Guide on the best business Insurances in Australia

Getting insurance is the best way to protect what’s important to your business: your employees, customers, earnings, assets (and more). That’s why it’s vital to find the right business insurance policy. However, there are dozens of providers in Australia, each offering different policy types and levels of cover, so it can be difficult to make a final decision.

In this guide, we’ll break down what to look for, explain the main types of cover available, and compare some of the best business insurance options with pricing details to help you make an informed choice in 2026.

Is business insurance essential for Australian businesses?

In most cases: yes. Some types of business insurance are mandatory in Australia, such as workers’ compensation (state-based) if you have employees, and compulsory third party (CTP insurance) for business vehicles. In certain industries or contracts, you’ll also need public liability insurance.

Even when cover isn’t always legally required, the financial risk of not getting it is significant. Just a single injury claim, fire, or data breach could cost five or six-figure sums.

For SMEs, that raises a real threat of insolvency and business closure. That’s why getting the right insurance is widely considered part of running a business responsibly while effectively managing risks.

Types of business insurances in Australia

When completing a business insurance comparison, it’s useful to know some of the main types of cover available. These include:

• Workers' compensation insurance - provides financial support and medical coverage to employees in case of any work-related injuries and illnesses. The government recommends contacting the relevant regulator in your Australian state or territory to find out the specific laws and how to comply¹.
• Public liability insurance - covers claims if a third party is injured or their property is damaged due to your business activities.
• Product liability insurance - covers you if any of your products cause injury or death to another person or business.
• Management liability insurance - protects the business, as well as its directors and senior managers, against claims arising from mistakes made while running the company (hiring and firing, financial errors, etc.)
• Personal or loss of income insurance - this is a broad category of insurance types that protect against losses to your income, and includes life insurance and income protection.
• Professional indemnity insurance - covers the costs of legal action taken against you if a client claims your advice or professional work was wrong.
• Stock and asset insurance - another broad category, this includes policies like building and contents insurance that provide coverage for damage or loss from events such as fires, storms, vandalism, and accidental damage.
• Cyber insurance - helps cover costs linked to data breaches, ransomware attacks, and other forms of cybercrime and incidents.

To find out more types of insurance specifically for LLCs in Australia, read our full guide.

Some of the best business insurances in Australia

Now, let’s do an in-depth business insurance comparison, looking at a selection of the best business insurance companies and providers in Australia to see what they have on offer and who the policies are geared towards:

Allianz Australia

Allianz is one of the most established insurers in the country with a range of small business products. Its online hub lets you get an instant quote for five main insurance policies or categories²: Business Insurance Pack, Public Liability, Commercial Motor Vehicle, Workers Compensation, and Strata Insurance.

The Business Insurance Pack is the most flexible, offering up to 12 covers with Public and Products Liability insurance as the mandatory base³. You can then add additional covers, including:

• Commercial Property
• Theft
• Money
• Business Interruption
• Management Liability
• Electronic Equipment

This is one of the best insurance options for SMEs operating from physical premises and holding lots of stock or assets. This includes retailers, tradies, hospitality venues, and service-based businesses that typically face high property and public liability risks, and need multiple covers under one modular policy.

QBE Australia

QBE provides insurance to SMEs across Australia through online sales and broker networks. Its offerings are quite extensive: there are 18 products or categories on its main business insurance page⁴.

This includes a broad Small Business Insurance package, which includes public liability insurance up to $20m and the option to tag on 8 additional covers, including Buildings and Contents, Tax Audit, and Business Interruption⁵.

Other main products include⁴:

• Business Packages - can also be tailored with up to 12 covers in one policy via a broker.
• Workers Compensation
• Commercial Vehicle Insurance
• General Liability Insurance
• Multinational - for global business risks

There are also a few industry-specific products like Aviation, Marine, Farm, and Construction for more specialised businesses. Overall, QBE is suitable for more complex SMEs that need customisation or multiple policies with one insurer.

AAMI

AAMI is a general insurance provider that covers 700+ different occupations and provides options tailored for specific industries like tradies, cafes and restaurants, trailers, salons, and domestic cleaners⁶. There’s even a Business at Home Insurance policy for remote-based enterprises like freelancers and consultants, which combines home-based cover.

