Newsroom and Blogs

What Business Insurance Does My Small Business Need?

Blog Single

Finding the right commercial property insurance products for your small business or home based business is very important. The best place start for commercial insurance quotes is with an insurance broker such as Insure Online.

Having the right business insurance cover will help protect your business assets, stock and cash flow. Your business insurance NZ should cover the most common types of legal liability, defence costs and legal costs that could occur.


Business Assets Insurance

This type of property insurance from a good insurance company insures your commercial property. It covers equipment, machinery, stock, fixtures and fittings, and your business premises. It covers losses from events such as fire, theft and storm. Additional optional commercial insurance nz cover can be purchased to insure for natural disaster. This covers earthquake, tsunami and geothermal activity.


Business Interruption Insurance

A big concern of any business owner is their ability to continue after a large loss. Business interruption insurance covers a reduction in your business income and profits after your assets have been damaged. Business interruption insurance will cover costs that are likely to continue when you are unable to trade. It will help your business survive a financial disaster.


Liability Insurance

There are three types of liability insurance to consider. The first is public and products liability. This is also known as general liability. It covers you when you injure a member of the public, such as a customer. It also covers financial losses arising from damage to their possessions. Possessions can be damaged when left with your business for repair or maintenance.

The second is statutory liability insurance. This cover legal costs to defend your business under various Acts of Parliament. These include proceedings before a Human Rights or Privacy Review Tribunal. It pays fines imposed and covers legal costs to defend your business.

The third one is related to the health and safety of your employees. Employers' liability insurance covers mental injuries not accompanied by a physical injury and nervous shock or fright (which can often cause heart attacks and strokes). It also covers diseases brought on over time such as chemical poisoning and exposure to the elements or extremes of temperatures.


Choosing Your Insurance Solutions

Insurance is tailored to your needs. A "one size fits all approach" is no longer appropriate or applicable when purchasing insurance online. Business owners can decide which insurance covers and how much cover they want to protect against loss or damage.


More Information

We ask that every sole trader and small business owner read the policy wordings for all types of insurance. They contain more details, including terms and conditions and which limits and exclusions apply.