What are my small business insurance requirements?   

Small businesses with employees are required by law to take out Workers Compensation Insurance to cover those employees.  It is also highly advisable to insure all of the business assets such as stock, contents, glass, buildings etc. against accidental damage, storm and theft as a minimum.  Public Liability is also very important in order to cover any claims for third party property damage or personal injury.

Westralian Insurance is a small business, who understands small business.  If your business insurance is due for renewal, or you simply have insurance questions, call our fully qualified, friendly team today, on (08) 9302 1388 or visit www.westralianinsurance.com.au

What is the best insurance for self-employed?

Income Protection is a very useful policy for self-employed sole traders that don’t qualify for Workers Compensation.  This covers your income in the event of illness or injury preventing you from being able to work.  It often covers up to 80% of your income paid either weekly or monthly, depending on the policy wording.  

The main way that Income Protection differs from Workers Compensation is that it does not have to be a work-related injury or illness in order for you to claim. However, medical expenses are not covered in the same way as Workers Compensation, only your ongoing income or wages are insured.  If you are thinking about taking out Income Protection it’s important to speak to a specialist insurance broker, who has the relevant licence to sell this type of insurance policy.

Westralian Insurance are here to help!  Call (08) 9302 1388 or visit www.westralianinsurance.com.au for more information.