if you are no longer doing certain business activities - you may be able to take them off your ...
read more5 reasons to review your business insurance this Christmas
... more seasonal injury caused by a sinister Christmas decoration. Now's the time to make sure you have Public Liability insurance , and if you do have it, ensuring you have adequate cover. 2. Increase in stock Next there's ...
read more6 areas you may not have thought business insurance covers
... for $100,000 your insurer could possibly only pay out $75,000. 5. Money Did you know your Business Insurance policy can also provide cover for money that belongs to your business if it was lost, stolen or damaged whilst ...
read more7 Common Types of Small Business Insurance
... of a salon owner who has a shop front. However, one thing's for certain, and that is, finding the right insurance is an essential part of managing the risks involved in operating your business. And let's face it - all ...
read moreKeep calm and stretch on with Yoga Teacher insurance
Breathe in, breathe out, and let a wave of calm wash over, letting the stress of arranging your yoga teacher insurance go. As a yogi or yogini, you don't have time to be worrying about having the right cover in place to ...
read moreThe bricks and mortar of building insurance cover – what you need to know
... ? Building cover is generally only taken out if you are the owner of the business premises. As part of the insurance assessment process, an assessor may be brought in to conduct a valuation of the property. If you are a ...
read more5 questions to ask yourself before buying Insurance for your small business
... ? Whether you're opening up a new business or have been in business for a while and looking to buy insurance for the first time; there are a few questions you can ask yourself upfront to help save you time and money ...
read moreInsurance Premiums for Retailers Continue to Climb
... 1), and similar to quarter 2 of last financial year, the index is showing an increase in small business insurance rates, with the index rising 3 points over last quarter. This increase however is not universal. Graph 1 ...
read moreDo I need insurance for my market stall?
... you can even set your stall up. In some cases you may be covered under the market organiser's group insurance policy, however be careful to check with them what you are covered for as there may be some exclusions which ...
read more5 tips for an insurance health check
... wanting to do a general review of your business, it's worth taking time to do a health check of your insurance to ensure that if the unthinkable happens and your business is hit by a major event, you not only have the ...
read more5 Common Beauty Insurance Claims
... importantly, identify the unique risks to your business and safeguard against them by making sure you have the right insurance policies in place. It's also a wise idea to conduct an annual review of your policies as your ...
read moreCommon small business insurance claims and how to prevent them
... and have a big impact on the running of your business and your bottom line. Whilst you've got the insurance to help you out, you'd ultimately rather avoid the disruption to your business that these unexpected events can ...
read moreInsurance Considerations for Personal Trainers
... were to go wrong because of this advice. To cover yourself against this risk you should consider Professional Indemnity Insurance , which can help protect you for any claims that may arise due to any advice that you have ...
read moreSmall Business Continues to Win on Insurance Prices!
... they have remain flat over the quarter (Graph 1). A win for small businesses! Prices across all insurance classes were stable across the quarter, and this was reflected across most industries as well. The retail industry ...
read moreTop 5 reasons for having Professional Indemnity and Public Liability insurance
... modality/modalities, with a minimum of $2 million coverage (each claim). You must show proof of your insurance by providing a copy of your policy or certificate of currency, including the modalities covered and insured ...
read more7 things accountants need to consider when applying for Professional Indemnity insurance
... covered for what you think you are. If you don't understand the technical terms, speak to an insurance professional who can help you understand the meaning. Some policies will cover: Lost Documents, Fidelity (cover for a ...
read moreWhat insurance do contractors and subcontractors need?
