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Ensure you’re covered with small business insurance
As a small business owner, you face change all the time. In the ever-evolving world of business, being well-protected against unforeseen risks is not just a good idea; it’s essential.
Whether you’re just starting out or you’re looking to strengthen the safety net of your established business, understanding the ins and outs of your insurance options can be daunting. We’re here to simplify this complex landscape and find the right insurance policy for your needs.
From liability risks to property risks to business interruption risks and everything in between, our insurance for small businesses ensures you’re protected from anything that comes your way.
What can small business insurance cover?
No matter the size of your business, we offer solutions for many types of small and medium-sized businesses including training and education, finance and mortgage brokers, allied health and health practitioners, professional services, real estate, restaurants and café, retail and shops, domestic services and repairs, trades and contractors.
Property Cover
Public and Product Liability
Management Liability
Professional Indemnity
Equipment Breakdown
Workers’ Compensation
Cyber Risks
Goods in Transit
Glass
Money
What’s at risk?
Property and Asset Protection
A comprehensive small business insurance policy protects against financial losses due to damage or destruction of business property. This includes buildings, equipment, tools, inventory, and furniture. Whether it’s from fire, storms, theft, or vandalism, having this insurance helps businesses repair or replace essential physical assets without bearing the entire cost burden. It also often extends to damages caused by unexpected events like flooding or earthquakes, depending on your policy specifics.
Liability and Legal Defense
Liability insurance is crucial for protecting your business against claims that it caused bodily injury or property damage to others. This could include customer injuries at your premises or damages caused by your products or services.
Professional liability (or errors and omissions insurance) is particularly important if your business is service-oriented. It covers claims of negligence, misrepresentation, or failure to deliver a service as promised.
These policies typically cover legal defence costs, court fees, and any settlements or judgments, protecting your business from significant financial losses due to lawsuits.
Operational Continuity
Business interruption insurance compensates for lost revenue and helps cover operating expenses if your business is temporarily unable to operate due to a covered disaster. This is vital for maintaining financial stability during periods of forced closure or reduced operation.
Cyber liability insurance is increasingly important as we rely more and more on digital operations. It covers any costs you might encounter in relation to data breaches, including customer notification, credit monitoring services, and legal fees related to cyber incidents.
Employee-related Coverage
Workers’ compensation insurance is essential for covering medical treatment, rehabilitation costs, and lost wages for employees injured on the job. It protects your business from direct financial liabilities related to workplace injuries.
Insurance covering employee dishonesty and crime also protects your business from financial losses due to acts like theft, fraud, or other criminal activities by employees. This is particularly important if your business handles cash or sensitive information.
Need to make a claim?
Don’t worry – we’re here to help. Follow these steps to ensure a smooth claims process.
1. Gather information
Collect your essential information, including your policy number, insurer’s name, and agent’s contact. Be ready to describe the incident type, damage or loss, how it occurred, any witness, and any additional documentation or photos if available.
2. File your claim
To file a claim, contact your insurer and provide your policy number. The claims adjuster may request more information or documents, and some insurers offer online claim forms for quick submission.
3. Review and negotiate the claim
Once you file your claim, the insurer will respond within ten business days. If approved, expect a settlement offer that may be lower than anticipated. If denied, they’ll provide a reason, and you can appeal with legal guidance. Keep all related documents for future reference, and if your claim is approved, move forward accordingly.
4. Get the payment
After settling, expect a payment from the insurance company. For inquiries or claim status updates, contact your insurer or broker. In exceptional cases, like catastrophes, the process may extend up to 12 months, but you can still inquire about your claim’s status.
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Why GSK Insurance?
Partnering with GSK Insurance Brokers for small business insurance means partnering with an experienced, trusted team that puts you first.
40 years experience
With over 40 years of experience, we’ve seen it all – and that’s why our customers trust us to provide them with the best insurance solutions for their unique needs.
Tailored Insurance Packages
Don’t settle for a one-size-fits-all insurance plan. Our tailored courier insurance ensures that you get the coverage you need to keep your business running smoothly.
Instant Quotes
Get the coverage you need, fast. With our instant quotes, you can find out just how affordable insurance can be, in just a few clicks.
Australia Wide Cover
From the outback to the coast, our Australia-wide cover means that you’ll always have the peace of mind you need to operate your business with confidence.
Competitive Pricing
Why pay more than you have to for insurance? Our competitive pricing ensures that you get the coverage you need at a price you can afford.
Excellent Customer Service
We believe that great customer service is the foundation of GSK Insurance. That’s why we go above and beyond to provide you with the support and guidance you need to make informed decisions about your insurance coverage.
Frequently Asked Questions
What is small business insurance?
Small business insurance is a general term for various types of insurance policies designed to protect businesses from financial losses due to unforeseen events, such as accidents, natural disasters, theft, and lawsuits.
Do I need small business insurance?
Insurance is essential for small businesses to mitigate financial risks associated with property damage, legal claims, employee-related risks, and other expenses that can be financially devastating.
What types of insurance should a small business consider?
Key insurance policies you might want to consider include general liability insurance, professional indemnity insurance, and cyber liability insurance, among others.
What's not covered by small business insurance?
The exclusions that will apply to your small and medium business insurance package will depend on your specific policy and it’s important that you understand the cover limitations. For more information, speak to your GSK broker.
What happens if I don't have small business insurance?
Operating without insurance can expose your business to significant financial risks, including paying out of pocket for lawsuits, property damages, or other liabilities.
Is small business insurance legally required?
Some types, like workers’ compensation and certain liability insurances, are legally required in many places, but requirements can vary by country, state, and industry.
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Small Business Insurance by GSK Insurance
For more information about small business insurance, contact GSK Insurance Brokers today.
Courier Hotline: 1300 220 212
Courier Email: [email protected]
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