There are many different types of insurance available for your business. The insurance that is right for you will depend on many things such as the nature of your business and whether you employ people.

Insurance can be divided into protection for three main categories: assets and revenue, liability, and employees. You should note that worker's compensation is compulsory cover for your employees. Many insurance providers will offer several types of insurance bundled in a package.

• Download the BIZGuide: Types of Insurance (4-page Word doc 124 KB)

Assets and revenue

• Fire and perils
• Burglary
• General property
• Glass breakage
• Electronic equipment
• Machinery breakdown
• Perishable food
• Fusion insurance
• Damage to goods
• Export credit
• Marine insurance
• Fidelity guarantee (Employee dishonesty)
• Loss of money
• Motor vehicle insurance
• Unregistered equipment
• Product recall
• Trade credit
• Business interruption
• Income protection insurance
• Loss of profit
• Key person insurance
• Partnership protection insurance
• Weather

Liability

• Public liability
• Professional indemnity
• Products liability
• Directors and office bearers liability
• Employment practices liability

Employees

• Workers' compensation (compulsory)
• Sole traders and partners (not covered by worker's compensation)
• Personal accident, illness or disability

What’s next...

• Discuss with an SBDC advisor any further questions you may have
• If you are a member of an industry group or association contact them for recommended insurers that specialise in your field, or give special discounts or offers to members.