June 18: Check out our newly updated calculator to compare insurance quotes between many insurance companies in Australia! Did you know that Bingle Car Insurance review is currently the most reviewed Car Insurance company on Insurance Fort?

Still can't find what you're looking for? Search our website!

E.g. "Compare car insurance rating", "Greenslip Australian insurance companies", etc.

Sole Trader Insurance

Many Australians have dreams to start their own business - no matter if it is a small at-home job or one that requires an external building - usually start climbing the career ladder by being a sole trader businessman. Being a sole trader is easy to set up, you keep all the profit but however, you are in risk of having unlimited liabilities. This is why getting insurance for sole traders is such an important thing in order to keep you and your business guarded in safe hands. You can never know when bankruptcy or nightmares will strike.

Imagine yourself getting to where you want, making sales and building a list of faithful customers. But suddenly, a flood destroys your work place, customers stop coming and you are in debt. What do you do? It doesn’t matter if you are a mechanic, a builder, a web designer or a shop owner, there is always a correct sole trader insurance service and plan designed specifically to fit you.

Insurance for small businesses can include many protections and services to help cover your risks for a lifetime as long as you are a member. The package can include and/or bundle with products such as sole trader public liability, tax audit, transit and statutory liability, and general property. If you are unsure, you can always ask the insurance company of your choice for guidance.

When you are looking for the right small business or sole trader insurance package, make sure it includes all the points outlined above. Many of them are cheap and in high quality.

So what types of insurances are there for sole traders to choose from?

The first one is property insurance for sole trader businesses that covers the loss or damage against buildings, contents, stocks, financial liabilities, and even in the events of natural disasters like earthquakes, flooding, hurricanes, typhoons, accidental fires, lightning shock and water to name a few. Theft from your premises is also included in this package. This includes during the period when your building is still under construction, as long as you are the rightful and legal owner of it.

You must take note that the insurance for sole trader can only be used or claimed for aspects related to your businesses, including the business owner, directors, partnerships, employees and other staffs that have a function within the building. For more information about this, you may want to contact an insurance or financial adviser.

The next package, public liability insurance for sole traders, is just as extremely important and essential for all sole traders. This is the most significant of all insurances for sole trades because if you don’t have it and something goes wrong on the worksite, you can run the risk of being in thousands and millions of dollars in debt.

The main purpose of this sole trader public liability insurance is to protect the interest of the owners, including the individuals who works with you like the builders, tradesman, sub-contractors and injuries of other people, other then your staffs that are beyond reachable control.

All of these things will be covered the moment you’ve signed up and paid for your plan. Purchasing a sole trader public insurance may be a costly at times, but the ultimate reason is for your protection and business prosperity.

Insurance Companies

Insurance Companies For Sole Trader

Here is a list of all (but not limited to) the insurance companies that offer business insurance plans, packages, premiums and/or services.

APIA Business Insurance
APIA, like most other insurance companies, has a very difficult fine print, Terms and Conditions, and policy to understand. For example, it is written that damages from water are covered, including sinks ...

NAB Business Insurance
NAB is a reliable and trustworthy insurance company that has a good reputation in Australia. Many discounts and bonuses can be offered to customers in ways such as buying policies ...

Leave Comments

Comments page 1 of 1

image verification

Posted 1930 days ago
I am after public liabiltiy insurance for being a sole trader contracting as a boatbuilder, repairs and maintainence.
Ralph D'Onise
Posted 2589 days ago
I am after public liabilty insurance for being a sole trader contracting as a maintenance worker e.g. mechanical engineering trades person or fitter and turner.
Posted 2658 days ago
Becoming a sole trader was harder than i imaged! I never knew all the things I'll be liable for! Thansk for writing this guide about sole trader insurance - it helped me a lot! :D