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Business Package Insurance for Small & Medium Businesses

Whether you are currently running a small business or planning to start one, business pack insurance can protect your business from multiple risks with one policy. Speak to our team today to arrange cover tailored to your business.

What is business package insurance?

Business package insurance combines multiple types of insurance under one policy. It is also known as a ‘business pack’ or ‘bizpack’. It is designed to provide owners of small and medium-sized businesses an easy and affordable way to secure general protection against the main risks involved in running a business.





What does business package insurance typically cover?

We can arrange business package policies to provide protection across a number of different areas tailored to the needs of your business.

Material Loss or Damage

Designed to help cover the physical loss or damage to your business assets (e.g. building, contents and stock), at your premises from certain sudden, unexpected or unforeseen occurrences or perils (e.g. fire or storm damage). Note that flood cover is typically excluded from standard products.

Business Interruption

Helps cover loss of income to your business as a result of material damage to your property and can assist with the additional costs required to return to normal business operations following an insured event.

Glass

Helps cover for the costs of replacing internal or external glass that is accidentally damaged or broken (e.g. windows including advertising signs).

Burglary

Helps cover loss of your contents and stock due to theft from forcible and violent entry to your premises.

General Property (Special Risks)

Designed to help cover loss or damage to portable property (e.g. laptops or tools).

Employee Dishonesty

Designed to help cover loss of money or contents caused by theft, fraud or dishonesty by your employees.

 

Public and Products Liability

Public liability can help cover a small business if their business incurs legal costs because a third party (e.g. customer or member of the public) sustains property damage or personal injury due to the small business’ operations and negligence. Product liability helps protect a business if it has sold, supplied or delivered goods which have caused injury, death or damage.

Money

Designed to help cover your business' money whilst on your premises and in transit.

Machinery Breakdown

Designed to help cover mechanical breakdown of machinery equipment at your premises (e.g. air-conditioning units, refrigeration equipment).

Electronic Equipment

Helps cover breakdown of electronic equipment at your premises (e.g. computers, photocopiers, POS).

Tax Audit

Helps cover accountants’ fees in connection with an audit of your business conducted by an authorised authority such as the Australian Taxation Office.

Commercial Motor

Helps cover the cost of damage to a business vehicle or third party property in the event of an accident.

Goods in Transit

Designed to help cover the loss or damage to goods and stock that your business buys, sells or uses whilst they are in transit, in a vehicle owned or operated by you.



Who is business package insurance for?

A business pack is designed to suit the needs of small and medium-sized businesses. It offers affordable general protection from the main risks involved in running a business.

Marsh can help arrange business package insurance for business owners across most industries. Speak to your advisor or get in touch to arrange a quote for your business. .

What is not covered by business package insurance?

Policy inclusions and coverage limits will vary between different insurers and different policies.  

Depending on your industry and specific business activities, you may also need to arrange other types of insurance. For example, a business package does not include workers compensation or professional indemnity cover.

Examples of other typical exclusions:

  • Fraud or dishonesty
  • Cyber incidents
  • Flood damage

To learn more about exclusions, deductibles, excesses and limits that may apply to your specific policy, speak to your insurance broker or read the product disclosure statement. 



Tips when reviewing your business insurance

  • It is important to review your business package policy on an annual basis to ensure that your insurance coverage remains fit for purpose.
  • You must tell your insurance broker about all relevant business activities to ensure you get the right level of cover.
  • Be careful not to compare insurance policies solely on premium. Insurance providers can base a premium on the risks they take on and sometimes a lower premium can be an indication of a higher number of exclusions, which reduce the risk for insurers but could leave your business exposed.
  • If in doubt, ask. If you have questions that aren’t answered here, contact your insurance advisor or get in touch to ensure you thoroughly understand the insurance solution on offer. 



The Marsh Insurance Broker Value

A broker you can trust

Marsh’s team of professional insurance brokers and risk advisors are dedicated to helping small to medium businesses across Australia. We negotiate competitive premium prices and insurance coverage to deliver value to businesses and help to ensure you have the right level of cover.

 

Industry expertise

Our dedicated team of insurance brokers across Australia can utilise their localised industry experience and insights to negotiate competitive premiums and coverage to deliver value to your business. As part of our service offering, we pair each client with a broker whose experience aligns with the risk profile of their business.

Claims support

In addition to arranging quotes and placing policies, Marsh can also provide claims advocacy and support. Our team can assist you when making claims by helping to manage, negotiate and settle claims with insurers on your behalf. At every step of the way we strive to deliver a simple client experience.








FAQs

Is workers compensation covered by business package insurance?

Business pack insurance does not include workers compensation. If you require workers compensation cover, you will need to arrange this separately.

Speak to your Marsh adviser or find out more about workers compensation here.

Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. Marsh does not arrange workers compensation insurance in those States where there is a government scheme and provides only consultancy services in those States.

Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238369) (“MAI”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of MAI. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh Advantage Insurance on request.