There are a few unavoidable expenses that come with running a business. Insurance is one of them.
If you’re in business, chances are you already know that some types of insurance are compulsory, like workers compensation insurance if you have employees. Other insurance types, such as property damage insurance or tax audit insurance, are optional, but provide protection against a wide range of business risks.
The right combination of business insurance policies can reduce financial uncertainty and protect both your own livelihood and that of your employees. Common types of business insurance include business interruption, public and products liability (also known as PPL), property damage, theft, electronic equipment breakdown, machinery breakdown, tax audits, transit and employee deceit.
But there’s no reason to navigate the complicated business insurance landscape alone. A business insurance broker can help de-mystify the process and ensure you end up with affordable, comprehensive cover that meets your needs.
What makes a great business insurance broker?
Whether you need public liability insurance or are looking for the best value workers compensation policy, an insurance broker can provide valuable insights.
Here’s what to consider when choosing one:
- Qualifications and experience. Don’t be afraid to ask about your broker’s educational background and qualifications. They should have an Australian Financial Services Licence and be either a Practicing Insurance Broker (QPIB) or Certified Insurance Professional (CIP).
- Value for money. The best business insurance isn’t necessarily through the cheapest provider. Do your research to ensure that you’re getting comprehensive cover for a competitive price.
- Specialist business knowledge. The broker you choose should have extensive experience with business insurance products.
- A tailored approach. If you’re not an insurance expert, it’s okay to not know exactly what you need in an insurance policy. A talented broker will work with you to understand your requirements, and help you find a policy that covers exactly what your business needs – and nothing it doesn’t. Look for a broker that will pick and choose sections of cover based on the unique requirements of your business.
- Honesty and integrity. Do your homework about the broker you’re considering. Have they been in business for a long time? What do other businesses say about their services? Are they committed to being honest and transparent with their clients?
The top business insurance brokers in Canberra – according to you
RiotACT’s editorial team has combed through 19 years of on-site comments to compile a list of the most recommended businesses according to you.
To be listed in our Best of Canberra series, each business needs to have consistently received positive feedback on RiotACT and Facebook as well as maintaining a minimum average of 4/5 stars on Google.
It’s no secret that buying business insurance can be confusing. That’s why allinsure makes insurance clear and easy to understand. Its Fyshwick-based team offers custom-designed insurance packages to suit your business, with a focus on delivering superior client service and fostering strong, long-term relationships.
allinsure is a corporate authorised representative of Insurance Advisernet, one of Australia’s largest networks of independent insurance advisers. This relationship provides financial strength, business efficiencies and buying power that spans every major insurer in Australia and New Zealand, as well as major overseas insurers when required.
Here’s what one business client, N&J Dahl Pty Ltd, had to say about its experience with allinsure: “The service we’ve received from allinsure has been nothing short of impeccable. Right from the start, Tate and his team spent a great deal of time getting to know us and our business structures to ensure we’re able to run safely and securely…their proposed changes meant less policies to keep track of and a significant cost saving.”
JV Business Insurance can help you with all things related to business insurance, from ACT workers compensation to professional indemnity, business insurance and liability insurance.
Based in Weston Creek, JV Business Insurance is a corporate authorised representative of Insurance Advisernet Australia, which means it has the buying power to offer competitive premiums from a range of insurers.
Based in Fyshwick, Capital Insurance Brokers can help you with a wide variety of business insurance options. Its dedicated and qualified team are experts in seeking the best terms that suit your needs, ensuring that your business insurance portfolio is cost effective, and presenting the terms to you so you know exactly what you are and aren’t covered for.
Capital Insurance Brokers can assist with everything from professional indemnity insurance and directors and officers liability cover, to tax audit insurance and corporate and domestic travel insurance.
With 20 years of experience in the insurance industry and a passion for providing high quality service, Jamie Fluke and the team at Strive Insurance Services provide business and personal insurance services, including business insurance packages made up of various types of cover depending on your business’ unique needs (i.e. fire & perils, business interruption, burglary/theft and goods in transit).
Strive Insurance Services is an authorised representative of NAS Insurance Brokers, so it has access to wide range of competitive insurance products. By getting to know you and your business personally, Jamie makes sure you get the insurance cover you really need.
Your experience buying business insurance in Canberra
Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.
Have you had experience with any of the business insurance brokers listed above? If so, share your feedback in the comments below.