Types of Business Insurance by Industry and Occupation in AU

You build it, we secure it. Arrange a suitable insurance cover for your business.

Running a big or small business involves many risks, especially financial ones. Different types of business insurance designed for varied industries and occupations are here to protect your business or profession from different kinds of losses due to unforeseen circumstances that may occur. They come in many forms and include coverages for legal liability, employee-related risks, and even property damage.

Business Insurance Packages to Choose From

Different types of businesses or professions need different covers based on potential risks. This can vary depending on a lot of factors including the nature of business and the environment in which the company is in. Know more about the different kinds of insurances below.

is designed to protect your business from claims arising whilst you’re providing professional advice or services. Professional indemnity insurance can also assist you with the legal defence, compensation, and settlement costs associated with the claims.

As a business owner, you are liable for any third-party injury or damage arising from conducting your business. This insurance policy may cover incidents like slips and falls within the premises of your beauty salon.

Part of running and operating businesses is to sell or supply products. Product liability insurance protects you from any personal injury or damage caused by your goods. If a client makes a claim against you for developing an irritation, product liability insurance may cover the compensation costs.

General Property Insurance

Renting a space for your business automatically requires you to get this type of insurance. It covers damages to your property. It can be machine or equipment damage, furniture or inventory damage due to storms, fire, or even theft.

Business Interruption Insurance

There will come a time when your business will be forced to stop its operations. This could be caused by a pandemic or natural disaster, among other things. Be ready to cover loss of income due to the inability to work because of uncontrollable circumstances.

Other Insurance Products for Additional Protection

Risks for businesses are not only related to practice but to business operations as well. Get covered by other policies on top of public and products liability insurance. These insurance products below are a recommendation only and are subject to a review of your specific requirements.

Management Liability

is specifically for private companies and covers claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination actions), crime (theft by employees or third parties), tax audit, and statutory fines and penalties.

Business Insurance

This policy protects your business, covering equipment and property damage from accidents, losses due to theft, fire, glass but not limited to. You may also want to consider Business Interruption, for the potential loss of income, under certain sections of the business policy.

Tax Audit Insurance

Whether you run a small or large business or work as a health or beauty contractor. This insurance policy will cover your business for tax auditing by the ATO.

Cyber Insurance

If you maintain a website or a digital record of your customers’ personal information, especially online, you are at risk of a data breach. This insurance product covers you from data theft.

Workers’ compensation is a mandatory requirement for all businesses to cover their staff and contractors in the event of an accident.

Personal Accident and Illness Insurance

This insurance is for every individual, business owner or contractor, as accidents and sickness do happen to business owners and contractors. This may assist your business to enable you to employ staff to cover you, the business owner, while you are unable to work.

What industries and occupations are covered?

We cover the following businesses and professionals:

  • Accountants
  • Allied Health Professionals
  • Architects
  • Bakers
  • Bookkeepers & BAS Agents
  • Butcher Shops
  • Cabinet Makers
  • Cafes
  • Carpenters
  • Car Wash and Auto Detailers
  • Civil Engineers
  • Cleaners
  • Consultants
  • Convenience Stores
  • Disability Workers
  • Dog Grooming
  • Dog Walking
  • Engineers
  • Electricians
  • Handyman
  • Finance & Mortgage Brokers
  • Furniture manufacturer
  • Gift Shops
  • Hair & Beauty Services
  • IT Professionals
  • Land Surveyors
  • Landscapers
  • Lawn Mowing Services
  • Makeup Artists
  • Manufacturing
  • Marketing
  • Martial Arts Teachers
  • Massage & Alternative Therapies
  • Migration Agents
  • Mobile Food Vans
  • Nurses
  • Painters
  • Personal Trainers
  • Pet Professionals
  • Pizza Shops
  • Plasterers
  • Plumbers
  • Professionals
  • Project Managers
  • Psychologists
  • Real Estate Agents
  • Recruitment Consultants
  • Restaurants
  • Retailers
  • Social Workers
  • Tax Agents
  • Tradesmen
  • Tutors
  • Yoga Teachers

Secure a Customisable Insurance for Your Business

With our network of insurance brokers in Australia, Sparrow Insurance can arrange a business insurance specific to your industry. We can offer you suitable insurance options that fit your needs and requirements. As we guide you with the customisable insurance products, we’ll be there to help you every step of the way.

  • Step 1: Browse our website to know more about our insurance products.
  • Step 2: Fill out the contact form from our website. Our agents will get in touch right away.
  • Step 3: Get a quote online. We’ll be ready to set up your business insurance policies.

FAQs

1. How do I choose the right package?

Talk to us through the Contact Us page or give us a call (07) 550 28326. We can proceed with the initial consultation, where we can assess your business operations. From there, our trusted insurance brokers can present to you several packages to choose from.

2. What cover do I need for a small business?

For a small business, you may need different types of insurance covers. Sparrow Insurance highly recommends a chat with one of the team to review your risks and requirements.

3. Do I need workers compensation insurance for 1 employee?

Yes, all employers with at least one employee must have workers compensation insurance. This insurance policy covers contractors and subcontractors unless they are independent entities. It is the general responsibility of employers to provide the information they need.

4. Is there a fee for additional coverage?

Extras in insurance cover come with additional fees.