There are many different types of insurance depending on your needs. Here are some of the more popular types of business insurance – note that some insurance companies also offer these as a ‘package’:
| Product | Brief description |
| Public Liability | Protection against third parties suing you as a result of your negligence causing personal injury or property damage whilst on your property |
| Fire and perils | Covers your building and/or contents against specific perils such as fire, storm, lightning, malicious and sometimes accidental cover |
| Workers Compensation | Compulsory insurance covering claims from the death, injury or illness of employees |
| Motor | Protection for injury to third parties, with options to cover third party property damage and own damage from the use of your vehicle |
| Machinery Breakdown | Cover for losses due to the burning out of electric motors or boilers used in your business |
| Professional Indemnity | Protection if you get sued as a result of financial loss due to errors or omissions following your advice. You may also need to continue buying (limited) protection after you retire – e.g. architects, designers or health workers |
| Tax Audit | Covers the costs of responding to an ATO audit – for example the cost of engaging your accountant to prepare information |
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