Business Insurance
Running a business? Build business insurance to suit your business needs with a wide range of cover options.
Cover provided by Allianz Australia
If you own a small business, you can organise your business insurance through Westpac. The Business Insurance Pack, provided by our partner Allianz, offers twelve cover options you can choose from, depending on your business needs.
What does business insurance cover?
Running a business means dealing with things you can’t always plan for. Business insurance may help to reduce the risks associated with your business. The Business Insurance Pack includes Public and Product Liability insurance, along with additional optional covers to protect your property, equipment, stock and other assets.
Why insure through Westpac?
One place for your banking and insurance needs
Keep it simple with Westpac. Organise your insurance and banking all in one place.
Only pay for what you need
Flexibility to customise your business cover to suit your needs.
Convenience for your business
Receive your Certificate of Currency after purchase and lodge claims online 24/7.
Flexible payment options
No extra cost to pay by the month so you can better manage your cash flow.1
Build your cover to suit your business
Every business is built differently. That’s why the Business Insurance Pack gives you the flexibility to customise your policy. Start with Public and Product Liability, then choose additional covers based on your business needs.
Public and Product Liability
Public and Product Liability may help cover costs if someone is injured or their property is damaged at your premises as a result of your products or services. Public and Product Liability may cover:
- Costs you’re legally liable to pay as a result of injury to members of the public.
- Costs you’re legally liable to pay for damage to someone else’s property.
- Compensation for liability claims against your advertising activities.
- Legal fees and expenses to defend a claim against you, even if you’re not at fault.
Additional covers
Add optional covers to suit your business such as: General Property, Commercial Vehicle, Management Liability, Commercial Property, Business Interruption, Theft, Money, Machinery Breakdown and Electronic Equipment, Glass and Goods In Transit. Find out more in the Additional covers tab.
For more information on the Business Insurance Pack and to get a quote, call the business insurance specialists at Allianz on 1800 502 077.
Terms, conditions, limits and exclusions apply. You should read the Product Disclosure Statement (PDS) to understand how these may apply to you.
Additional covers for your policy
You can add optional covers to suit how your business operates. Below is a limited summary. Additional premiums apply, and availability depends on your business type.
General Property
Commercial Vehicle
Management Liability
Commercial Property
If your business operates from a physical location, Commercial Property may cover accidental damage to the building, contents and stock from insured events such as storm, fire or vandalism.
With Commercial Property, you can also add:
- Business Interruption
Business Interruption cover may help if your business is interrupted by an insured event, such as a fire. It may help cover lost income, profit or turnover.
- Theft
Covers the loss of insured property, such as stock or equipment, due to theft involving visible or forced entry to your business premises.
- Machinery Breakdown
Machinery Breakdown cover may help pay for repairs or replacement of business machinery after certain types of breakdowns. This may include items such as ovens, air conditioners or boilers. Refer to the PDS for the full list of breakdowns and machinery covered under this option.
- Electronic Equipment
Covers repair or replacement of electronic equipment such as computers, following certain types of breakdowns. Refer to the PDS for the full list of breakdowns covered under this option.
- Money
Covers loss of money stolen from your business premises during business hours, or outside business hours when secured in a safe or strongroom, in transit or in your custody at a private residence until the next business day.
Glass
Goods In Transit
For more information on the Business Insurance Pack and to get a quote, call the business insurance specialists at Allianz on 1800 502 077.
Terms, conditions, limits and exclusions apply. You should read the Product Disclosure Statement (PDS) to understand how these may apply to you.
Make a claim or change your cover
Frequently asked questions
Public liability insurance covers your business if a member of the public makes a claim for injury or damage to their property arising from your business activities, or while using your products or services. It may help with the compensation costs and the legal fees involved in responding to a claim.
If your business deals with customers, suppliers or other third parties, there’s a risk someone could be injured or have their property damaged as a result of your business activities.
Public liability insurance may help with the costs you are legally liable to pay if a member of the public is injured or their property is damaged in connection with your business activities. This type of insurance may also be required for certain trades, contracts and permits. Please make sure to check the requirements for your business before buying cover.
No. Professional Indemnity Insurance is not included in the Business Insurance Pack.
Professional indemnity insurance (also known as professional liability insurance) is designed for businesses that provide professional advice or services. It may help with compensation and legal costs arising from mistakes, breaches or neglect. Professional indemnity insurance is mandatory in some advisory and health-related fields.
For more information, contact your professional association.
Business car insurance (also known as business auto insurance and commercial vehicle insurance) provides cover for vehicles used as part of day-to-day business activities. It may help cover costs when a vehicle is stolen or involved in an accident. Cover is generally available for a wide range of vehicles from passenger cars to trucks, trailers and earth moving equipment.
Flood cover is available as an optional benefit within the Business Insurance Pack under Commercial Property Insurance. It may help cover loss or damage caused by flood.
Terms, conditions, limits and exclusions apply. You should read the PDS on Allianz’s website to understand how these may apply to you.
No. Workers compensation is not included in the Business Insurance Pack. Workers compensation supports employees who are injured at work or become unwell due to their job. It may help cover wages or lost earnings, medical expenses and rehabilitation. It is mandatory for most Australian employers.
For more information, visit the workers compensation regulator in your state or territory.
Public liability, product liability and professional indemnity each address different types of risks for a business.
- Public liability insurance can protect the business if a third party or member of the public is injured, dies or has their property damaged due to your business activities.
- Product liability insurance can help to protect the business if the products supplied, sold or manufactured cause injury, death or property damage to a customer or third party.
- Professional indemnity insurance can help to cover the costs from claims of financial damage caused by negligence, error or misrepresentation or breaches of professional duty.
Help when you need it
More options for your business
Things you should know
1Pay by instalment at no additional cost compared with paying annually. Instalments may be subject to minor adjustments due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
Any financial product advice provided on this page is general in nature and does not take into account your personal circumstances. Before making a decision, please consider the relevant Product Disclosure Statement (PDS), supplementary PDS (if applicable) and Target Market Determination (TMD), if applicable.
The Business Insurance Pack is issued by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz). Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714 (the Bank) refers customers to Allianz but does not guarantee the insurance.
If you purchase a Business Insurance Pack with Allianz, the Bank will receive a commission of up to 14% of the premium excluding Government fees and charges plus GST on initial issue, and up to 10% of the premium excluding Government fees and charges plus GST for any renewals.
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- How you can access the personal information Westpac holds about you and ask for it to be corrected;
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