Comparing Business Insurance Options in Australia for 2025: Providers, Policy Types, and How to Quote

Business insurance in Australia in 2025: what matters when you compare

For many Australian business owners, the challenge is balancing two competing needs: finding an insurer that will pay claims reliably, and keeping premiums within budget. In 2025, the market includes a mix of large insurers, direct-to-customer brands, specialist underwriters, and broker or comparison platforms that help you gather quotes quickly. The most useful approach is to compare on more than price alone—looking at policy breadth, claims service, value, and any recent policy upgrades that affect how cover works in practice.

It also helps to start with a clear view of what cover is required by law versus what is elective. While many types of cover are optional, they can still be critical depending on your business model, assets, and contractual obligations. Premiums can vary significantly based on risk profile and the combination of covers you choose, so it’s worth understanding typical pricing ranges and the information you’ll need to obtain accurate quotes.

What business insurance is mandatory—and what is elective

Only three policies are described as mandated nationwide: workers’ compensation, compulsory third party (CTP) for registered vehicles, and—depending on the trade—public liability. Everything else is elective, but often treated as indispensable by businesses that want to protect property, revenue, and operational continuity.

Elective cover can include protection against property damage, stock spoilage, cyber incidents, and business interruption. The right mix depends on your exposures: the assets you own, the services you deliver, the contracts you sign, and whether you rely on vehicles, premises, or digital systems to operate.

Premium ranges: why quotes can look wildly different

Premiums vary widely across industries and business sizes. As an example of the spread, low-risk sole traders may secure $5 million public liability for about $450 a year. At the other end of the spectrum, a café combining property, liability, and business interruption cover often starts near $1,500. These figures illustrate why comparing like-for-like cover is essential: the premium reflects both the risk and the scope of the policy.

When comparing providers in 2025, common evaluation factors include financial strength, breadth of wording, claims service, overall value, and the latest enhancements made to products and underwriting processes. Even within the same insurer, the path you take (direct purchase versus broker-negotiated placement) can influence price, flexibility, and how much guidance you receive.

Seventeen business insurance options to consider in 2025

The following providers and platforms are frequently quoted in 2025 comparisons because each tends to excel in a particular niche—such as public liability, professional indemnity, cyber, commercial motor, or an all-in business pack. Some are insurers, some are brokers, and some are comparison engines. The practical takeaway is to match the channel and the provider to your needs: speed and convenience, specialist underwriting, advice-led service, or negotiated pricing.

National Cover: price-focused disruption for motor-heavy SMEs

National Cover is positioned as a newer, price-beat specialist that first proved it could beat car premiums for rideshare and courier fleets. During 2024–25, it built an SME “all-risk” suite and expanded its ASIC-licensed pricing staff. The stated outcome is broader cover while maintaining sharply researched rates.

It is described as a fit for micro-to-medium operators that rely on a ute, van, or passenger fleet—such as tradies, delivery app operators, and regional service businesses—who want a low premium without stripping out benefits. One noted limitation is that brand recognition outside motor is still growing, and as a digital-first insurer it does not operate high-street branches.

Quoting is presented as fast: you can quote online in under five minutes or call the Sydney team. You may need your ABN, last year’s turnover, and vehicle registration details. It also notes that the provider can calculate unearned premium from an old insurer to support switching mid-term without paying twice.

QBE: large-insurer backing with tailoring and broker support

QBE is described as a “big-three” option for owners who want large-insurer backing with tailoring. It released a refreshed SME wording and a claims analytics platform in March, positioning it for businesses seeking a single insurer to cover property, liability, and vehicles.

Key strengths cited include scale, deeper claims analytics, and a national assessor network—useful when a storm impacts multiple states. Multi-policy clients can access discounts up to 15%, and brokers reportedly value QBE’s appetite for mixed asset and vehicle programs.

Potential drawbacks include that buying direct can be noticeably pricier than broker-negotiated rates, and policy wordings can exceed 100 pages, increasing the risk of missing exclusions when self-serving. Practical tips include using a broker or the SME FastFlow process to pre-fill ABN data, considering a higher excess (for example, $1,000 instead of $500) to potentially reduce premiums by around 8–10%, and comparing a stand-alone cyber quote against a pack extension before committing.

Allianz: direct access with a faster quoting rebuild

Allianz is positioned for owners who want direct access to a large-balance-sheet insurer with a long presence in Australia. Its 2025 rebuild is described as focusing on speed, with an upgraded quote engine that pulls ASIC and ABR data quickly and funnels it into the proposal.

The underwriting process is described as detailed, so it helps to gather required details before starting. The quote engine allows you to adjust excesses on screen and receive policy documents instantly once payment is made. For businesses comparing multiple providers, the operational advantage here is a faster, more automated quoting pathway—provided you are prepared for the level of underwriting questions.

