Business Insurance

Everything you need to know, to keep your business protected. Get the best business insurance now.

Business Insurance

Popular business insurance solutions for your business

Business Insurance, sometimes called commercial insurance, helps protect business owners, management and staff from unexpected losses. 

Business insurance protects your business against the financial risk of theft and damage to your tools, equipment and assets, claims of poor workmanship or advice, or if you or your staff damage someone’s property or injure someone.

Understanding business insurance

It is especially important for small business owners to carefully consider and evaluate their business insurance needs because they may have more personal financial exposure in the event of a loss. If a business owner does not feel he or she has the ability to effectively assess business risk and the need for coverage, they should work with a reputable, experienced and licensed insurance broker.

Types of business insurance

Also known as commercial lines insurance, these coverages include property and casualty insurance products for businesses. Commercial lines Insurance helps keep the economy running smoothly by protecting businesses from potential losses they couldn’t afford to cover on their own, which allows businesses to operate when it might otherwise be too risky to do so.

Professional Indemnity Insurance

Professional indemnity insurance

Public Liability Insurance

public liability insurance

Importance of Business Insurance Cover

In New Zealand, some types of business insurance are compulsory.

It’s also important to note that some types of insurance are compulsory for many kinds of businesses, whether it’s a legislative requirement, an obligation as a member of a professional board or association or required by a contract you enter into with a landlord or a customer.

In most states, your business needs certain coverages, like workers’ compensation insurance and unemployment insurance to operate. Workers’ comp helps your employees if they suffer a work-related injury or illness by helping pay their medical expenses and missed wages while they recover.

Liability insurance is also important because it helps pay the legal fees associated with lawsuits filed against you. Without these coverages protecting your business, you’ll have to pay out of pocket for claims.

Business insurance for your profession

Tailored cover for the risks you face.

Can’t find your business?

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We help protect businesses of all sizes across a wide range of industries in New Zealand.

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Why choose LifeCovered® for your business insurance?

You can pick from a range of cover options to get a bespoke policy for your business.

Frequently Asked Business Insurance Questions

It is mandatory in some professions to have business insurance protection in place. You have a duty of care if you earn an income by selling your service or advice. Insurance protects you from potential liabilities.

Professional Indemnity cover is necessary for:

  • Anyone who provides paid professional advice or services to any business or individual
  • Suppliers/contractors who work for the government or other organisations whereby insurance is mandatory as a condition of the contract

An example of some professions that require Business Insurance is health practitioners, IT contractors, management consultants, accountants and insurance advisors.

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