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One site, countless options

Finding the best insurance for your business needs comes down to weighing up your options. Compare a range of policies online with us.

Cover to suit your business

Whether you’re a well-known company or a small business just opening your doors, you can explore products and features that can protect your customers, suppliers and operations.

Experts ready to help

Ready to learn more about business insurance? Our experts are happy to answer any questions you have about Public Liability, Professional Indemnity, Management Liability and other insurance options.

At no cost to compare

Why go to multiple websites when you can compare a range of business insurance quotes all in the one place for free? Learn more.

Why compare business insurance?

Business insurance is a critical expense, so it pays to get it right. Comparing business insurance regularly can benefit you in several ways by:

  • Reducing costs. Comparing can help you save money by finding a better price for business cover, which will help reduce your overheads.
  • Finding better value. You might find a better policy with more suitable coverage and value by comparing business insurance, giving you extra bang for your buck.
  • Getting the coverage you need. Comparing business insurance makes it easy to weigh up the benefits and make an informed choice on the type of coverage your business needs.

Why not see what we have to offer and compare business insurance today?

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Public liability insurance

Public Liability insurance covers your business for your liability if customers, suppliers or members of the public get injured or have their property damaged while visiting your business, using your services or because of your business operations. It covers the cost of compensation payments and associated legal fees that may result from such situations.

Professional indemnity insurance

Professional Indemnity covers you for legal expenses and any compensation costs you may need to pay if you’re sued by clients for services provided where the client had a negative outcome. It can help safeguard your business against negligence or breaches of duty like accidentally providing misleading or incorrect advice.

Management liability insurance

Management liability can pay for the liable payouts from any resulting lawsuits, fines and legal costs from wrongful acts by management, employee theft and unfair dismissal.

Cyber liability insurance

Cyber Liability insurance is designed to provide financial assistance if your business is hacked, hit with a ransomware attack or suffers a data breach. Specifically, it helps pay for damages to clients, hiring investigators and cybersecurity experts and lost revenue from business interruption.

Statutory liability insurance

This type of cover is designed to provide insurance for legal expenses and liability your business incurs for some fines or penalties issued by a government or regulatory body.

Directors and officers insurance

Directors and Officers insurance can cover companies and individual officeholders in the company for legal defence, inquiries and penalties regarding the business decisions made by directors and officers.

Frequently asked questions

How much does business insurance cost?

The price of business insurance will differ depending on several factors, including:

  • The type and amount of cover you need
  • Your business’ size and annual revenue
  • The industry you’re in
  • Your business’ location.

This is why the amount you pay for business cover will likely be different to what the business across the road from you pays. If you’d like an idea of what you could potentially pay for business insurance, you can complete a quote through our free comparison service and compare a range of policies and prices side-by-side.

How do I compare business insurance policies?

Comparing business insurance with us is easy. It’s a four-step process:

  1. Enter your occupation.
  2. Provide a few details about your business (like revenue and number of employees) and choose which types of business insurance you want to take out.
  3. Add your business address and choose the level of cover you need (i.e. monetary amount) for each type of insurance you selected.
  4. Compare the quotes from our insurance providers.

You can view the policy wording for every quote you compare to get the full details plus terms and conditions before you buy.

How often should I compare business insurance?

It’s a good idea to consider comparing business insurance regularly to make sure you’re getting a good price and coverage that suits. Business insurance policies are renewed each year, so receiving your renewal notice can be a great reminder to adjust your policy – but you can compare any time of the year!

Is business insurance tax deductible?

Yes, the premiums you pay for business insurance can be deducted from your tax as an operating expense, according to the Australian Taxation Office.1

1 Australian Taxation Office – Claiming a tax deduction for other operating expenses. Last updated November 2019. Accessed April 2022.

What's the best type of business insurance?

As business needs will differ between companies and industries, there is no definitive business insurance policy that’s best for every business owner. When taking out business insurance, it’s a good idea to consider the biggest risk factors you should insure against – and the assets you want to safeguard.

For example, if you make a product for sale, Product Liability insurance could help cover your legal liability if customers are injured by your products. If you own an office, you might need Building, Business Contents, and Glass cover for the building’s structure and any business assets or electronic equipment you keep there.

Depending on the policies you choose, business insurance may cover:

  • Insured events like fire, storm damage, property damage on the business premises
  • Business interruptions that cause a loss of income
  • Machinery breakdown for critical tools (suitable for tradies)
  • Tax audits
  • Personal accidents
  • Cyber attacks
  • Lawsuits from members of the public
  • Wrongful acts by management.

Furthermore, some business insurance policies are legal requirements in Australia, depending on the nature of your industry or the company you work for. For example, financial advisors and architects are required to have Professional Indemnity insurance to cover their liability if something is wrong with their professional advice and services to clients.

Does business insurance cover flood damage?

While some types of business insurance can cover the cost of repairs to your building if it’s damaged by storms and rainwater run-off, flood cover isn’t typically included in standard business insurance policies, so you may need to purchase it as an additional extra. It’s important you check the policy’s Product Disclosure Statement (PDS) so that you’re aware of all inclusions and exclusions before taking out insurance.

Does business insurance cover business vehicles?

Most business insurance policies don’t cover commercial vehicles used by the business. Car insurance can cover vehicles for business use, and there are specialised insurance providers that offer commercial vehicle cover for industrial vehicles and company fleets.

What payment options are available?

Generally, you can pay annually or monthly by banking card (credit or debit business cards, for example). If you pay monthly, there may be a small monthly administration fee as well. You’ll be able to select whether you’re paying annually or monthly when using our comparison service to compare the prices available for both schedules.

Stephen Zeller, General Manager

Meet our Business Insurance expert, Stephen Zeller

As our expert on Business Insurance, Stephen Zeller strongly believes in the protection and peace of mind that all types of Business Insurance provide business owners. Stephen says this type of cover can be the difference between a business staying afloat and going under if trouble arises.

With over 30 years’ experience in the financial services industry, including 27 years at the Bank of Queensland, Stephen is Compare the Market’s leading expert in business insurance. He’s also a long-time customer rights advocate and an allied member of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).

Stephen’s top business insurance tips

  1. Review your business insurance often; the provider or policy you started with may not be a great fit as your business grows.
  2. Be certain that you understand what you’re covered for. It’s important to read the PDS or talk to your provider if in doubt.
  3. There are many different types of liability insurance, so take the time to understand what they are and whether your business needs that cover.
  4. Depending on the type of work you do, business insurance may not only be recommended to protect your business, but it may also legally required. Make sure you understand which insurance you must have before you buy.
  5. Prioritise the cover you need over what it costs. You don’t want to be missing critical coverage because you purchased a cheaper policy that didn’t suit your needs.
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