--- title: "Small Business Owners Insurance: What do You Need?" description: As a Small Business Owner, the perks of having a business you can steer however you like is something many people enjoy and strive for. However, it is vital that all small business owners know which insurance they need to avoid getting into business debt later down the track. image: https://lanyana.revivefinancial.com.au/hubfs/small-business-insurance-blog.jpg --- [![DR-Logo---Powered-by-RF-(2021)-137x60px](https://lanyana.revivefinancial.com.au/hubfs/DR-Logo---Powered-by-RF-(2021)-137x60px.png)](https://debtrescue.com.au) Menu [Apply Online](https://solutions.debtrescue.com.au/online-assessment-form) [1800 003 328](tel:+611800003328) 1800 003 328 - [Recent Articles](https://solutions.debtrescue.com.au/articles) - [Debt Consolidation](https://solutions.debtrescue.com.au/articles/tag/debt-consolidation) - [Debt Agreements](https://solutions.debtrescue.com.au/articles/tag/debt-agreements) - [Informal Agreements](https://solutions.debtrescue.com.au/articles/tag/informal-agreement) - [Debt Relief](https://solutions.debtrescue.com.au/articles/tag/debt-relief) - [Bankruptcy](https://solutions.debtrescue.com.au/articles/tag/bankruptcy) - [Budgeting](https://solutions.debtrescue.com.au/articles/tag/budgeting) - [Business Debt](https://solutions.debtrescue.com.au/articles/tag/business-debt) - [Credit File](https://solutions.debtrescue.com.au/articles/tag/credit-file) - [Education](https://solutions.debtrescue.com.au/articles/tag/education) - [News](https://solutions.debtrescue.com.au/articles/tag/news) - [Research](https://solutions.debtrescue.com.au/articles/tag/research) - [1800 003 328](tel:+611800003328) Talk to a Professional Apply Online [1800 003 328](tel:+611800003328) Call Now # Small Business Owners Insurance: What do You Need? Posted by [Debt Rescue](https://lanyana.revivefinancial.com.au/articles/author/debt-rescue) on May 4, 2018 9:41:00 AM - [Tweet](https://twitter.com/share) [![small-business-insurance-blog](https://lanyana.revivefinancial.com.au/hubfs/small-business-insurance-blog.jpg)](https://lanyana.revivefinancial.com.au/articles/small-business-owners-insurance-what-do-you-need) As a Small Business Owner, the perks of having a business you can steer however you like is something many people enjoy and strive for. You can run it how you please without interference from others and retain all the profit made from the business. However, unlike a Pty Ltd company, you and your business are a single legal entity. It is vital that all small business owners know which insurance they need to avoid getting into business debt later down the track. Should anything go wrong in your small business, the cost can impact your personal finances and life.  By ensuring you are covered with essential insurances, you will sail smoothly over any inevitable bumps. ## Public Liability Insurance Public Liability Insurance is essential for any business owner as it protects you and your business against personal injury and/or property damage from third parties. These damages will be costly if you are not covered and you could end up with a hefty business debt. Public Liability Insurance is one of the most important insurances, and often comes as standard with business insurance packages. ## Product Liability Insurance Generally, Product Liability Insurance is included in a Public Liability Insurance Policy, and if your business manufactures products that are sold in the general market is essential . Even if your business is taking extra measures to ensure the product is safe, unexpected events could happen that could result in a lawsuit. This insurance is tailored to cover your specific type of product. ## Property Insurance Property insurance is important. Natural disasters such as bushfires, cyclones and floods are unfortunately common in Australia. Whether your business owns or leases the space, you must have Property Insurance to cover damages to your equipment, signage, inventory or furniture. It can also cover any unforeseen damages such as theft, water damage or fire damage. ## Workers’ Compensation Insurance As your business progresses and starts to expand, you’ll need to hire employees to help operate it. Once you’ve hired your first employee, consider covering yourself and the business for Workers’ Compensation Insurance. This insurance covers medical treatments, disability and death benefits for injury or death as a result of working at your business. Low-risk jobs can still cause medical conditions such as carpal tunnel syndrome. This can also result in costly claims to you and your business. ![Is-Your-Business-In-Financial-Distress](https://lanyana.revivefinancial.com.au/hubfs/DR%20Blog%20CTA%20Banner%20-%20Personal%20Debt%20Solutions.gif) ## Home Business Insurance for Small Business Owners If you are a business owner working from home ask your insurer if they can cover you with Home Business