Small Business Insurance NSW

NSW Public Liability InsuranceNew South Wales is a great place to run a small business.

Whether you operate in the heart of Sydney or out in regional NSW, it’s important to ensure your business is properly protected.

So many things can go wrong in business, and arguably small businesses have more to lose than their larger peers.

This guide will run through some of the important steps in obtaining business insurance in NSW.

Getting quotes

There are a couple of different options when seeking quotes on small business insurance.

The traditional route was to contact a local insurance broker, or to contact insurance companies directly yourself via their call centre or website.

Increasingly small business owners are using online services to obtain quotes.  This is sometimes via the insurance company’s own websites, but the growth of comparison website cannot be ignored.

These comparison websites can be useful, but if you’re running a small business it’s probably a better idea to seek professional advice.

Getting advice

If you want expert advice on your small business insurance the best option is to speak with an insurance broker.

Insurance companies themselves cannot give you advice.  Their staff can speak to you about insurance, but they cannot provide personal advice or recommendations.

Although once upon a time you would need to use a local broker who you could meet with face-to-face, electronic communication is changing this.

Thanks to the internet, email and phone you can deal with a broker anywhere in Australia, rather than having to use a broker in Sydney or elsewhere in NSW.

Getting cover

Once you’re happy with the quotes you’ve received, and the advice you’ve received if applicable, the next step is to get your cover in place.

If you’ve contacted an insurance company directly you will simply take out the insurance with them.  This can generally be done over the phone or via their website.

If you’ve used a broker for the quotes (and possible advice) then you’ll need to contact them to proceed with the cover.

This can also be done over the phone or via email in some cases.  There is generally no need to meet with the broker in person.

So no matter where you are in NSW, getting quotes, advice and cover on small business insurance is as simple as picking up the phone or doing a Google search.

For more information please check out the other articles on our website, or follow this link to our online insurance quote form.

Sydney Cafe Insurance

Coffee beans

When operating a cafe in Sydney there will be a range of business insurance types required.

One of the most important is public liability, and that is the one this article will focus on.

Some of the topic we’ll be looking at include what the policy covers, how much it costs and why it’s important for your cafe.

What does it cover?

Public liability insurance will cover your cafe business in the event that your business activities result in property damage or personal injury to another person.

A common potential claim for a cafe is the classic ‘slip and fall’.  If a customer was to slip or trip in your cafe and suffer an injury, you could be found liable for their costs.

Another potential claim which is less common, but still worth knowing about, is that of coffee and hot drink scalds and burns.

If you were found to be liable and responsible in any of these cases, your public liability insurance policy would cover the costs of a claim against you and your business.

What are the costs?

The cost of public liability for a cafe in Sydney will generally be quite low, especially when included in your overall cafe insurance package.

In terms of what will impact upon your costs, generally it is a case of the larger the business the more expensive the premium will be.

The insurer will look at factors such as the number of staff, your annual revenue and the number of seats in your cafe when determining your premium.

Why do cafes need it?

It’s all about protecting yourself and your business from the costs of a claim against you.

If you are found to be responsible for someone’s loss and therefore liable to pay their costs, the money involved can be huge.

A small claim for a customer who has sprained their ankle whilst in your store may not send you broke, but if that client was to suffer a serious back injury which affected their ability to work then you could be up for hundreds of thousands.

Whilst a typical cafe owner in Sydney may not have a spare couple of hundred grand laying around, your insurance policy can cover you for anywhere from $5 million to $20 million.

Get a quote

To get a quote on your insurance please complete our public liability quote request form.

You have worked hard to build your cafe business, so don’t risk not having the right cover in place.

NSW Insurance Providers

NSW Public Liability InsuranceAs a business owner you are free to insure your business with whoever you choose.

But if you’d prefer to insure with a company that is headquartered here in New South Wales, the list does shrink slightly.

Thankfully there are plenty of big and reputable insurers based in NSW however, and in this guide we’ll run through some of the major firms offering public liability and other forms of business insurance.

Allianz

Allianz are headquartered in their home country of Germany, but here in Australia their head office is located on Market Street in Sydney.

The global insurer has been operating in Australia for many years and employs thousands of locals both in Sydney and in other offices around the country.

Allianz offers a range of business insurance products including public liability, general property and business interruption to name a few.

QBE

QBE is one of Australia’s largest insurance companies, and their head office is located on Pitt Street in the heart of Sydney.

They offer a full range of insurance products for both domestic and commercial uses.

Zurich

As is the case with Allianz, Zurich are another insurer which is based overseas but have their Australian head office in Sydney.

Zurich have operated in Australia since 1961 and their head office is on Blue Street in North Sydney.

Zurich are one of the few insurers operating locally who can offer both general insurance products (such as public liability) and life insurance products (such as income protection and term life insurance).

Others

There are other smaller insurance companies headquartered in Sydney, but the above list is all about the major insurers.

There are other major insurance companies based in Sydney such as AMP and OnePath, however these are life insurance companies and do not offer business cover such as public liability.

If you would prefer to deal with a NSW based insurer, simply let your broker know and they will be happy to assist with your request.

Public Liability Insurance Sydney

Sydney Public Liability InsuranceFor businesses located in Sydney and elsewhere in NSW, public liability insurance is one of the most important ways of protecting themselves.

Almost all Sydney businesses can benefit from the protection that public liability provides.  It covers a range of risks and can reduce the financial impact of such risks on businesses and their owners.

There are many different insurance types which businesses and self-employed people can benefit from, and public liability is certainly one of the most common.

Public Liability Explained

Public liability is a special form of business insurance which covers the financial costs that arise from certain events which you are legally liable for.

If your business causes property damage or personal injury to another person such as client or member of the public, ordinarily you would be liable for their financial loss or damage.

With the right public liability insurance policy in place, your insurance company will cover the costs instead of having to meet those costs out of your own profits.

Not all events are covered by public liability insurance and there are some important exclusions, however many of the risks that Sydney businesses face each day will be covered.

Public Liability Cost in Sydney

The cost of public liability insurance in Sydney will vary for each business based on a range of factors.

The biggest factors in the cost of public liability include the type of work which is undertaken by the business, and the size of the business in terms of revenue and staffing numbers.

Other factors influencing the cost include the areas you work in, especially for higher risk areas such as airports, railway stations and anything to do with mining.

Generally a business will pay no more or less for their insurance just because they are based in Sydney, however some insurers do vary their premiums based on the geographical location of the business.

Quotes for Public Liability

There are dozens of insurance brokers located in Sydney who can assist you with a public liability insurance quote, however it also possible to use brokers from elsewhere in NSW and even interstate.

If you do choose to use an interstate insurance broker, it is important to ensure they are familiar with any special requirements for NSW businesses.

When comparing quotes on public liability insurance it is always important to compare the features and benefits of each, as not all policies are the same.

For more information on this important form of cover please speak with your local Sydney insurance broker.