Business Insurance
WE'VE GOT YOU COVERED
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 and equipment 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.
What can it cover?
Business insurance packs can offer general protection for a business, which may include cover against:
Repair or replacement of property damaged
Covers loss of income and turnover following insured damage to property and
additional costs and expenses incurred during a claim
Repair or replacement of property stolen
Loss of money.
Your liability to pay compensation for personal injury and property damage as well as
the costs involved in defending a claim triggered by the policy.
For replacing glass inside or outside your premises, including your shopfront
windows, mirrors or display cases
For stock that is in transit on the road, in the air or by sea
For repairing or replacing electronic equipment that breaks down
Cover for costs associated with machinery breakdown.
To cover your tools of trade, including laptops and tools that you use for your profession or trade.
To cover the costs of being audited by the ATO
Direct financial loss of the business caused by the dishonest or fraudulent conduct of
an employee which is first discovered during the period of insurance.
Case Study
Rohan owns a shop in the city. One night a water pipe bursts, flooding the building and damaging his stock. Even worse, the building must be evacuated and renovated to repair all the water damage. This means that Rohan is unable to trade for six weeks.
Rohan’s business insurance covers the cost of the renovations. And, because he has business interruption insurance, he receives a payout to cover the income lost while he’s unable to trade.
What usually isn’t covered?
Exclusions, and the excess you need to pay, and limits of liability can vary greatly depending on your insurer and the requirements of your business.
Contact Bracesure today to discuss your insurance requirements.
"Business insurance can protect the equipment and machinery you need to stay in business. It can ensure that you, your employees and any members of the public with whom you interact in your business are protected from the risk you face as a business owner."
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Did you know?
$38b
$38 billion per year is the amount natural disasters are costing the Australian economy. (Special report: Update to the economic costs of natural disasters in Australia, Australian Business Roundtable for Disaster Resilience & Safer Communities, 2021)
40%
40% of SMEs buy their insurance through a broker (Vero 2021 SME Insurance Index)
Top Risks
Business interruption and Cyber incidents were considered the top risks
facing Australian businesses in 2022. (Allianz Risk Barometer, 2022.)