Compare quotes for business insurance in Western Australia from a range of providers here with Savvy.
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Business insurance can be an important safety net for a wide range of Western Australian businesses, whether small, medium or large, across a diverse array of industries. It can offer owners and operators greater peace of mind that they may be able to claim for part or all of the cost of circumstances which qualify for coverage under their policy.
You can compare quotes from a panel of leading insurers in one place with Savvy. Whether you’re running a large company in the centre of Perth or a small business in Margaret River, consider a variety of business insurance offers through us and get a free, no-obligation quote today.
As you may expect, a business insurance policy is tailored more to the needs of businesses and designed to cover risks they may face on a day-to-day basis. It’s important to understand the differences between the various types of coverage (with all inclusions being subject to your insurer’s terms and conditions). Some of the main policies on offer include:
Public liability insurance
Public liability insurance can cover your business if a member of the public is injured or their property is damaged as a result of your business activity, subject to the terms and qualification criteria set by your insurer. Owners and operators can generally choose between claim limits of $5 million, $10 million or $20 million, though you may be able to access more in certain situations.
What it covers:
Product liability insurance
Product liability insurance may be able to offer your business protection against claims a product you supplied, whether manufactured by you or imported and sold, caused harm to a third party or damaged their property. You may find available claim limits similar to those offered under public liability insurance.
What it covers:
Professional indemnity insurance
Professional indemnity insurance can offer cover against claims the advice you gave or service you provided was negligent, sub-standard or caused loss or harm. It may also cover circumstances such as mistakes, incorrect diagnoses, miscalculations and breach of duty. Cover can start at $250,000 and may go up to $10 million (though more may be available by individual negotiation with some insurers).
What it covers:
General business insurance
General business insurance is an insurance package which can offer coverage against other risks, such as those facing your physical business premises and assets. The coverage this type of insurance offers is broader than other, more specific types of insurance.
What it covers:
Because this is a bundle, you may also be able to add policies such as public liability and professional indemnity cover into the one package with some insurers. Additionally, some of the other types of insurance which you may also be able to add to your general business insurance package include:
Accident and sickness insurance
Accident and sickness insurance can cover self-employed individuals who are injured or suffer an illness which prevents them from working and earning a living. Unlike the other types of cover listed above, an accident and sickness insurance benefit is an ongoing payment worth up to 85% of your income (depending on your insurer’s terms and conditions) made over either one or two years (your chosen benefit period). You’ll also have to choose a waiting period to sit before your benefits commence, which generally ranges from seven to 28 days.
What it covers:
What isn’t covered by business insurance in WA?
There are several common exclusions which may apply to business insurance policies. These may include:
There are several variables which insurers will account for when determining how much your premiums will cost, including the following:
Perhaps the most notable is the type of work you do. Insurers assess industries based on the different levels of risk they pose, meaning you may pay more for public liability insurance if your business runs market stalls compared to one which has no physical premises for customers to visit, as there’s a greater inherent risk of injury, illness or property damage with the former.
Additionally, your location within WA may also inform the cost of your insurance. For instance, business insurance in Perth, particularly in busy areas, may be more expensive than for a rural business with far lower foot traffic.
Some of the key comparison points to consider when choosing a policy for your WA business are:
You can compare a range of insurers from our partner’s panel when you fill out a simple, no-obligation quote form with Savvy. Tell us about your business and the type of coverage you’re after and you’ll have a variety of offers to consider side-by-side in one place.
Almost all businesses will face risks which can be covered by at least one type of insurance, if not more. Some of the workers and businesses who may need insurance in WA include:
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Disclaimer:
Savvy is partnered with BizCover Pty Ltd (ABN 68 127 707 975, AFSL 501769) to provide readers with a variety of business insurance policies to compare. Savvy earns a commission from BizCover each time a customer buys a business insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via BizCover.
Savvy does not compare all business insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
For any further information on the variety of insurers compared by BizCover or how their business works, you can read their Financial Services Guide.
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© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
