Business Insurance

What is business insurance?

A business takes years to build – but an accident or disaster could destroy it all in minutes. That’s why businesses should help protect themselves with a quality business insurance pack.

With the right cover in place, owners can run their business with confidence, knowing that their premises, stock, equipment and reputation are protected by insurance.

Who should consider it?

Business owners can benefit from taking out an affordable and comprehensive business insurance pack to help protect them against the main risks involved in running a business.

Having the right insurance will help protect your business and minimise its exposure to risk. This may include insuring your business, your income and your commercial risk.

Department of Innovation, Industry and Science, 2018

Did you know?

$33b

The cost of natural disasters to Australian business, government and communities is estimated to reach $33 billion by 2050.

(Australian Business Rountable, The Economic Cost of the Social Impact of Natural Disasters, 2016)

35%

According to Inside Small Business, only 16% of SMEs have a financial back-up plan in place, while 35% said they’d need to cut spending and limit their lifestyle if they were unable to work.

(Inside Small Business, ‘Seven insurance issues small-business owners should consider in 2017’, 2017)

24%

Sole traders were the least likely of businesses to be insured, (24%), followed by small businesses operating from home (21.4%).

(ICA, Non-insurance in the Small to Medium Sized Enterprise Sector, 2015)

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