SERVICES / Business Insurance
WHAT IS BUSINESS INSURANCE?
Business insurance represents a viable risk transfer solution protecting against loss or damage to property arising from an unforeseen insured event and/or accidental damage. Whether you are a sole trader, small business or large corporation, each business insurance policy is customised to meet your specific requirements.
There is also the option to cover consequential loss of revenue or gross profit resulting directly from an insured event which prohibits continuity of your operations. This ensures cash flow is maintained allowing you to meet ongoing costs and retain staff whilst the business is not trading following an incident.
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Common Types of Business Insurance for Perth Businesses
Business insurance in Perth is not a single product. Most policies are built from a combination of covers, selected based on the nature of your operations, your industry, and the risks you carry day to day.
The most common types held by Perth businesses include:
Public Liability Insurance
This covers legal expenses and compensation costs if your business is held responsible for injury, death, loss, or damage to a third party or their property.
Particularly relevant for businesses with customer-facing premises, subcontractors on site, or regular public interaction.
Professional Indemnity Insurance
Covers claims arising from professional advice or services that result in financial loss for a client.
Required by many licensing bodies in WA, and increasingly expected by clients across consulting, engineering, financial services, and health industries.
Product Liability Insurance
This covers claims arising from injury, death, or property damage caused by a product your business manufactures, supplies, or distributes.
This is often bundled with public liability cover.
Business Interruption Insurance
This provides coverage for loss of income and increased costs of operating your business caused by a specified insured event (like property damage).
Workers Compensation Insurance
Mandatory type of insurance for all employers in Western Australia. Managed through WorkCover WA, this cover protects employees who sustain work-related injuries or illnesses and shields employers from direct financial liability for medical costs, rehabilitation, and wage replacement.
Directors & Officers Liability
A policy that covers claims from a wide range of management liabilities, such as; directors and officers liability, company reimbursement, company liability and employment practice liability.
The appropriate combination of these covers depends on your business structure, industry, whether you employ staff, your client contracts, and the assets you need to protect. A business insurance broker can assess your exposure and recommend the right mix, rather than defaulting to a packaged policy that may leave gaps.
We also encourage business owners to compare business insurance quotes properly, rather than choosing on price alone.
Business Insurance in Perth: Industry Considerations
Perth's economy differs from that of the East Coast. The industries that drive Western Australia carry risks that general-purpose business insurance policies often fail to address. At Westside Insurance Specialists, our client base reflects that reality, and so does the cover we arrange.
Mining and Resources
Western Australia accounts for the majority of Australia's mineral production. Businesses operating in or servicing the mining sector, whether as principal contractors, specialist subcontractors, or equipment and parts suppliers, face a risk profile that demands specialist treatment.
Standard business insurance policies often contain blanket exclusions for underground operations, heavy plant, or contracting on mine sites. Policies need to be structured to account for the value of mobile plant and equipment, site-specific liability requirements from principal contractors, fly-in fly-out operations, and strict WA mining industry licensing obligations.
We arrange cover for businesses across the full mining services supply chain: geotechnical contractors, drilling companies, earthmoving operators, equipment hire businesses, maintenance and shutdown contractors, and professional services firms supporting the sector.
Rural and Farming
Farming and agricultural businesses in WA face weather, isolation, and supply chain risks that urban business owners rarely encounter. Cover for rural properties and farming operations typically needs to extend beyond a standard commercial property policy.
Considerations specific to WA rural businesses include: the distance from emergency services and the impact that has on claims response; exposure to bushfire during extended dry seasons; the insured value of livestock, grain crops, and specialist farm machinery; and workers' compensation obligations for seasonal and contract labour.
A rural insurance policy structured for a Wheatbelt mixed farming operation looks very different from one suited to a horticultural business in the South West or a pastoral lease in the Pilbara. Getting the coverage right requires understanding how the business actually operates.
Not-for-Profit Organisations
Community organisations, charities, industry associations, sporting clubs, and social enterprises in Perth operate under a different governance and risk framework than commercial businesses. Committee members and volunteer directors carry personal liability exposure that standard business insurance does not automatically address.
Not-for-profit organisations typically need to consider: management liability cover for committee members and office bearers; voluntary workers' personal accident insurance; public liability for events and fundraising activities; and professional indemnity for organisations that provide advice, counselling, or referral services.
Many organisations in this sector also have compliance obligations tied to their DGR status, ACNC registration, or state fundraising licences that affect how their cover needs to be structured.
Why Use a Perth Business Insurance Broker?
When you deal directly with an insurer, you are limited to that insurer's products. A broker works across multiple insurers to find the policy that best matches your risk profile, and negotiates on your behalf when claims arise.
For Perth businesses, working with a local broker has additional advantages. A broker based in WA understands the regulatory environment, the local industry risks, and the claims history of businesses like yours. That context matters when structuring cover and when advocating for a fair outcome with an insurer.
At Westside Insurance Specialists, we are authorised representatives of Insurance Advisernet, one of Australia's largest general insurance broker networks. That gives our clients access to a wide panel of insurers while retaining the personal service of a Perth-based team that knows your business.
We do not sell policies off a shelf. Every business insurance package we arrange starts with an assessment of what you actually do and what you stand to lose, then we build the cover accordingly.
WHAT INSURANCE DO I NEED FOR MY BUSINESS?
The type of insurance your business may need will greatly depend on the nature of your business, your location, number of employees, and various other factors. It is best to consult one of our professional insurance specialists to determine what type of business insurance is most suitable for the proper coverage of your business.
THE BENEFIT OF HAVING BUSINESS INSURANCE
BUSINESS INSURANCE PROVIDES PEACE OF MIND
With business insurance, you can rest easy knowing that your business is protected from unforeseen events leading to loss or damage to your business property and any consequential financial loss.
BUSINESS INSURANCE HELPS COPE WITH UNEXPECTED EVENTS
Business insurance helps you cope with the unexpected that comes with running a business. Knowing that you are protected if something goes wrong gives you the freedom to focus on growing your business instead of worrying about potential disasters.
BUSINESS INSURANCE PROTECTS YOUR CUSTOMERS AND EMPLOYEES
Business insurance assists business owners who may be forced to suspend their operations in the event of a claim, leaving their customers and employees high and dry. Business insurance can ensure that your customers and employees have peace of mind that your operation will continue uninterrupted during an unforeseen event and are protected from the risks you face as a business owner.
Frequently Asked Questions
It depends on your industry, turnover, number of employees, the covers you include (such as public liability, professional indemnity or business interruption) and your claims history. As a broker we compare options across multiple insurers to find the right cover at a competitive premium. Request a quoteThis file is outside this session’s folders, so it can’t be opened here. and we will give you a tailored figure.
WHY CHOOSE WESTSIDE FOR YOUR BUSINESS INSURANCE
Westside Insurance Specialists provides professional, responsive and personalised insurance services. Our specialist insurance advisers work with you to define your risk exposures and appetite, design a robust insurance program and deliver cost-effective insurance solutions meeting the specific objectives of your business.
You can rely on our extensive experience to secure the right insurance products, allowing you to focus on core business activities and implement strategies to achieve operational growth targets. Contact us here for a quote.