Small Business Insurance Services
Business insurance is important for all businesses but it is small and medium businesses that have the most to lose by not having adequate insurance protection. While larger businesses may be able to absorb losses, the risks for smaller businesses are much more significant. Our business insurance services cater specifically to the needs of small business owners.
We understand that ensuring you have the right cover for your small business needs may be confusing but rest assured our experienced business brokers can help find insurance solutioins specifically for your needs.
The key areas that you will need to consider include:
Public Liability Insurance Cover
If your business involves direct contact with the general public then public liability insurance cover is going to be a necessity for your small business. This type of insurance protects you against the financial impacts of negligence which results in personal injury to others of property damage.
In Queensland, it is optional for many small businesses. However, there are a number of business types where public liability insurance is mandatory.
Professional Indemnity INSURANCE
The key difference between personal liability and professional indemnity insurance is that while public liability covers you for negligence resulting in physical damage, professional indemnity covers you against negligence resulting in financial loss for another person.
Essentially if your business is involved in giving others professional advice and that advice results in a financial loss for your client, you could be liable for that loss.
Business property cover
Living and working in Australia means we are regularly at risk from a wide variety of natural and environmental impacts such as bushfires, storms and floods. Adequately protecting your business property is therefore vitally important.
And it's not just about protecting your business from natural disasters. It's worth also considering the risks associated with burglary, theft, money, glass, employee fraud, stock and machinery.
You should also consider business interruption insurance and building insurance if you own the premises that you operate from.
Other Insurance options
There are a number of other insurance products that it is worth small and medium business owners considering, depending on the type of business that you operate. Aside from Workers Compensation insurance which is mandatory for employers in Australia, these include:
- Income Protection Insurance
- Product Liability Insurance
- Management Liability Insurance
- Directors & Officers Insurance
- Product Recall Insurance
- Cyber Insurance
To ensure you have the right insurance cover for your business, talk to one of our expert business insurance brokers and get the peace of mind that you have the right business insurance cover, tailored to your specific needs.