CGU: broker-led service with “CGU Plus” risk resources

CGU, part of IAG, is described as combining long-standing underwriting with a 2025 refresh aimed at owner–operators who want robust wordings and advice-driven service. The “CGU Plus” initiative is presented as adding risk-management resources to every policy, appealing to businesses that want more than just price.

The quoting pathway begins with an online pre-quote form collecting ABN, turnover, premises details, and past claims. You receive an indicative premium, then a broker finalises endorsements and confirms excess levels. Selecting higher voluntary excesses is noted as a way that can unlock extra discounts.

AAMI: direct quoting speed and multi-policy discounts

AAMI is positioned for owners who prefer dealing direct rather than through a broker. Backed by Suncorp, it insures more than 60,000 local SMEs and promotes an online quote process that rarely exceeds five minutes.

A practical comparison point is bundling: the guidance suggests bundling business cover with an existing AAMI motor or CTP policy, with multi-policy customers currently receiving around 10% off both premiums. This is framed as worth a phone call to activate, implying the discount may not always be applied automatically.

BizCover: broker platform for fast side-by-side comparisons

BizCover is described as a licensed broker rather than an insurer, designed for owners who want a quick reality-check on price without contacting multiple insurers individually. It provides side-by-side premiums and policy summaries from multiple carriers in under five minutes, using pre-negotiated rates with insurers such as QBE, Hollard, and Chubb.

The process involves completing one form covering industry, revenue, staff numbers, and past claims. The platform returns a grid listing price, excess, key inclusions, and insurer financial rating. You can then select a policy, pay by card or monthly debit, and receive documents within minutes.

Accuracy is emphasized: entering the correct ANZSIC code, realistic revenue, and full claim history helps ensure the rates returned are genuine. If a business is borderline high-risk and the automated system declines, calling the adviser team is suggested as a way to manually source a quote. The final step recommended is downloading each wording and checking sub-limits before purchase.

Compare the Market: a broad SME panel for quick premium checks

Compare the Market is described as having built a 12-carrier SME panel over the past two years, offering another fast way to sanity-check premiums. Its focus is described as breadth rather than deep advice, with bundling incentives and a streamlined interface.

The carrier line-up is stated to include Allianz, Vero, QBE, Hollard, Guild, and several Lloyd’s agencies. To quote, you should have your ABN and last 12 months’ turnover ready. The platform runs an automatic data match with the Australian Business Register and a soft credit check when you choose monthly instalments; discrepancies can increase the quoted price. Practical steps include reviewing each wording and screenshotting the comparison grid for your records before choosing the best fit.

Vero: broker-favoured property and interruption wordings

Vero is presented as a strong option on many brokers’ panels, particularly for sturdy property and business-interruption wording that has stood up in court. Its 2025 refresh is described as lifting catastrophe sub-limits and streamlining endorsements, positioning it as a dependable mid-market choice.

A specific broker prompt is to ask for the optional ‘UltraCover’ flood and supply-failure extensions before storm season. For businesses in weather-exposed areas or those reliant on utilities and suppliers, this is a reminder to compare not just base cover but also the availability and cost of extensions.

NRMA: extending an existing relationship into SME packs

NRMA is positioned for owners who already use it for car or home insurance and prefer to keep cover “under one roof.” Its move into SME packs during 2024 is framed as enabling long-time roadside-assist members to extend that relationship to the workplace.

Bundling is again a key theme: the suggestion is to bundle roadside assistance and motor with the Business Pack, then increase the burglary excess to $1,000 if you have monitored alarms. This is described as reducing premiums by $120–$200 a year for many café and tradie clients, illustrating how security measures and excess settings can materially affect pricing.

Chubb: complex risks, overseas trade, and higher-end cover needs

Chubb is described as a heavyweight option brokers use when a standard retail pack is not sufficient. It is positioned for SMEs that trade overseas, handle sensitive data, or build prototypes, particularly where turnover is growing or multiple jurisdictions are involved.

The quoting and underwriting emphasis is on detailed risk-mitigation information—such as firewalls, QA processes, and export percentages. Demonstrating ISO 27001 (or equivalent) is said to reduce cyber premium by 8–12%. Another broker recommendation is requesting “Blanket Contractual Liability” if you regularly sign client master-service agreements. For comparison purposes, this highlights that some insurers may be more responsive when you can document controls and contractual exposures clearly.

Zurich: sustainability-first positioning and documented eco-measures

Zurich’s Australian arm is described as targeting local SMEs with a sustainability-first push. It is framed as relevant if your operation tracks carbon or holds offshore contracts, with 2025 upgrades described as worth considering in those circumstances.

To support quoting, it suggests providing sustainability certifications such as Green Star or ISO 14001 and evidence of energy-efficiency upgrades. Documented eco-measures are described as being rewarded with rate loadings trimmed by up to 12%, while higher deductibles (around $1,000+) can reduce premiums by a further 6%.

GIO: a middle ground between direct purchase and broker complexity

GIO, also in the Suncorp stable, is positioned for owners who want more advice than a purely direct channel but do not want to navigate broker paperwork. Its 2025 “Business Protection” refresh is described as tightening flood definitions, adding an optional nil-excess glass module, and keeping pricing competitive for suburban retail, hospitality, and trade operators.

