If you’re running a café in Townsville, managing a plumbing business in Ingham, or operating an online store from Cairns, having the right business insurance is essential.
Queensland businesses face a range of risks: natural disasters, public liability claims, cyber threats, and more, which is why securing the right cover is crucial for long-term success and peace of mind.
What is Business Insurance?
Business Insurance is a customised package of policies designed to protect your business from various risks, including:
- Property damage (e.g. fire, storm, theft)
- Public liability claims
- Business interruption
- Theft or loss of business assets
- Cyber attacks and data breaches
- Employee injuries
Each business in Queensland is unique, and your insurance should reflect the specific risks your industry and location may face.
What Business Insurance Is Legally Required in Queensland?
If you operate a business in QLD, there are two key types of insurance that are legally mandatory:
Workers’ Compensation Insurance (WorkCover QLD)
- Compulsory for all employers (including those with casual staff).
- Covers employees for work-related injuries, medical expenses, and return-to-work support.
- Must be arranged through WorkCover Queensland.
More info: www.worksafe.qld.gov.au
Compulsory Third Party (CTP) Insurance
- Required for all registered vehicles in Queensland.
- Automatically included when you register your vehicle.
Common Types of Business Insurance in Queensland (Optional but Recommended)
While not all cover types are compulsory, the following optional business insurance policies are highly recommended depending on your business type and activities:
Public Liability Insurance
- Protects against third-party claims for injury or property damage.
- Essential for tradies, retailers, contractors, hospitality businesses, and anyone interacting with the public.
Business Property Insurance (Fire & Perils)
- Covers your premises, equipment, and stock against loss from events like fire, storm damage, or vandalism.
Theft & Burglary Cover
- Protects your contents and stock from break-ins.
- Optional cover can also include employee dishonesty.
Glass Insurance
- Covers repair or replacement of broken shopfront or internal glass, commonly required by commercial leases.
Business Interruption Insurance
- Provides financial support if you can’t operate due to an insured event (like fire or storm damage).
Machinery Breakdown Insurance
- For businesses using essential equipment (e.g. cafes, mechanics, manufacturers), covers unexpected equipment failure.
Cyber Liability Insurance
- Vital for businesses that handle client data, use online platforms, or rely on IT infrastructure.
Product Liability Insurance
- Protects against claims arising from products you manufacture, distribute, or sell.
Management Liability & Professional Indemnity
- Covers legal costs and damages from claims against directors, officers, or for professional advice errors.
Example Cover by Industry
Café/ Restaurant
Public Liability, Contents, Glass, Theft, Business Interruption.
Tradie (e.g. Plumber)
Public Liability, Tools Cover, Vehicle, Personal Accident.
Retail Store
Public Liability, Property, Theft, Glass, Business Interruption.
Digital/ IT Business
Public Liability, Cyber Insurance, Business Equipment.
Insurance Tips for NQ Businesses
Flood and Cyclone Risk
Always confirm with your policy includes flood, cyclone and storm surge cover, many standard policies exclude these or require specific add-ons.
Remote Access Costs
In rural areas, it may cost more to repair or replace equipment. Make sure your sum insured reflects this.
Contract & Lease Compliance
Check what insurance your shopping centre, council stall or government contract requires before you start trading.
Annual Policy Review
Review your cover each year, especially after adding staff, equipment or expanding locations.
Need Help Choosing Business Insurance?
Navigating business insurance in Queensland can be tricky, especially with the added risks of extreme weather and remote operations.
At Northern Insurance Solutions (NIS), our experienced brokers understand the needs of local businesses and can help you develop a tailored insurance and risk management strategy that fits.
Whether you’re reassessing your current cover or exploring options for the first time, we’re here to guide you.
Call us at our office on 07 4783 1310 or email info@northerninsurance.com.au today.
Kelli Dabelstein
Director
Northern Insurance Solutions
General Advice Warning – The information provided in this publication is general advice only and is not tailored to your specific circumstances, financial situation, or needs. We recommend seeking personalised advice before making any decisions.
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