As a small business owner you know, or you've been told, you need public liability insurance you but you may not be too sure why you need it; and what the difference is between one public liability insurance policy versus the next.
Commercial Insurance Quotes and Policies
Wherever you are in Australia , our team of friendly small business insurance brokers may be able to assist you by providing you with multiple quotes on suitable commercial policies to cover the commercial risks you face.
What is commercial insurance ?
Commercial insurance typically refers to policies that aim to cover the commercial activities of a business. Commercial insurance is often referred to as business insurance.
There are a number of common commercial insurances.
Depending on the nature or size of your business, your budget and risk profile one or multiple commercial insurance policies may be required.
Types of commercial insurance policies for small business owners to consider
- Public liability insurance – may protect you against claims from harm to other people or their property caused from your work activities ; work at site including unauthorized access, attractive nuisance, liability for sub-contractors, vicarious liability for sub-contractors.
- Product liability - may protect you when products you have supplied, repaired or manufactured cause harm, injure someone or cause property damage.
- Commercial property - damage to commercial premises ; glass cover is an option
- Professional indemnity - generally for businesses providing advice for a fee
- General property insurance – may cover damage or loss to tradie’s business equipment such as tools, mobiles , computers , power equipment , or stock such as timber or frames.
- Business insurance pack – you may be able to combine public liability and other covers in a specially designed policy for a small t business. Ask your SMART broker for details.
- Marine cargo – cover if you receive or send goods such as building materials via post or freight.
- Commercial motor – may cover any vehicle - car, van , light truck - that you own and use mainly for your business.
- Cyber Insurance - can help cover financial losses following a cyber security breach.
Trying to work out what commercial insurance policies your business needs?
We may be able to assist you determine what covers you need for your business risks.
Talk to a SMART business insurance specialist on 1300 542 573 to discuss commercial insurance cover TODAY.
1300 542 573
TALK to a SMART Business Insurance adviser
Monday – Friday 8.45 am - 6.00 pm AEST
Why does a small business need commercial insurance?
Small business owners need commercial insurance for a number of reasons including:
- protection of the value of commercial assets such as commercial property , commercial vehicles , machinery , tools and profit.
- cover to protect yourself and your business against claims due to negligence.
Since, sole traders ,self employed sub-contractors and small business owners are responsible for their commercial actions they are liable for any financial claim arising out of damage caused to property or injury to person.
It is therefore considered vital for small business owners to take out suitable commercial insurance cover.
Further, some small business owners like electricians in Tasmania and Queensland and plumbers in Victoria cannot apply for or renew their contractor's license without the relevant commercial insurance.
Talk to Smart Business Insurance Brokers on 1300 542 573 to protect yourself and your business with suitable and affordable commercial insurance.
How much does commercial insurance cost?
So, how much will commercial insurance cost you?
The core cover for all small business owners is public liability.
Professional small business owners, such as consultants , web designers , software developers and photographers typically will require at least combined professional indemnity and public liability cover.
As an example : Web developer business insurance cost: from $580 for $1 million professional indemnity PLUS $5 million public liability insurance
As insurance policies are priced according to risk each different trade is “rated” as a unique occupation by the insurers and will attract its own cost.
Contact your Commercial Business Insurance Broker
For more information and quotes on commercial polices such as commercial property, commercial motor and any of the above polices please TALK to a friendly SMART broker who may be able to assist on 1300 542 573.