Business Insurance for Sole Traders & Small Business in Australia (2025)

Business insurance in Australia is one of those things most small business owners know they need but put off sorting. Then something goes wrong — a customer slips, a client disputes your work, a tool is stolen — and the absence of cover becomes very expensive very quickly.

Public liability insurance

This is the one most Australian small businesses need first. Public liability covers you if a third party suffers injury or property damage because of your business activities. A tradie whose apprentice damages a client's property. A café where a customer slips on a wet floor. These claims can run into tens of thousands of dollars. Public liability covers that.

Professional indemnity insurance

If you provide professional services or advice — consulting, accounting, marketing, IT, legal, design — professional indemnity covers you when a client claims your advice caused them financial loss. A client whose business suffers because of advice you gave them can pursue a claim even if you believe you did nothing wrong. The legal costs alone can be significant.

Workers compensation

Mandatory for any business with employees in Australia. Requirements vary by state. If you employ anyone — including part-time and casual workers — you are legally required to have workers compensation insurance.

What does it cost?

The easiest way to compare

BizCover is currently the most efficient way for Australian small businesses to compare insurance quotes. You enter your details once and receive quotes from multiple insurers — Allianz, QBE, Vero and others — side by side. Most sole traders can get covered in under 10 minutes.