InsuranceWorks | What basic insurance does a small business need?
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Business Insurance Brokers Sunshine Coast

Each and every business in Australia, whether it is run out of a shop, an office or from home, requires liability insurance. Liability insurance “provides both defence and damages if you, your employees or your products or services cause or are alleged to have caused Bodily Injury or Property Damage to a third party.” General Liability Insurance will help to cover the costs of any claims made against a business for bodily injury or property damage or that your business has damaged someone else’s property. Professional Liability Insurance, or Errors and Omissions Insurance, will help to cover the costs of any claims that your business made mistakes or was negligent in products or services provided.

All eventualities need to be foreseen and covered — what risks does your business face?

Small Business Insurance covers the above liabilities and can also replace lost income if a business is cannot operate because of an incident that is covered.

Nothing should be left to chance

Property Insurance is also necessary, as is Workers’ Compensation Insurance. If anyone drives on business then Commercial Auto is obligatory too. Should the directors and officers of the company be covered against actions that could affect profitability or operations? Is it important that you protect yourself against a breech of data? Do you need insurance for your equipment?

And every policy must be custom-built especially for the client

All these policies must be tailored to your business though, which means you need a really good, experienced insurance broker who understands exactly what you do and what you need. One size certainly does not fit all. For example, you may need Commercial Flood Insurance or Commercial Umbrella Insurance or any number of tweaks to your policy. But you need an expert professional with years of experience to see precisely what coverage you need and how to combine the policies and advise you.

You cannot foresee the future, but you can certainly put protection in place

That’s why you should speak to the Woolgroves at InsuranceWorks. Your life will be made easier if you can rely on a highly respected 25-year old family-owned business insurance broker on the Sunshine Coast who understands your priorities and problems. InsuranceWorks sticks to your budget and gives you value for your premiums.

Business Liability Insurance Sunshine Coast

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