Small Business Insurance

Small Business Insurance

As a small business owner, you’re most likely a risk taker. But when it comes to protecting your business from the unexpected, it isn’t very wise to risk it.
Using your insurance to safeguard your assets and work family is making sure you have the best interest of your business at heart. This means being confident in the small business insurance policies you have.

What can I cover with Business Insurance?

Running a small business is stressful enough. Public Liability insurance gives you the peace of mind of knowing you’re protected in the event that your business is legally liable for property damage or personal injury.

Why do I need Public Liability cover?

We live in a world where people sue businesses for all sorts of things – you may become legally liable when third parties slip and fall at your business and sustain an injury, or when faulty products cause property damage or injury. Being protected against potential personal injury claims can be vital for some small businesses.

Sometimes claims can run into hundreds of thousands of dollars, that’s why Modern Risk Solutions can tailor a range of easy-to-understand Liability solutions and select the right cover for you.

These options include Products Liability, which is often included when purchasing Public Liability cover.

You can choose cover for up to either: $5,000,000, $10,000,000 or $20,000,000 (please note that the Product Liability is capped per period of insurance). Plus, you can choose to be covered for damage to property while in your physical or legal control up to $250,000, depending on your occupation.


Commercial Motor insurance is designed to help your business cover the costs that may arise from events such as accidental damage to, or theft of, your business vehicles.
Do you use your personal vehicle for business use? Your personal car insurance may not cover you for damage to other cars or your own vehicle that occurs when used for business purposes. Check your personal car policy to see if you are covered

If the tools and equipment you rely on to run your business broke down, or were stolen, how would you cope?

General Property

We know how important your tools and equipment are to your success. From hammers and drills to phones and laptops, most small businesses would struggle to continue working without them.

General Property offers the reassurance of worldwide coverage (unless otherwise noted) for your tools and equipment, as well as the accidental loss and damage of any portable tools and equipment used in the course of your business. It also covers items at customers’ sites or taken home by your employees.

Electronic Equipment

Electronic Equipment cover is best suited to businesses that need to insure computers and electronic equipment at their business premises, but not for those looking to insure against accidental damage or loss. For damage or loss cover, please consider General Property or Material Damage

Machinery Breakdown

If your business relies on specific machinery to function, you need to know it’s covered. This cover will allow you to have the machinery repaired or replaced, and also provides optional cover for deterioration of stock as a result of the machinery breakdown

Personal Accident and Sickness cover

You can cover yourself against injury or illness with Personal Accident and Sickness insurance. This includes cover against death and permanent injury or disablement with a capital sum insured

Events which are covered include:

  • Accidental Death
  • Accidental Permanent Disabling injury
  • Temporary total or temporary Partial Disablement as a result of an Accident

As you build up your business, it pays to protect your business property. Whether it’s the bricks and mortar, windows, contents or stock, we have covers available to allow your business to keep going should an insured event occur.

Material Damage

Material Damage cover safeguards against damage caused by any sudden, unexpected or unforeseen occurrences to property insured and not otherwise excluded. With this cover, you can rest assured that your critical assets are protected, enabling you to rebuild your business


Theft from businesses comes in many different forms. We have a range of cover options, and you can choose the amount insured to suit your business needs


When it comes to glass, every business has varying needs, from windows, to office partitions to advertising signs.

Internal glass includes:
Cover against items such as showcases, shelves and counters.

External glass includes:
Fixed glass and/or perspex, as well as plastic materials used in external windows, doors and skylights


We understand there are additional risks involved when you are transporting your stock or goods. Transit cover can help in events such as fire, or the vehicle overturning while in transit.


We give you options to cover your cash whether you keep it onsite, both during and outside business hours, as well as covering money in transit.

Cash flows. Business Interruption cover is designed to help you if you find yourself in a situation where circumstances outside of your control start impacting on your ability to operate. It allows you to continue paying your bills until you’re back up and running – and also covers your money, protects against management liability claims and provides professional indemnity coverage

Business Interruption

If, due to a defined event you cannot continue to trade as usual, your business income may cease – or be significantly decreased – for a period. But there may still be loan repayments to make, employees to pay, and key customer accounts to manage. Adding cover for Business Interruption may offset the losses to your business during this time and help get you back on track faster

Management Liability Cover

Litigation is increasingly common, so it’s important to protect yourself against actions by your Directors, Officers and Staff

Tax Audit

If your business tax returns are audited by the ATO, or by a Commonwealth, State or Territory department, the resulting accountant’s fees can be both overwhelming and unexpected. Tax Probe Plus covers the cost of these professional fees, enabling you to stay in business while staying on top of the audit process

If you’re audited, this policy can cover professional fees associated with tax audits, investigations, examination or review undertaken in respect of the following designated taxes:

  • Income Tax Assessment Act 1997 (Cth);
  • Fringe Benefits Tax Assessment Act 1986 (Cth);
  • A New Tax System (Goods and Services Tax) Act 1999 (Cth);
  • Superannuation Guarantee (Administration) Act 1992 (Cth);
  • Termination Payments Tax (Assessment and Collection Act) 1997 (Cth);
  • Sales Tax Assessment Act 1930 (Cth);
  • Sales Tax Assessment Act 1992 (Cth); or
  • any law of an Australian State or Territory relating to payroll tax
Small Business

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