... any issues or errors that may occur with your work. You could also be subject to a lawsuit or an insurance claim if things go wrong. Beyond that, there are several key risks that contractors may encounter on any given ...
read moreA guide to plasterer’s insurance that won't leave you, board
... cover with the right limits in advance. Some industry bodies will require you to have your own Public Liability insurance policy before being able to join Cover your bits Your tools of trade are vital to getting the job ...
read moreInsurance for architects – the blueprint to success
... or error is all it can take to send your business and your reputation crashing down. Having the right business insurance as part of your overall business plan is a solid choice and can help provide the foundations for a ...
read moreTools of Trade Insurance – The definitive guide
... be stolen or misplaced; they may also be damaged due to overuse and wear and tear. And this is when trade tools insurance can save the day for tradies. Do you give names to your tools and have pep talks with them? Do you ...
read moreUnderstanding Insurance for Mortgage Brokers
... you hold and what the consequences would be if your business systems were hacked . C yber L iability insurance policy is designed to help protect you from claims and support your profitability in the event of a cyber ...
read moreThe ultimate guide to business insurance for real estate agents
... action temporarily due to an event such as a fire, would you still be able to earn an income? Cyber Insurance When you are handling and storing client data, the implications for your business if there was a breach or it ...
read moreUnderstanding Insurance for Interior Designers
... yourself. When you're out of action, so is your business. That's where Personal Accident and Illness insurance saves the day, by providing financial protection when you need it the most. Personal Accident and Illness (PA ...
read moreGuide to Physiotherapy Business insurance
... 's leading insurers in the click of a button or a quick call to our friendly team. We're all about making insurance easy, so there's no messy paperwork or jargon. Find out how we help you protect your business today. *As ...
read moreUnderstanding Insurance for Graphic Designers
... it comes to you delivering on projects. When things don't go to plan, that's when your business insurance comes into play. We've put this simple guide together to help graphic designers get a better understanding of the ...
read moreUnderstanding business insurance for bookkeepers
... , means there's a real risk of a privacy breach if a cyber attack were to occur. Cyber Liability insurance* is designed to help protect you from claims and support your profitability in the event of a cyber breach or ...
read moreUnderstanding insurance for recruitment consultants
... or personal information you may be storing and the consequences if it were to be compromised. Cyber Liability insurance helps to protect you from claims and supports your profitability in the event of a cyber breach or ...
read moreWhat are some types of insurance available for small businesses?
... external accountant or similar professional and their fees can quickly add up . Get covered Shopping around for business insurance quotes shouldn't be a hassle and at BizCover we aim to keep it as fuss free as possible ...
read moreA Mumpreneurs Guide to Understanding Business Insurance
... one thing off your hands, and that’s the stress of trying to make heads or tails of business insurance. Understanding the different kinds of coverages your business needs shouldn’t be complicated or overwhelming. It’s a ...
read morePublic Liability vs. Professional Indemnity insurance: What’s the difference?
... two different forms of cover and how they can protect your business. What is Public Liability insurance*? Public Liability Insurance is designed to provide protection for you and your business in the event a customer ...
read moreUnderstanding Insurance for Retailers
... industry is one which is exposed to many potential risks for things to go wrong, and that's where business insurance can help save the day. Whether you're selling the finest frocks in town or an emporium of gifts, no ...
read moreFinding the right business insurance can be hard but BizCover makes it easy
... concerned that you don't have the right coverage or best prices, make your life easier by choosing BizCover, where insurance is made easy. …Or as some might say, it’s made too easy. https://www.bizcover.com.au/wp-content ...
read moreInsurance for Cabinet Makers- What You Need to Know
... go to plan? The reality is cabinet makers are faced with risks every day. Having the right types of insurance in place to protect your cabinet making business is a solid investment, protecting not only your finances but ...
read moreAm I Covered? Theft Insurance vs Building & Contents
... Contents policy covered $4,300 to replace the damaged coin machine. But the money stolen from it was gone. Theft insurance in action So, what does a Theft claim look like? Here's an example † : Two thieves broke into a ...
read moreBig Bunny Business: An Interview with the Easter Bunny
... pickle. Not taking any risks, I took out Machinery Breakdown Insurance to protect my machinery equipment if this were to happen. Machinery Breakdown Insurance covers the cost of repairing or replacing insured machinery ...
read moreIs your small business summer proof?
