Most Australian businesses need some combination of these covers. Which ones apply depends on your industry, structure, employees and client relationships.
🏛️Public Liability
Covers your legal liability if your business causes injury or property damage to a third party. Standard limits are $5M, $10M or $20M. Often required by venues, councils and client contracts.
Who needs it: Almost every business that interacts with clients, customers or the public
📋Professional Indemnity (PI)
Covers claims arising from your professional advice or services causing a client financial loss. Claims-made basis — your policy at the time of the claim matters, not when the work was done.
Who needs it: Consultants, IT professionals, lawyers, accountants, architects, designers, advisers
👷Workers Compensation
Legally mandatory if you have employees. Covers medical costs and lost income if an employee is injured at work. State-based schemes: WorkCover NSW, WorkSafe VIC, WorkCover QLD, SafeWork SA and others.
Who needs it: Any business with employees. Rules vary by state — check your obligations
🏢Business Interruption
Covers lost income and ongoing expenses if your business can't trade due to an insured event (fire, flood, etc). Indemnity period of 12–24 months recommended. Commonly under-insured.
Who needs it: Any business with significant fixed costs or that can't survive without trading income
🔒Cyber Insurance
Covers data breach costs, ransomware, business interruption from cyber events, regulatory fines and notification costs. One of the fastest-growing insurance categories in Australia.
Who needs it: Any business storing customer data, relying on IT systems or handling online payments
🏭Commercial Property
Covers your business premises and contents — equipment, stock, fit-out. Often bundled into a Business Pack with public liability and business interruption for better value.
Who needs it: Businesses that own or lease premises, hold stock or have significant equipment
👔Management Liability / D&O
Protects directors, officers and the company from claims related to management decisions and employment disputes. Covers legal defence costs even if claims are unfounded.
Who needs it: Private companies with directors, boards and employees — especially growing SMEs
🚗Commercial Motor
Covers vehicles used for business. Standard personal car insurance may not cover commercial use. Fleet policies available for 3+ vehicles with potential premium savings.
Who needs it: Any business using vehicles for work — tradies, couriers, sales reps, deliveries
Sole traders & contractors 🛠️
Working for yourself means no employer safety net. Here's what most sole traders and contractors should seriously consider:
Public Liability
Required by most clients and venues. $5M–$10M is standard. Usually the first policy a sole trader needs.
Professional Indemnity
If you give advice or provide professional services, claims can be made years after the work was completed.
Income Protection
No employer sick pay. Income protection pays up to 70% of income if you can't work. Premiums are tax-deductible.
Tools & Equipment
For tradies — cover your tools and equipment against theft and damage. Often affordable as a Business Pack add-on.