Are you running a business? How often do you look at the business and wonder what you would do if it is unable to operate? Would you be able to afford to fix machinery, pay your staff and keep food on your table? If you answered no to any of those questions, it may be time to start thinking about insurance for your business. Even though running a business comes with many benefits, there are also risks that you need to consider.

Having a plan in place along with adequate insurances can help you to safely and successfully continue to run your business. These insurances can cover you and your business, your staff and customers. Not only that, you can also get insurance that covers your machinery and equipment. Don’t forget the online side of things as well! There are many different things you need to consider when running a business. Insurance should be on the top of your list.

What is business insurance?

Business insurance is the insurance policy that covers the property that you are running your business from and the contents that are held by the business. This can include stock and equipment required for the running of the business.

It is not just for businesses that have a store front or that provide products for purchase. It is also a highly recommended policy for those who are running service based businesses.
It will cover both the primary and any secondary premise that you have for your business. For example you may have a store front and also a warehouse where you hold the surplus stock. You can have both of these properties listed on your insurance to be covered.

For service based businesses the policy can cover your office space and any equipment that you have within it that assists with the running of your business.
Business insurance is a policy that is there to protect you, your business and the assets of your business.

What’s covered by business insurance?

Business insurance covers your premise and contents that are stored within your premise.
These are covered in the event of damage, theft or loss.



If you have a warehouse where you hold stock, you can have this as a part of your policy. It will cover the warehouse and any damage that is done to it, along with anything that is listed as being inside the warehouse. Including stock and equipment.


Office Space

Offices are also able to be covered by your business insurance. You can cover the office itself and then also anything inside of it including your computers, printers and any kitchen items that you have in there.



If you have a store front for your business, you can also have this listed on your insurance. It will cover the property, any stock that you have in the store and also all other contents including racking, cupboards or signage.


Loss of stock

When there is a natural disaster that occurs or a fault in your connections such as electricity or telephone, you may also be eligible to make a claim. If you lose stock due to one of these incidents, for example the electricity going out and you lose all your frozen stock you can put in a claim to be reimbursed for the value of the stock.

Your business insurance will cover your property and contents for damage, theft of loss. If there has been an incident that has affected either your property or the contents within it and resulted in damages, you are able to claim the cost or repairing or replacing through your insurance. If your premise is broken in to and stock or equipment is stolen, you are able to claim back the cost of this through your insurance. This is why it is important to have a detailed stock count of everything that is in your store, office or warehouse to ensure that you are properly insured for the right value.

Ready to take the next step?

Speak to one of our professional insurance consultants today

Frequently asked Questions

Why should I have business insurance?

Anyone who is a business owner knows that there is a lot of time, patience and money that goes into creating a successful business. Whether you are a service-based business or a product based business, having adequate insurance in place can save you a lot of money in the long run.

Businesses that have a storefront or a lot of stock on hand in a warehouse, need to ensure that they are covered if anything was to happen to the stock. There is a lot of value that sits behind your stock, not to mention the time sourcing and storing it as well. Business insurance is there to help you not suffer a financial hit if your stock is damaged or stolen. It helps keep you afloat and ready to get back into business as soon as possible. If replacements are not possible you may be financially compensated for the lost, stolen or damaged stock and equipment so that you can source new ones.  

Service based businesses also need to be adequately covered for their equipment. Laptops, printers, electronics etc are not cheap. To have to replace them all at once because your office has been broken into or because there has been damage to them is a stressful thought. By having your insurance in place, you do not need to stress about trying to replace them quickly and out of your own pocket. It can all go through your insurance without too many hassles.

Your place of business will also be covered through your business insurance policy. You need to have this in place so that if there was an incident and your premise needed to be repaired, you do not have to run around trying to find the funds to do so. Your insurance will cover the costs and get your business up and running in no time at all.

Having business insurance in place means that you are able to get back to working as quick as possible if something does happen. A simple claim can save you thousands of dollars in the long run.

Do I need a policy if I don’t hold stock?

Definitely! A business insurance policy is ideal for all types of businesses. Whether you hold stock or not. It does not just cover product based businesses. Any business that has a property that they work from, even if it is an office should be covered with the adequate policies.

Look at your business and the circumstances within it. Look at where you operate from and whether you would be able to afford to open your doors elsewhere if your premise was damaged and unable to work from it.

Business insurance covers BOTH the premise and the contents that are in it. So don’t think that you should skip it just because you do not have stock. Absolutely everything within the work space may be eligible to go on your policy.

If you are still trying to determine how to get business insurance and what level of cover you should get, reach out to the team. At Phoenix Risk Services we are able to assist all personal and business insurance enquiries. Our team has extensive knowledge and will help you choose the right policy.

How do I get business insurance?

Getting a business insurance policy for your business does not need to be a difficult task. We know how busy you are as a business owner and we strive to make things easy for you.

To get set up with your business insurance policy all you need to do is give us a call or send through an email and one of our friendly team will be in touch.

We will discuss with you the details of your business including the type of business, property details and the value or your stock and or equipment.

From there we will be able to help find the best policy to suit your circumstances and give your business the best chance of being protected from expected incidents.

Getting in touch is easy!

What happens when I make a claim?

The claiming process through Phoenix Risk Services is simple and easy. If you need to make a claim, this can be done simply through our website via the following link:

All you need to do is enter all the information you have in regards to the incident. From here our team will then be in contact to request any further information (if needed) and then process the claim for you. We want to make thing easy for you and not add on extra stress and concern.

This is why our claim process is the way it is, so you don’t have to spend hours on the phone trying to get through to someone to help you. Our team is friendly and helpful and will help you through the steps if you are unsure on what to do next.

Remember, your business, your workspace and your contents matter!

It does not matter what type of business you are running. Your business is important and keeping your work premise, warehouses and contents safe and covered is important. By having the correct insurance in place, you can continue to work on your business and in it, without having to worry about what you will do if something goes wrong. It means that you can continue to work without the stress of whether you will be able to afford to move locations, replace stock or repair damaged that have been done. 

Your work premise and the contents within are crucial to your business running efficiently and effectively. If you are unable to work out of your premise, than your business may not be able to keep running. Or if you don’t have any stock that is in brand new condition, you may not be able to process any orders. Your business insurance ensures that you ARE able to continue with your business. And get it up and running again as soon as possible.

Insurance helps you to have peace of mind, a plan in place and a contingency plan for if you need to have one off the road.

It helps you to be able to quickly sort the issues and get back to business.

Still not sure on whether or not you need business insurance in your business? Ask yourself these questions:

  • Will your business be able to open tomorrow if you could not access your premise?
  • Would your business stay open without your stock or equipment?
  • How long could you continue running your business without your primary place of business?
  • Would you and your family be able to make ends meet if the business is not running at full capacity?
  • Do you have enough funds to purchase stock or find an alternative location to work from?
  • Will you be able to continue to pay your staff?
  • How would your customers or clients feel if they were unable to purchase from you or use your services for a prolonged length of time?

Look at your answers to the questions. If you are unable to keep your business running and are concerned about how you will be able to recover from having your premise non operational  or not having the stock or equipment to run your business– now is the time to get in touch.

Our team are here to help guide you through the process. To help you understand the different policies available and give you the best advice possible when it comes to choosing what will suit you and your business.

To find out more about which insurances are right for you and your business, get in touch today. We can help you to find the best policies that will give you the protection and peace of mind that you need.

To get in contact, you can message us directly through our website:

Or if you prefer to chat over the phone give us a call on 1300 609 128