... for over $30,000 due to the loss of stock from the breakdown of a freezer. Machinery Breakdown can be covered under a Business Insurance pack; this will cover the repair or replacement of the machinery. Deterioration ...
read moreDon’t be a pork chop – insure your butcher shop
... , as well as the loss of stock while your machinery is out of action. Machinery Breakdown cover is available under a Business Insurance pack and provides cover for the repair or replacement of insured machinery, with the ...
read moreThe risks of growing your small business
... will determine whether the next phase involves growth and prosperity or financial breakdown. With smart risk management , however, and a tailored insurance plan, your business will be in the best position to come out ...
read more5 ways to prepare your business premises for the cooler seasons
... the costs of repairing or replacing insured machinery following a breakdown or motor burn out , so you're not ... of an eye, and that's why making sure your insurance is covering you for the right things , with adequate ...
read moreCover Options for Bushfire-Proofing Your Business
... indemnity period Voluntary closures Losses due to breakdown in equipment or machinery Ensure you have ... should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and ...
read more6 project management challenges and how to overcome them
... clients Understand the different types of business insurance policies that are available and how they can protect your project management business Challenge 5: Communication breakdown Communication is one area of project ...
read moreHow to optimise your seasonal business year-round
... order. This will also reduce the risk of expensive breakdowns during peak season that can stop work for extended periods ... not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions ...
read more5 ways to protect your business from liability risks
... with a lawsuit include diseases, injuries, equipment breakdowns, and staff errors malfunctions. 2. Reduce ... don't go to plan. And this is where business insurance can be your last line of defence against liability risks ...
read moreIdentifying and protecting your business from different types of cyber-risks
... ensure software and anti-virus programs are all up to date Invest in Cyber Liability insurance* Cyber Liability insurance provides your business with an extra layer of protection from unwanted cyber threats and attacks ...
read moreHow to Start a Business in QLD in 7 Easy Steps
... registration may not be valid or require further details to be accepted in Queensland. Related: Licence and Insurance Requirements for QLD Electricians 6. Grants and support in QLD In those initial days of starting out ...
read moreSole trader vs. company: What are the key differences
... spend time doing the important things like running your business. Get a quote today and start experiencing insurance made easy. * This information is general only and does not take into account your objectives, financial ...
read moreBeing financially prepared for Bushfire Season
... can to minimise the physical impact of a fire. Now is also a good time for businesses to check their insurance to ensure they have adequate cover to survive financially if they are impacted by a bushfire. A quick check ...
read moreSmall Business Index July 2015
... the low number of catastrophes and low interest rates, and those with capital chasing returns in insurance.” The Professional Indemnity rates reduced the most this financial year finishing 3% lower. Over the time ...
read more14 crucial cyber security tips for small businesses in 2024
... with minimal fuss and maximum efficiency. Part of your disaster recovery plan should also include having Cyber Liability insurance. If you’re insured with BizCover, filing a claim is a breeze. A few simple steps and you ...
read moreHow to be a good manager: 10 management tips for first-time managers
... 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. © 2022 BizCover ...
read moreTop 9 threats to small businesses and how to avoid them
... 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. © 2022 BizCover ...
read moreWhy having an office inventory list is essential.
... when you get rid of them as well. This will also help you to ensure that when you review your insurance , you have the right level of cover for your contents - because there is nothing worse than being underinsured when ...
read moreRisk avoidance vs. risk reduction: What’s the difference
... in your small business. What if you get it wrong and your client suffers as a result? Professional Indemnity insurance is there to reduce this type of risk, providing protection for financial loss and legal costs in the ...
read moreHow to overcome the risks of scaling up a business
... As such, you may need to shed the parts of your business that won't serve you moving forward. Business insurance made oh so easy with BizCover As you scale up your business and calculate risk, you'll want to ensure that ...
