What is the difference between BizCover and an insurance broker?
BizCover is an online insurance marketplace. You enter your details, receive quotes from multiple insurers, and purchase a policy yourself. It is fast and convenient for simple risks.
An insurance broker like Tank Insurance operates differently:
- We assess your specific situation and recommend cover tailored to your occupation and contract requirements.
- We explain policy wording, exclusions, and extensions before you buy.
- We act as your advocate if you need to make a claim.
The core difference is advice. BizCover provides a transaction. A broker provides guidance.
Can I find my occupation on BizCover?
Online platforms rely on standardised occupation lists. If your job title or business activity does not match their categories, you may be unable to get a quote, or worse, you may select a category that does not accurately reflect your work.
This creates risk. If your occupation is misdescribed on your policy, a claim could be denied.
At Tank Insurance, we work with underwriters who allow custom occupation descriptions. We know which insurers are flexible and which policy wordings suit non-standard professions. This is particularly relevant for:
- Consultants operating across multiple disciplines.
- Emerging professions not yet recognised in dropdown menus.
- Businesses with hybrid service offerings.
Do I get advice with BizCover?
BizCover holds a brokerage licence but operates as a technology platform. The model is designed for self-service. You compare, you choose, you buy.
This works well if you already understand:
- What type of cover you need.
- Which policy extensions are relevant to your contracts.
- How exclusions might affect a future claim.
If you are unsure about any of these, you are making decisions without guidance. A broker provides that guidance as a core part of the service.
What if my occupation is not listed on an online platform?
Online insurance platforms use standardised occupation lists to automate quoting. If your job title or business activity does not match their categories, you may be unable to get a quote or may need to select a category that does not precisely reflect your work.
Selecting an imprecise occupation is not ideal. Your policy should accurately describe what you do.
At Tank Insurance, we work with underwriters who allow custom occupation descriptions. If your profession sits outside standard categories, we find the right fit rather than forcing a compromise.
What happens when I need to make a claim?
Both BizCover and Tank Insurance assist with claims, but the relationship differs.
With BizCover: You complete an online claims form and BizCover lodges it with the insurer on your behalf. They follow up on progress and provide updates. However, BizCover acts as an agent of the insurer during this process, facilitating communication rather than advocating for you as the policyholder.
With Tank Insurance: You notify us and we handle the claim from there. We act as your advocate, not the insurer's agent. If there is a dispute or a coverage question, we represent your interests and push for the best outcome on your behalf.
For straightforward claims, both models work. For complex or disputed claims, having an advocate in your corner rather than a facilitator can influence the result.
Who is BizCover best suited for?
BizCover is a strong option for:
- Businesses with simple, clearly defined operations.
- Owners who are confident navigating insurance decisions independently.
- Those prioritising speed and cost over advisory support.
There is nothing wrong with this model if it fits your situation.
Who is Tank Insurance best suited for?
Tank Insurance is built for businesses that need more than a transaction:
- Professional services firms with complex risk profiles.
- Occupations that do not fit neatly into online categories.
- Business owners who want policy wording reviewed before purchase.
- Anyone who values having a dedicated contact for claims and renewals.
If you have ever read a policy document and felt uncertain about what is actually covered, that uncertainty is what a broker resolves.