Professional Indemnity Insurance
Forget long delays for your insurance quote - we'll help you get the business insurance you deserve to ensure you thrive!
✅ Fast turnaround times
✅ Multiple quote options provided
✅ Tailored to broad range of businesses
Why business insurance is a must
Big or small, every business faces risks. Things like storms, accidents, or unexpected events can happen at any time. If they do, the costs could be huge and even put your business at risk. Don’t gamble with your company’s future, protect it with business insurance.
How Tank Insurance can help
We make insurance easy by finding policies that protect your business from risks, at a price that works for you.
Because every business is different, our Sydney-based team takes the time to understand how your business runs and what it needs. That way, we can find the right cover to keep you protected.
What does business insurance cover?
Business insurance can come as standalone policies, or in a business insurance package. Here are some of the most common insurances you might want to consider.
Professional Indemnity
Protects professionals against claims of mistakes, negligence, or wrongful advice.
Public Liability
Covers injury, property damage, or legal costs if someone makes a claim against your business.
Property Cover
Helps pay for repairs or replacement if your business property is damaged.
Cyber
Protects your business from hacking, ransomware, data breaches, and related fines or costs.
Equipment
Covers repair or replacement costs if your machinery or equipment breaks down.
Business Interruption
Covers lost income and extra costs if your business is disrupted by property damage.
Frequently asked questions
Do I legally need business insurance to operate my business?
In many cases, certain types of business insurance are legally required. For example, if you employ staff, workers’ compensation is mandatory in Australia. Some industries also require professional indemnity or public liability insurance as part of licensing or contracts. Even when not legally required, having insurance protects your business against unexpected risks that could otherwise be financially devastating.
Can I bundle multiple types of business insurance into one policy?
Yes. Insurers often offer Business Pack Insurance, which bundles common types of cover such as property, liability, theft, and business interruption into one policy. Bundling can make managing your insurance simpler and sometimes more cost-effective than purchasing separate policies.
How often should I review my business insurance policy?
It’s recommended to review your policy annually or whenever your business undergoes major changes, such as hiring new staff, expanding operations, moving premises, or launching new products. Regular reviews ensure your cover stays aligned with your risks and avoids underinsurance.
What is underinsurance, and why is it a risk for business owners?
Underinsurance occurs when your insurance cover isn’t enough to replace your business assets or cover potential losses. For example, if you insure your property for less than its true replacement value, you may only receive partial compensation in a claim. This can leave your business financially exposed.
Does business insurance cover cyber risks and data breaches?
Traditional business insurance usually does not cover cyber incidents. For protection against hacking, ransomware, or data breaches, you need cyber liability insurance. This can help with the costs of data recovery, notifying affected customers, and legal liabilities if sensitive data is compromised.
What happens if my business can’t operate due to an unexpected event?
This is where business interruption insurance comes in. It helps cover lost income and ongoing expenses (like rent and wages) if your business is temporarily unable to operate due to insured events such as fire, flood, or storm damage.
How do insurers calculate the cost of my business insurance premium?
Premiums are based on factors such as the size and type of your business, industry risks, claims history, number of employees, and the level of cover you choose. For example, a café with high customer foot traffic may pay more for liability cover than a home-based consulting business.
Do I really need to use an insurance broker for my business insurance?
While it’s possible to buy insurance directly, working with a broker ensures you get tailored advice and cover that matches your business risks. Brokers understand the fine print, exclusions, and industry requirements, saving you time and reducing the chance of costly gaps in cover. A broker acts as your advocate, not the insurer’s, so you have someone on your side when it comes to claims and policy reviews.
Why should I use a broker instead of buying business insurance directly online?
Buying direct often means one-size-fits-all cover, which can leave you exposed if your business has unique risks. A broker compares policies across multiple insurers, negotiates better terms, and explains the differences in plain language. Most importantly, brokers provide ongoing support, helping you adjust cover as your business grows and representing you in the event of a claim. This level of service and protection simply isn’t available when going direct.
