Small business insurance Brisbane

BrisbaneBrisbane is home to a large and diverse range of small businesses.

From cafes in New Farm to manufacturers in Darra, and everything in between, Brisbane is home to a thriving small business community.

It’s important to protect these businesses, and one of the most effective ways of doing so is with insurance.

So what do you need to know about insuring your business?

Importance of insurance

As small business owners we all know just how much work it takes to build and maintain our businesses.

We put huge amounts of effort into growing our businesses and building up financial security for ourselves and our families.

We also understand the importance of protecting our businesses and doing everything we can to reduce the risk of things going wrong.

But there are certain things that our out of our control.  No matter how much care we take, there are some things which are going to happen regardless of what we do.

This could be anything from a car crashing through the front of your restaurant to the recent floods that ravaged parts of Brisbane in 2011 and 2013.

And this is where insurance comes in.

Insurance is there to help your small business when things go wrong.

Small businesses (and their owners) arguably have more to lose than any other business type when it comes to things going wrong.

If a big business suffers a major loss it might put a small dent in their quarterly profit, but the same loss could be catastrophic for a small business, sending it and its owner bankrupt.

It’s just not worth putting all of the blood, sweat and tears into a small business if there a chance that you could lose it all.

Especially if you lose it all to something which could have been covered by insurance.

Using an insurance broker

When considering small business insurance there are two main options.  You can go directly to an insurance company, or you can use an insurance broker.

Here in Brisbane there are plenty of options either way.  You could use a local insurance company such as Vero, or you could use a local insurance broker.

The better option for small business owners is generally to use an insurance broker.

Why is this?

Because an insurance broker has the skills and knowledge, not to mention the qualifications, to provide you with personalised advice on your business insurance needs.

By going to an insurance company directly you will be able to obtain quotes easily enough, but generally their call centre staff are unable to provide personal advice to you.

An insurance broker on the other hand can analyse your small business and come up with a set of recommendations that suit your own personal needs and objectives.

When choosing an insurance broker it’s important to choose one who knows your business.

Choosing a broker whose office is just down the road might be convenient, but if they have limited experience with your type of business it might not be a great match.

By using a broker who knows and understands your business and your industry you are giving yourself the best chance of obtaining the right coverage at the right price.

More information

For more information on small business insurance in Brisbane please speak with an insurance broker.

If you do not already have one you can try the ‘need a broker’ service offered by NIBA, which is the National Insurance Brokers Association.

We also have a range of articles on our website which you can read, however please remember that online guides and articles are no match for professional advice.

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.