Business Insurance Broker Australia
Specialist Business Insurance Broker with cost effective and comprehensive Business Package Insurance solutions
What Is Business Insurance?
Business insurance is designed to protect your company against financial loss caused by unexpected events such as property damage, legal claims, theft, or business interruptions. It covers a range of risks that businesses may face in their day to day operations, helping safeguard your assets, income, employees, and reputation. Having the right business insurance in place provides peace of mind and ensures your business can continue operating even when unforeseen challenges arise.
Using a broker vs going direct to an insurer
Business Package Insurance policies can vary significantly between insurers, your occupation, inclusions and exclusion, and claim conditions. A broker compares them on your behalf at no extra cost.
Brisbane's trusted business insurance brokers
We do the hard work so you don't have to. One call and we compare the market on your behalf.
- 600+ five star reviews from Australian business owners
- Same day quote turnaround on most business policies
- Free claims handling from lodgement through to settlement
- 50+ industries covered across Brisbane and Australia wide
- No extra cost to you as brokers are paid by the insurer
Select your industry
Senior Insurance Broker & Director, Business Insurance Specialist and leads up the Business Broker Team.
Lauren Spice - Director
Senior Insurance Broker, Director - Specialises in Business Insurance, Public Liability, Commercial Property, Professional Indemnity
Lauren Spice is the Director of Morgan Insurance Brokers and leads a specialist team of business insurance brokers serving clients across Brisbane and Australia wide. Since founding Morgan Insurance Brokers in 2018, Lauren has built a brokerage that goes beyond placing policies, her team takes the time to understand how each business actually operates, where the real risks sit, and what cover would leave them exposed.
Whether you’re a tradie, a retailer, a hospitality operator, or a growing SME, Lauren’s team has seen your industry and knows the insurers who will respond when something goes wrong. They handle everything from first quote to claim settlement, no call centres, no being passed around.
When a claim hits, Lauren and her team are the ones on the phone with the insurer, pushing for a fast and fair outcome while you focus on running your business.
EXPERIENCE
15 + years in insurance broking
LOCATION
QLD, servicing Australia wide
Top 3 most asked questions about Business Insurance by Brisbane Businesses
How much does business insurance cost in Australia?
Small business insurance typically costs between $1,000 and $3,000 per year for a standard business package policy, though this varies significantly depending on your industry and the covers you select.
The main factors that affect your premium are:
- Your industry and the nature of your business activities
- Annual turnover and number of employees
- The value of your stock, contents, and equipment
- Your location and premises type
- Whether you engage subcontractors
- Your claims history
A tradie working from a ute will pay significantly less than a manufacturer with $500,000 of stock on-site. The best way to get an accurate figure is to speak with a broker who can compare the market on your behalf rather than accepting the first price an insurer offers.
Do I need business insurance?
If your business owns or leases a premises, holds stock or equipment, employs staff, or deals with customers and members of the public, you almost certainly need some form of business insurance.
In some cases it is a legal or contractual requirement. Public liability insurance is mandatory for many trade licences in Queensland, and most commercial leases require tenants to hold it as a condition of occupancy. If you subcontract to larger companies, they will often require proof of cover before allowing you on site.
Even where it is not legally required, the financial exposure of running an uninsured business is significant. A single public liability claim, a fire that destroys your stock, or a period of forced closure can result in losses that most small businesses cannot absorb.
Understanding what insurance your business actually needs is the first step. A broker can assess your specific risks and recommend only the covers that are genuinely relevant, so you are not paying for policies you do not need.
How does using a broker save me money?
A broker saves you money in three ways that most business owners do not realise until they have made a claim.
First, brokers have access to a panel of insurers including specialist underwriters that are not available directly to the public. This means we can compare more options and negotiate better terms than you can access by going direct to one insurer.
Second, brokers review policy wordings in detail and identify exclusions that could leave you exposed. An underinsured claim settlement is often far more costly than the premium saving you made by choosing the cheapest policy available.
Third, and most importantly, brokers manage your claim from start to finish at no extra cost. When something goes wrong, you are not dealing with an insurer's call centre alone. We advocate on your behalf, push for fair and fast outcomes, and handle the paperwork while you focus on running your business.
What Does Business Insurance Cover?
Business insurance packs can offer general protection for a business, which may include cover against:
What is typically not covered?
Business insurance policies offer vital protection against a large number of potential risks your business may face. However, not all policies are created equal, and many may have standard or industry-specific exclusions that could leave your business vulnerable. That’s where we come in as your trusted business insurance broker. Entrust our Brisbane team to navigate the complexities of insurance policies, ensuring you’re adequately covered and shielded from potential losses.
Deliberate acts
Product recall costs
Injuries to your employees (Workers Compensation)
Wear & Tear and Old Age
Flood - Available on request
Aircraft products
Asbestos Liability
Pollution Liability
Contractual Liability
Professional advice
Real Client Successes
How we saved a Brisbane Subway Store owner money and increase their cover on renewal
When Marco's Subway Restaurants located in Brisbane came up for renewal, he was not confident in the cover that he currently had. He had less than average claims experience with his previous insurance company.
Marco called us. We went to market across our panel of 15 different insurers, reviewed three competing quotes, and placed him with a specialist hospitality insurers for less than he paid last year.
The new policy also included updated business interruption figures his previous policy had underinsured significantly, meaning if a fire forced him to close, his lost revenue would now be covered in full. Better cover, lower price.
It cost Marco nothing to use us. Brokers are paid by the insurer.
They needed cover urgently, and needed specialist cover for contractors. We sorted it on the weekend.
