Business Insurance Packages

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, updated on August 1st, 2023       

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We’ve partnered with BizCover to bring you a range of business insurance policies to help you compare them side by side.

Business insurance is one of the most vital protections for any company in Australia. If you’re looking for affordable coverage, you may be considering bundling insurance policies together into one simple package, which can make good financial sense for your business.  

Compare a range of quotes for business insurance packages here with Savvy. Just by answering a few questions about your business, you’ll receive a variety of online quotes for insurance packages so you can compare them side-by-side and pick the best one. Start the process of getting your small business protected here with us today. 

What is a business insurance package?

In Australia, a business insurance package is a type of cover which bundles together several different policies. This includes different types of insurance which, when combined, can offer most of the protection required by small businesses. 

The package you choose can be tailored to the specific needs of your business and you can opt in or out of several elements to ensure you only pay for the cover you require. The beauty of this sort of package is that it can be cheaper to buy one and get all your needs covered in one policy, rather than have multiple policies which could possibly overlap. 

It’s important to compare a range of business insurance options, including packages, before you purchase your cover, which you can do right here with Savvy.  

What types of insurance are usually included in a business package?

Although there are more than ten different sorts of business insurance available, the most common types offered in an insurance package include: 

General business insurance 

This insurance covers you in case any of your business assets are lost or damaged and includes an element of business interruption protection too. The asset and contents protection element typically includes: 

  • Your building – loss and damage due to an insured event such as a fire, storm or severe winds 
  • Contents – including your stock, plant, machinery and furniture at your business premises which are damaged due to an insured event 
  • Glass – including internal and external glass windows and any external signs 
  • Electronic equipment – which can include printers, copiers and computers 
  • Portable equipment – including tools and equipment which may be carried around 
  • Machinery – this covers any specific machinery which may be installed in your business premises when an insured event happens 
  • Goods in transit – which can include any items which are being transported by road in Australia 
  • Employee dishonesty – covers you against any losses incurred as a result of employee dishonesty of your business assets, including money and other valuables 
  • Theft – offers business theft insurance in case any of your assets are stolen 

The business interruption side of things will cover you by paying some of your business expenses if an insured event prevents you from continuing your normal activity. Insured events include fire, storm, theft or impact damage. The bills covered by business interruption insurance can include:   

  • Staff wages 
  • Rent of new business premises 
  • Utility bills 
  • Relocation costs 
  • Supplier invoices 

Public liability insurance 

Public liability insurance protects your business in case any third party makes a claim of injury or illness against you, often for incidents which occur on your business premises. It can cover your legal fees and compensation costs in case of an allegation that your business negligence or activity caused harm, injury or damage to a third party or their property. 

Another common form of insurance for small businesses is product liability insurance. This is a type of policy that offers protection for any products you supply to the public if they’re said to cause harm to a third party or their property, which can also be bundled into a business package if required. 

Professional indemnity insurance 

Just as public liability protects your business from third-party claims, professional indemnity insurance protects you personally against claims that you provided advice or a service that was negligent or that there were errors or omissions in the service you provided. This is a particularly important form of insurance if you offer advice to multiple companies, such as if you’re looking for insurance as a consultant and have numerous clients. 

There are many other forms of business insurance that can be included in a tailored package which is designed to suit your business insurance requirements. Other forms of insurance you may like to bundle together include: 

  • Cyber liability insurance 
  • Management liability insurance 
  • Building and contents insurance 
  • Business assets insurance 

However, one type of insurance which isn’t offered in a small business package is workers compensation insurance. This insurance is compulsory in Australia but is offered by a few specific insurers according to which state you live in. Some states only have one insurer to offer workers comp, while in other states and territories there are several insurers to choose from. You’ll find details about workers compensation insurance through your state or territory government website.  

If you choose to get cover from an insurer who does offer workers compensation, though, it may be possible to have all your insurance with the same company. For example, in the Australian Capital Territory, Allianz is one of the companies offering workers comp insurance under WorkSafe ATC, which also offers general business insurance. 

The pros and cons of business insurance packages


Cheaper than separate policies 

Business insurance packages tend to be cheaper than having multiple separate insurance policies, so you could save money overall by bundling your insurance needs together into one policy.  

Only deal with one insurer 

Rather than taking out several different insurance policies, bundling all your insurance together will mean you only have to deal with one insurer. 

Fewer forms to fill in 

By dealing with just one insurance company, there’ll be far fewer forms to fill in and paperwork to deal with, as well as the fact you won’t have to repeat information to multiple insurance providers. 

Plenty of add-ons to choose from 

You can choose to have a basic package or include multiple options in your policy, so you can make sure you’re only paying for the cover you need. 


Losing no-claims bonus can be expensive 

If you’re with multiple insurers, making a claim and losing your no-claims bonus will only affect one policy. However, if you have all your insurance bundled, losing this bonus could affect several aspects of your insurance. 

Only general insurance offered 

A business package tends to offer a little of everything, rather than comprehensive insurance in one area. If you have more specialised insurance needs, it may not always be the best option to fulfil your insurance needs. 

Can’t take up special offers 

You may save money overall by bundling your insurance into one policy, but it does mean you won’t be able to take up any special offers which other insurers may advertise for one particular type of insurance.

Types of business insurance

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More of your questions about business insurance packages

Will a business insurance package include all the basics I need?

This will depend on the type of insurance you’re after, but a small business insurance package does usually offer the most popular forms of insurance that most small businesses require.  

Are business insurance premiums tax-deductible?

Yes – you can claim the cost of your business insurance as a tax deduction, as the ATO recognises it as a legitimate cost of doing business. 

How much will my business insurance package cost?

The cost of your business insurance package will depend on many things, including the following: 

  • Which state you’re in 
  • The industry you’re in 
  • How big your business is and your turnover 
  • The structure of your business (sole trader, partnership, multiple directors etc) 
  • How many people you employ 
  • Your insurance and credit history 
Does my excess apply to any insurance claim I make?

Yes – it doesn’t matter what your claim is for, or which aspect of your insurance covers you: it’ll be necessary to pay the excess for any insurance claim you make. 

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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.