Pricing levers mentioned include volunteering a higher burglary excess (for example $1,000) if you have monitored alarms and deadlocks, with an estimated premium reduction of roughly 7%. It also suggests requesting a multi-policy discount if you already hold home or motor cover with any Suncorp brand.

DUAL Australia: specialist cover for PI, management liability, and cyber

DUAL Australia is described as a specialist Lloyd’s cover-holder focused on gaps that standard business packs may not cover well—particularly professional indemnity, management liability, and cyber. It is positioned for white-collar SMEs seeking higher limits without an enterprise price tag, with rapid online binding.

The recommended approach is to work with a broker who can combine DUAL’s PI or cyber with another carrier’s property and liability pack to create end-to-end protection. Underwriting support tips include uploading detailed CVs, engagement letters, and QA procedures to the WebRater, with clear documentation said to trigger 5–8% premium credits and smoother sign-off.

Smart Business Insurance: boutique brokerage for micro-businesses

Smart Business Insurance (SBI) is described as a boutique brokerage rather than an insurer, built for micro-businesses that can feel underserved by large comparison sites. It operates nationally with phone-based advisers and specialises in businesses with turnover under $5 million.

The process begins with a two-minute call-back form covering industry, headcount, and annual turnover. Keeping your ABN and past claims summary ready is recommended, with an adviser expected to call back—often within an hour—with preliminary pricing and next steps. For owners who want help translating policy language without heavy advisory fees, this is presented as a key differentiator.

Youi: phone-based underwriting and pricing based on detail

Youi is described as applying a granular, detail-driven underwriting approach to SME cover, introduced in 2023. Instead of quick online forms, it relies on a phone interview, with the idea that the more detail you provide, the more the dynamic pricing engine can reward low-risk behaviour.

This can be relevant if you have strong security and a tidy claims history and can spend around fifteen minutes on the call. A practical tip is to list every security measure—deadlocks, monitored alarms, roller shutters—because clients who can tick three or more measures are described as often seeing premiums drop by 8–12%.

Aon: industry scheme programmes with negotiated rates

Aon is described as a major broker that runs more than 40 “scheme” programmes bundling cover, education, and negotiated rates for niche industries. This model can be useful when your profession aligns with a scheme wording designed for your sector.

The suggested starting point is an online quote builder where you choose profession, turnover, and staff count and the system pre-loads the relevant scheme wording. If guidance is needed, a “call me” option connects you to a specialist adviser who can adjust limits or add cyber quickly.

Steadfast broker network: pooled buying power and broader wordings

Steadfast is presented as a broker network with significant collective buying power, pooling volume across more than 3,100 brokers who place more than $11 billion in premium annually. The stated benefit is negotiating broader wordings and sharper pricing than many SMEs can secure independently.

Practical steps include interviewing at least two brokers in the network, requesting fee disclosure statements upfront, and asking for quote comparisons that include both network-exclusive and open-market wordings before committing. For comparison purposes, this is a reminder that the broker market can be a distinct channel from direct insurers and online comparison tools.

How to compare effectively: a practical checklist

No two ventures share the same risk profile, so the most suitable policy is the one that mirrors your balance-sheet exposures and performs when a claim occurs. While speed and convenience matter, the comparison process works best when you can verify what is included, what is excluded, and whether sub-limits and extensions match your real risks.

• Confirm which covers are mandatory for your situation (workers’ compensation, CTP for registered vehicles, and—depending on your trade—public liability).
• Identify elective covers that may be indispensable for your operations, such as property damage, stock spoilage, cyber, or business interruption.
• Prepare key quoting information (commonly ABN, turnover, premises details, staff numbers, vehicle registration details, and past claims history) so quotes are accurate and comparable.
• Compare excess levels and test the premium impact of voluntary excess changes (several providers note meaningful reductions when excess increases).
• Download and read policy wordings and check sub-limits before buying, especially when choosing the cheapest option in a comparison grid.
• If you choose monthly instalments via a platform, be aware that data matching and soft credit checks can affect the final price if details do not align.

Choosing a channel: direct insurer, broker, or comparison platform

In 2025, the “best” route to purchase can depend as much on your preference for advice and complexity as on the provider itself. Direct insurers can suit owners who want speed and a straightforward purchase journey, while brokers can be valuable where wordings are complex, risks are unusual, or you want an advocate to negotiate terms. Comparison and broker platforms can be useful for quickly benchmarking premiums and narrowing down a shortlist, provided you still review the underlying wordings.

Across the providers discussed above, the recurring themes are consistent: accurate input data leads to more reliable quotes, documented risk controls can influence pricing, and optional extensions (such as flood or supply-failure features) can matter as much as the base policy. A careful comparison process—focused on fit, clarity, and claims readiness—puts you in a stronger position than choosing on price alone.