read more7 practical productivity tips for consultants
... the stress of the situation, a claim can be extremely distracting and affect your productivity. Luckily, Professional Indemnity insurance is there to cover the financial loss and legal costs in the event of a claim. This ...
read more5 common risks consulting firms face
... won't get paid. How would your business manage if something happened to you? Having Personal Accident & Illness (PA) insurance covers you for loss of income if you were unable to work as a result of an injury or illness ...
read moreThe best cities in Australia to launch a business
... 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. © 2022 BizCover ...
read more9 startup marketing strategies that work
... you prefer to speak with us, you can reach our friendly team on 1300 920 867 . Compare competitive business insurance quotes, get covered in just 10 minutes, and get back to business. If you prefer to speak with us, you ...
read moreThe 4 stages of business growth: Where are you now
... key strategy for long-term success in business is reducing your risk. At BizCover we make buying your business insurance* in Melbourne faster and easier than ever - and without the hassle you may have experienced in the ...
read moreHow to set up your small business sustainability plan
... ever before - and without the drama you may have endured in the past when buying your business insurance. We provide a quick and easy online platform for small business owners throughout Australia to compare competitive ...
read moreWhy choose Melbourne for business
... and what isn't, and a list of industries and occupations that may require or benefit from having insurance. Compare competitive insurance quotes, get covered in just 10 minutes, and get back to business. If you prefer to ...
read moreTop 5 profitable small business ideas in Sydney
... consultancy business. And your new financial consultancy may also benefit from reducing its risk via business insurance such as insurance for accountants . 4. Pet hotel Sydney is a pet-loving city and opening your own ...
read moreThe balancing act of work/life balance: how you can do it all and stress less
... the bills, ensure you have enough money for recuperation and still afford a decent lifestyle? Personal Accident and Illness insurance covers* you for loss of income if you were unable to work as a result of an injury or ...
read moreThe Remaining Risk: What Isn’t Covered and Why it Matters
... ll need to find $300,000 to rebuild at the same value. What's more, most insurers have a clause for under-insurance, whereby if a partial claim is made the insured can only claim a pro-rata amount. For example, if a fire ...
read more9 common startup costs for small businesses
... 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. © 2022 BizCover ...
read moreA roadmap to staying in business for the long haul: Part 2
... are lost, stolen or damaged so you can get back to doing what you do best, stress-free. Having business insurance gives you peace of mind . If a claim was made against your business, you can relax knowing that you have ...
read moreDespite Insurers Talk, Premiums Won't Walk
... shown that despite the 'want' of insurers to increase prices, there has been very little movement in SME insurance pricing, with any price increases being mainly observed in the retail sector. A high level view of this ...
read moreA Close Shave with Underinsurance
... out, the business had to shut for a further 4 days whilst temporary repairs were made. While her landlord’s insurance covered the repairs to the roof, it did not cover her for the loss of income of so many days closed ...
read more6 essential tips for running a profitable business
... path and reach a budget that caters to your business and your personal needs. 3. Sort out your business insurance cover No matter what industry, running a business involves a lot of risks . If one of these risks were ...
read morePrevention & Protection - The Big Burglary Buffers
... hard work you put in, and a costly one, but with the twin pillars of security (ie prevention) and insurance (ie protection), you can keep your business safe from harm and leave your mind free from worry. Businesses under ...
read moreReviews related to Mechanical Breakdown Insurance
-
product knowledge and advice are excellent
Frank F
Other -
Easy to read understand and follow
Tui d
Other -
Easy As!! Thank you
Casey W
Entertainment -
EASY CONVENIENT!
HONGWEI Z
Travel -
Excellent Customer Service
Trevor C
Other
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.
Prefer to talk?
Call us and talk to a real person.
Friendly, helpful service from a business insurance professional.
1300 249 268
Mon-Fri 8.30am-7.00pm
Sat 9.00am-5.00pm