Business Insurance 27/10/2020

Allianz Business Insurance

Allianz currently serves more than 3 million local businesses in Australia – offering workers compensation to around 25% of Australian employees and insurance to over 50% of the top 200 companies.

The Allianz business insurance line-up includes a wide range of risk management products, including small business insurance, public liability, farm insurance, and commercial and corporate insurance.

 

Why do you need business insurance?

When an accident happens, your business runs the risk of financial loss or damage to your reputation.

For example, your restaurant accidentally serves contaminated food, and your clients get sick. You could be forced to pay thousands of dollars for their medical bills all because of a simple mistake.

This is what business insurance is for – to protect your company from liabilities.

 

When do you need business insurance?

  • When you injure someone – a customer slips and falls on your retail premises
  • When you damage someone’s property – one of your car wash employees accidentally spills chemicals into the car interior
  • When you get sued for a faulty product – one of the batteries you sold overheats, catches fire, and causes harm to a customer
  • When you give incorrect advice or service – the house design you created shows an architectural flaw after the building has already been built
  • When you commit safety violations – you could be penalised for violating occupational health and safety regulations
  • When business-specific accidents occur – your business might need coverage against theft or natural disasters like fire

What types of business cover does Allianz offer?

  • Small business insurance
  • Public and product liability
  • Business vehicle and commercial motor insurance
  • Commercial and corporate insurance
  • Farm insurance

What does Allianz small business insurance cover?

Allianz provides insurance cover for more than 2,000 occupations. These products include:

  • Public and product liability up to $20 million – covers your liability for personal injury or third-party property damage resulting from work
  • Theft – covers the loss of valuable content stored at your premises
  • Business interruption – covers financial loss resulting from the interruption of your business operations with the option to increase the amount of coverage
  • Glass – covers the damage of internal or external glass on your premises
  • Money – covers cash in transit or stored on your premises during business hours
  • Material damage – covers replacement of damaged stock
  • General property – covers tools, equipment and stock while away from your premises
  • Personal accident – covers you if you cannot work for more than two weeks due to injury

Allianz public and products liability cover

Third-party claims of personal injury and property damage can amount to millions of dollars – which is why every business should get public and products liability cover.

If you purchase Allianz business insurance, you will have a choice of $5 million, $10 million or $20 million limits of indemnity.

Personal injury to a third party includes:

  • Death, physical injury, illness, disability, shock, and mental anguish
  • Invasion of privacy
  • Physical assault or battery
  • False arrest, wrongful detention, and malicious prosecution
  • Libel, slander, or defamation of character
  • Wrongful eviction

Third-party property damage includes:

  • Loss or damage to tangible property
  • Loss of use of property due to damage to other tangible property

Allianz Business Vehicle and Commercial Motor Insurance

Allianz offers commercial motor insurance cover for up to 20 company-owned vehicles including sedans, wagons, utes, 4WDs, and vans with up to five-tonne load capacity. It also includes up to $5,000 cover for additional accessories, up to $5,000 cover for gates, chains and tarpaulins, ropes, up to $1,000 for personal property, and up to $30 million for third-party property damage.

 

Allianz Commercial and Corporate Insurance

Drawing from the global expertise of the worldwide Allianz Group, Allianz Business Insurance Australia offers a comprehensive range of insurance products designed to meet the needs of commercial and corporate businesses. These include:

  • Trades and services
  • Property
  • Risk finance
  • Professional indemnity
  • Construction liability
  • Marine
  • Transport and machinery

Allianz Farm Insurance

Allianz farm insurance provides a wide range of policy options for three categories:

  • Farms pack – covers home property, farm property, farm vehicles, personal accident and sickness, land transit, pleasure craft, machinery breakdown, electronic equipment, theft of farm property
  • Hobby farms – defined as a farming business that does not exceed 50 hectares and is generating an income of $15,000 or less per year
  • Crop insurance – covers your crops against natural disasters such as fire, drought, wind, hail, floods, frost, excessive rainfall, and pest infestation

How to make a claim for Allianz business insurance

The Allianz claims process is simple and straightforward. Just download a claim form from their website and submit through post or fax. Alternatively, you can make a claim through phone or online – the entire process done in less than 10 minutes.

 

Want to know more insurance options for your company? Check out our other business insurance reviews here.