Its main products include⁶:

• Small Business Insurance (customisable packages with Public Liability)
• Public Liability Insurance (standalone)
• Commercial Motor Insurance
• Market Stall Insurance
• Commercial Property Insurance

This makes AAMI well-suited to sole traders craving simple and customisable cover that can be purchased and managed online - without the complexity that goes with large commercial packages.

It’s also arguably the best public liability insurance for small business as you can buy a standalone policy quite easily online with up to a $20 million limit, and then lodge an ‘express’ settlement for claims under $15,000 (if and when required)⁷.

NRMA Insurance (National Cover)

NRMA now offers a wide range of business insurance products alongside its well-known motor and home insurance lines. It covers 800+ occupations, but highlights six main categories on its business insurance page: tradies, professionals, retailers, hospitality, health and medical, domestic services and repairs⁸.

Its main products include⁹:

• Public Liability Insurance
• Commercial Vehicle Insurance
• Professional Indemnity Insurance
• Tradies Insurance (specialised package)
• Property Insurance

One of the biggest advantages of NRMA is the multi-policy discount. If you already have two or more products like home or motor insurances with them, bundling in business cover can provide additional savings¹⁰. Its reputation for motor insurance also lends itself to vehicle-driven businesses like ridesharing.

For this reason, it’s best for micro to small business owners who want to consolidate their insurance with one provider for convenience and discount benefits.

Chubb Insurance Australia

Chubb focuses on more specialised commercial risks for everyone from startups to large corporations. Its main offering for small businesses is ‘Online Small Business Insurance’, which is available for 600+ occupations with annual turnover below $500,000.¹¹ The policies available here include¹²:

• Public liability insurance
• Professional indemnity
• Business insurance
• Cyber liability

You can tailor your policy, adding one or more as you see fit to build flexible coverage.

Chubb also has insurance tailored for growing businesses with revenue up to $50 million via its ‘Benchmarq’ package¹¹. This is geared towards 5 main industries: real estate, professional services, retail, wholesale, and manufacturing - and requires a broker¹³.

Overall, Chub is best for smaller businesses with high cyber crime and fraud risks, or international operations.

Zurich Insurance

Zurich brings global insurance expertise to Australian SMEs, mainly with coverage through a ‘Business Pack’. There are 13 cover options in this bundle, including property damage, flood cover, business interruption, stolen money, and employee fraud. It says these are designed to get businesses back up and running quickly after unforeseen events and claims¹⁴.

Zurich also offers a Priority Settlement Service for property claims under $30,000, where it aims to pay out within 48 hours¹⁴. There is an emphasis on speed and support here, making it well-suited for businesses that can’t afford extended downtime, such as retailers and tradies.

Wise Business: Managing global finances beyond insurance

Choosing the right insurance helps protect your physical and professional assets, but maintaining a healthy bottom line requires smart financial management too.

Wise Business helps solve the complexity of global operations by providing a multi-currency account where you can pay international suppliers or staff without the sting of hidden bank markups.

By using the mid-market exchange rate and offering local account details in 8+ major currencies, Wise helps businesses spend less on foreign currency transactions than needed.

A Wise Business account allows users to can send, receive, and hold in multiple currencies. Experience hassle-free global transactions by transacting like a local business. Here's what you get with a Wise Business account:

• Free to register — Hold and convert between 40+ currencies. Send to 140+ countries
• Debit cards for you and your team, which you can use in 150+ countries
• Multi-user access for team members, with ways to control and manage permissions
• Pay up to 1,000 recipients at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions like Xero, QuickBooks, and more
• Get account details to receive in 8+ currencies for a one-time fee of 65 AUD
• Earn potential returns** on your everyday money through Wise Interest

Sign up for the Wise Business account! 🚀

This general advice does not take into account your objectives, financial circumstances or needs and you should consider if it is appropriate for you.
**Capital at risk, growth not guaranteed. Interest is the name of a custody and nominee service provided by Wise Australia Investments Pty Ltd in partnership with Franklin Templeton.

Sources:

1. Business Gov Au - Types of business insurance
2. Allianz - Business Insurance
3. Allianz - Business Insurance Pack
4. QBE - Business Insurance
5. QBE - Small Business Insurance
6. AAMI - Business Insurance
7. AAMI - Public Liability Insurance
8. NRMA - Business Insurance Industries
9. NRMA - Home Page
10. NRMA - Business Insurance
11. Chubb - Business Insurance
12. Chubb - Small Business Insurance
13. Chubb - Benchmarq
14. Zurich - Business Insurance