Types of insurance policies
Perishable food or stock deterioration
Cost of replacing food or other stock due to refrigeration or power failure.
Motor insurance
All company/business vehicles must be insured for third party injury liability. A comprehensive policy covers third party property damage and own damage.
Product recall
Cost of recalling a product, except for malicious acts, such as food tampering.
Tax audit
If you're audited by the Australian Tax Office, covers the cost of your accountant preparing information required to a fixed limit.
Trade credit
Losses causes by bad creditors, especially if the business relies heavily on credit, you are moving into a new market or dealing overseas on credit terms. It can also be used if your industry looks like it is heading into a downturn.
Unregistered equipment
Insures unregistered machines such as backhoes, excavators and diggers for damage as well as theft. You'll need a separate third party liability policy for these.
Weather
Loss of crops, trade or an activity not going ahead because of weather.
