Business Insurance - Basics to Have

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2 hours ago
2 min read

Insurance should work for your business every day. We make our products smarter and more useful so you can have confidence that your business can keep doing what it’s good at.

BusinessPlan

Insurance is important for keeping your business on the go, yet it’s often seen as a low priority. Our BusinessPlan insurance allows you to focus on running your business knowing you’re covered for a range of risks.

You can choose different cover types to build a customised insurance plan, which can also make it easier if you need to claim.

Business insurance cover available

Business vehicles

From one vehicle through to large fleets. We can cover damage to your business vehicles, liability for damage to other vehicles, costs for load recovery and salvage costs as well as some other defence and liability costs. e.g. liability under the Sentencing Amendment Act 2014.
Material damage

Covers loss or damage to your specified commercial buildings, contents, plant, stock, and other assets. Features include cover while your business assets and stock are being transported, theft from locked vehicles, cover for costs incurred to protect your property (e.g. if there is a fire on a neighbouring property).
Business interruption

If a business stops, it fails. We make it our business to keep you going. Our Business Interruption policy covers you for your financial loss if your business is interrupted by:
- damage at your premises, including interruption of water, power or gas to your business
- interruption to the supply of goods to your business
- access to your property being limited or cut off.

Broadform liability
- Provides cover if your business is legally required to pay compensation for personal injury or property damage.
- Employers liability
- Although ACC provides cover for injury, taking out most bodily injury liability exposures, there is some residual exposure for employers that this product responds to.
- Statutory liability

Covers defence costs and the cost of some fines and penalties ordered against you by the courts, as a result of unintentional breaches of most laws. There is also cover for reparation ordered under the Health & Safety at Work Act.

Machinery breakdown

We understand that specialist machinery can be a significant investment for your business. This is designed to cover the cost to repair or replace it if it’s damaged as a result of a mechanical or electrical breakdown. If your team can repair it, we’ll cover the cost of parts and labour. We’ll also cover transport costs, which can really add up if the parts or machinery need to be sourced overseas.