Insurance. Unfortunately, standard home insurance does not cover home-based businesses in the same way Property Insurance does. This insurance covers any damages to your equipment or inventory and protects you from claims against you and your business. If you suffer an injury or illness that prevents you from working, they provide you with income protection. This is because most as home-based businesses don’t usually have sick leave. ## Vehicle Insurance If your business uses a company vehicle, insurance will protect the business against liabilities if there is an accident. If you are using your personal car for business, your own personal insurance should cover it in the event of an accident. ## Business Interruption Insurance This insurance helps cover any financial losses due to a lawsuit or catastrophic event. Disasters such as floods or cyclones can prevent your business from operating. Your business could suffer a loss of income if you and your staff are unable to work either at the office or workplace. This insurance is essential to businesses that have a physical location and compensates for lost income during these events. ## Avoid Business Debt with Insurance Now you have a better idea of which insurances you need for your small business, its time to call your insurer. Make sure you shop around for the best policy, and read the fine print! Some policies do not cover certain items, and others may not cover against particular weather causes. Your insurer will advise your best options, covering you and your business should anything go wrong. For more information on business debt and how we can help, check out our [business debt page.](https://debtrescue.com.au/business-debt/) Topics: [Business Debt](https://lanyana.revivefinancial.com.au/articles/tag/business-debt) ## More Articles - Recent Articles - Debt Consolidation - Debt Agreements - Informal Agreements - Debt Relief - Bankruptcy - Budgeting - Business Debt - Credit File - Education - News - Research ### Subscribe Here! ### Get the Latest Debt Free and Budgeting Advice straight to Inbox Free ### Recent Posts ### If you are in too deep with debt, we here to rescue you. We have the right solution for your situation. Contact us today. No obligations, just solutions! ## Talk to an Aussie who cares. [Get Started](https://solutions.debtrescue.com.au/online-assessment-form) [![DR-Logo-v3-1](https://lanyana.revivefinancial.com.au/hubfs/DR-Logo-v3-1.png)](https://debtrescue.com.au/) **Affiliated with:** ![ias-white-logo](https://lanyana.revivefinancial.com.au/hs-fs/hubfs/ias-white-logo.png?width=250&height=118&name=ias-white-logo.png) **Member of:** ![pipa_logo_white](https://lanyana.revivefinancial.com.au/hs-fs/hubfs/pipa_logo_white.png?width=250&height=72&name=pipa_logo_white.png) [Privacy Policy](https://debtrescue.com.au/privacy-policy/) | [Terms of Use](https://debtrescue.com.au/terms-of-use/) © 2019 Debt Rescue. All rights reserved. Debt Rescue Pty Ltd is a company that is part of Revive Financial Group Pty Ltd (Group). All of our Australian Credit Licenced activities within our Group are undertaken by our related bodies corporate Revive Financial Lending Pty Ltd ACN 152 573 610, Australian Credit Licence 418721 and Revive Financial Pty Ltd ACN 621 446 697, Australian Credit Licence 503321 and Revive Debt Agreements Pty Ltd CAN 133 509 654, Authorised Credit Representative Number 452856 and Registered Debt Agreement Administrator Number: 1337. Liability limited by a scheme approved under professional standards legislation. ## What Kind of Debts Do You Have? ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Credit-card-icon.png) Credit/Store Card ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Personal-loan-icon.png) Personal Loan ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Pay-day-loan-icon.png) Pay Day Loan ![](https://debtrescue.com.au/wp-content/uploads/2020/11/tax-debt-icon-green.png) Tax Debt ![](https://debtrescue.com.au/wp-content/uploads/2020/11/Unitilties-Icon.png) Utility Bill ![](https://debtrescue.com.au/wp-content/uploads/2020/11/other-icon.png) Other Please select at least one type of unsecured debt. Next ## How Much Money Do You Owe? $10,000 $1,000 $100,000+ Next ## Find Out How To Reduce Your Debt ### Your First Name ### Your Last Name ### Your Email ### Your Phone Phone number must be 10-digits long and begin with a 0. (e.g. 04 1234 5678) ### Your Post Code Post code must be 4-digits long (e.g. 4567) Some of your details appear incorrect. Please update the highlighted fields and re-submit. Submit ## Congratulations! ### You've taken the first step to becoming debt free Let's keep the momentum going and complete our assessment form to receive an instant debt analysis. [Start Instant Assessment](https://solutions.debtrescue.com.au/online-assessment-form) By submitting this form you acknowledge that you have read and accept our [Privacy Policy](https://lanyana.com.au/privacy-policy/)