Business Insurance
Straightforward Advice and insurance for your business
Running your own business isn’t easy. Thankfully, Business Insurance does not need to be complicated. A business takes years to build, but, an accident or disaster can destroy a business in minutes. We help business owners understand the risks in their business, and, find a policy that provides a solution for that business.
Looking for a Business Insurance solution that is easy for you to arrange?
we help you find the insurance that is right for you
Did you know?
What is Business Insurance?
Business Insurance is a type of insurance policy that combines multiple insurance offerings into one convenient policy. A business insurance policy will typically include cover for:
Property Damage or Material Damage, for the repair or replacement of Buildings, Contents, Stock, and, Customers Goods damaged through defined events such as Fire, Storm, Earthquake and in some cases Flood.
Business Interruption, for the loss of trading profit, income, and / or, rent following insured damage to the property and additional costs or expenses incurred during a claim.
Theft or Burglary, for the replacement of property stolen from the insured premises
Money, for the loss of money on the premise
Public and Products Liability (Broadform Liability), your liability to pay compensation to others for personal injury or property damage as well as the costs involved in defending a claim triggered by the policy
Glass for the replacement of broken glass inside or outside of your premises and can include glass display counters, mirrors, display windows, glass partitions and external signage.
Transit cover for your stock or business equipment when in transit between your locations.
General Property cover for portable items such as laptops, tools of trade, medical equipment, photography equipment, or, sales samples you use for your business, profession, or trade.
Electronic Equipment Breakdown for the repair or replacement of electronic items that have broken down or had hardware failures insured by the policy
Machinery Breakdown is for the repair costs associated with a breakdown of mechanical items such as pumps, motors, and grinders
Tax Audit to cover the costs associated with being audited by the ATO and preparing the information that they request from you.
Employee Dishonesty for the 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.
The above list of covers is typical of a business insurance policy. Some policies can offer more cover, such as the inclusion of Management Liability Insurance (or Directors Liability Insurance), whilst others cover personal accident and injury for the owner operator.
Who is it for?
A business insurance policy is suitable for most small and medium sized businesses. It is by no means the only type of insurance that they should consider.
““Having the right insurance will help protect your business and minimise its exposure to risk. This may include insuring your business, your income and your commercial risk””
Some businesses may require additional insurances such as Professional Indemnity Insurance, Cyber Risks Insurance, Management Liability Insurance, Contract Works Insurance, Pollution Liability or Workers Compensation.
Some businesses may require specialised policies that are better suited to their industry such as a Motor Traders Insurance policy for the Auto Trade industry, a Contract Works Insurance policy for the construction industry, a Farm Insurance policy for primary producers and Agri Business, or, a Transport Insurance policy for Truck and Transport operators.
What is not covered?
There are exclusions in most business insurance policies and there is of course an excess that you would need to pay in the event of a claim. Some policies are endorsed (or changed) in the policy schedule to improve the cover or exclude cover further.
Every insurance policy has a policy wording booklet called a product disclosure statement or PDS which contains the finer print on what is covered, what is excluded, and how you would make a claim. This is why each insurer will tell you to read the PDS before buying their product. It is in this policy wording booklet that you will also find the very important definitions. The definitions might be different between insurers, for instance on a Motor Vehicle policy one insurer might define Agreed Value as the ‘maximum amount they will pay’ where another might define it as ‘the amount we will pay’, the difference might seem subtle but the first one isnt a fixed true agreed value, only the second one is. It is therefore important to read each policy and definition if you are arranging your own insurances or call a broker like us and we can help you understand your cover.
For any policy you arrange for your business, be sure to read both the Policy Wording and the policy schedule together.
Are all Business Insurance policies the same?
The exclusions, excesses, and endorsements can vary greatly between insurance policies.
This means in most cases when you have two quotes, you are comparing apples and oranges. Whilst the schedules may look similar, the headings might have similar names or, the sums insured may be similar; each Business Insurance policy will be quite different between providers in most cases.
The old adage that you get what you pay for is quite relevant when it comes to insurance. There are a lot of direct policies that provide you cheap solutions but you wont really know what you have insured for until there is a claim. That’s where we are different. We help our business customers understand the risk, understand their options, and, find a policy that is right for them.
If you have an alternative quote or several quotes and need help understanding the differences, we work for you, not the insurance company. We can help you with a Policy Comparison if you need help understanding the difference between a policy we have quoted and another you have received.
We have unique policies that are especially suited to small businesses which take out the hassle of arranging business insurance. To arrange your business insurance quote, click here.
Some businesses require certain types of insurance to be compliant with industry standards. There are some industries that we specialise in, these industries are listed in the business insurance menu, if your industry is listed in the menu, you may find more specific advice on that page.
Where are we located?
We are part of Oracle Group Insurance Brokers with offices located at the Erina Fountain Plaza on the Central Coast of NSW. You can find out more about our office here: Central Coast Insurance Brokers
Whilst you are always welcome to come to us, we also can arrange to come to you so that we can see your business first hand. We can also meet with you online via Microsoft Teams to virtually walk through your business. The more we know about your business, the better advice we can provide to you.
We’re here to help, you can call us on 1300 429 707 or request a call back.
Oracle Group Insurance Brokers also have offices in Burleigh Heads on the Gold Coast of QLD, Hawthorn and Monbulk in VIC, and in Balcatta WA. where is my closest oracle group insurance broking office.
Looking for a broker closer to you? Oracle Group Insurance Brokers also have authorised representatives in other areas that might be closer to you. Find an Insurance Broker near me