When Diane's cleaning company came up for renewal in May, she contacted us on a Saturday noting her request was urgent as she had new subcontractors starting on Monday.
We had her details within the hour (yes even on a Saturday) a went to market to over 12 cleaning insurance specialists. By Monday, we had a very comprehensive quote for her and her contractors. .
The new policy was more competitive and also included public liability cover for her subcontractors she had recently taken on, a gap that had never been addressed despite her business growing significantly over two years.
Diane has since referred all of her subcontractors to her as well for their businesses needs to us as well. We think that says more than we could.
Why do you need Business insurance?
Business insurance is important because it covers the business against financial loss due to events such as fire, theft, natural disasters, and accidents.
All business owners, large or small, can benefit from taking out an affordable and comprehensive business insurance pack to help protect them against the main risks involved in running a business..
With the right cover in place, and an experienced Business Insurance Broker to back you up come claim time, owners can run their business with confidence, knowing that their premises, stock, equipment, and income are protected by their insurance policy.
How Morgan Insurance Brokers can help
As your preferred Business Insurance Broker, our Brisbane team of Business Brokers makes obtaining Business Insurance easy. We do all the hard work for you. We learn about your business, your risks, and your requirements. We then approach a large panel of approved insurers to negotiate and obtain a suitable insurance policy for you that fits within your budget.
We provide advice and recommendations on your existing covers, or covers that we may see as a potential exposure to your business. We also manage claims on behalf of our clients, from lodgement all the way through to settlement. You can trade in peace knowing your business is protected.
More Questions Answered
Below we answer frequently asked questions about Business Insurance.
In addition, we recommend exploring the comprehensive resources provided by business.gov.au to enhance your understanding of risk management and insurance for businesses in Australia. With valuable insights and practical guidance, business.gov.au equips you with the knowledge needed to navigate the complexities of insurance coverage effectively.
Whether you’re a budding startup or a seasoned entrepreneur, understanding the importance of insurance in mitigating risks is crucial for long-term success.
For more guidance, you can access business.gov.au’s business protection resources to find practical, government-backed guidance on managing risk and protecting your business.
As Your Business Insurance Broker, we will obtain the neccessary information in order to approach the market of insurers on your behalf. An example of the information you will need to provide is as follows:
- The type of business you have (e.g., retail, restaurant);
- your business structure The type of business – sole proprietorship, partnership, proprietary limited company, corporation;
- The size of your business (e.g., number of employees);
- Who you work with (e.g. do you subcontract to another company?);
- Your annual revenue;
- Your location.
If your business holds stock, equipment, or contents, or if you own or lease a commercial premises, there is always a risk of unexpected events impacting your assets. Understanding what insurance your business may need is an important first step in protecting your operations. Working with a Business Insurance Broker helps you source the right business insurance policy, tailored to your risks, so your business is protected against the unknown.
Yes, you can cancel your policy within a cooling off period and be refunded the entire premium you’ve paid.
Cooling off periods can vary between insurers, but it’s usually 21 days from the date you started the cover.
Your contents and stock should reflect the new replacement value of your property. If not, your claim may not be paid in full.
You should review your contents & stock figures when they are higher than what you’re insured for on your policy. This may be more than once a year. Don’t want until renewal if they are different to your insurance policy amounts.
Yes, shipping containers which are at your insured address are covered, but they need to be secured and locked when unattended.
No. Never rely on a business insurance policy to protect your business from cyber attacks. Please refer to a Cyber Insurance policy.
Flood is NOT a standard inclusion. This has to be requested and approved by the insurer and is on a case by case basis.
If you’re registered for GST, yes you can claim the GST paid on your insurance policy.
Each insurer that we approach will have varying guidelines with vacant properties, however, if your property is vacant for more than 60 or 90 days, then your cover could cease, or be limited.
Signs are usually an additional benefit when you insure for external glass cover.
Standardly, if your items are damaged from a power surge, section 1; property damage cover will more than likely repond to these damages.
If you sublet, you should always let your Business and Public Liability insurers know to see if they will extend cover. Never assume that this is automatically covered.
The best insurance company for business insurance is going to frequently vary, and is subjective to each client and their experience. For example, during high claimable events such as storms or floods, the insurers can be overwhelmed with claim volumes and their claims service could suffer. We find that Australian insurers that have been around for longer durations have better service.
Not all insurance policies are created equal. Insurance Brokers have access to the most comprehensive policy wordings on the market due to our large group network bargaining power with the insurers which has lead to higher sub limits, and lesser exclusions for our clients.
Ultimately, the best type of business insurance is a policy that will protect you in the event of a claim.
Businesses can find business insurance by doing their own research using online comparison sites but this can be detrimental for businesses if they are unfamiliar with the terminology, or don’t have the time to read the policy wordings and conditions in detail to under their responsibilities and duties. Fortunately, Morgan Insurance Brokers is a specialist Business Insurance Broker and knows the ins and outs of business insurance policies. We can provide tailored advice around the cover you will require and can source this on your behalf.
The best way to find low-cost business insurance is to engage in the services of an Insurance Broker. Morgan Insurance Brokers work on your behalf to search the entire market of insurance providers for the cheapest and low-cost insurance cover without sacrificing your cover.
The two most important part of a business package policy would be Public Liability Insurance and Fire cover for stock and contents insurance.
Small business insurance could cost between $1,000 – $3,000 per year depending on the covers that you elect to insure for. Factors such as your turnover, employee numbers, your business activities and the amount of stock and contents levels that you hold at your premise are all the biggest factors in determining insurance premiums.
Call us now to speak with aSpecialist Business Insurance Broker
admin@morganinsurancebrokers.com.au
1300109778
