How Much Does Business Insurance Cost in NSW?
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How Much Does Business Insurance Cost in NSW?

  • pablo7725
  • 1 day ago
  • 2 min read
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It’s one of the first questions every business owner asks: “How much will insurance cost me?”


If you’re running or starting a business in New South Wales, the answer depends on your industry, size, and the types of risks you want to cover.


Let’s explore the typical insurance costs for NSW businesses, what affects your premium, and how you can keep costs manageable without skimping on protection.



Typical Monthly Premiums for NSW Small Businesses

Insurance Type

Monthly Premium Range

Public Liability Insurance

$30 – $90

Professional Indemnity

$50 – $150

Business Pack (Property)

$40 – $120

Cyber Liability

$40 – $100

Workers Compensation

Variable (mandatory if employing staff)

Note: Prices can vary based on business size, turnover, location, and industry.



Factors That Influence Cost:


1. Industry Type

A construction business will likely pay more than a freelance writer, due to increased physical risk.


2. Business Size & Turnover

Higher revenue often means greater liability, which can lead to higher premiums.


3. Claims History

A clean record can reduce your premiums over time.


4. Location

High-traffic or high-crime areas can affect the cost of your business pack or contents insurance.



Cost-Saving Tips That Don’t Reduce Your Cover


  • Bundle policies to get multi-policy discounts

  • Increase your excess if you can absorb a larger out-of-pocket in the event of a claim

  • Pay annually instead of monthly to avoid finance fees

  • Work with a broker who can negotiate competitive rates across insurers


When Cheap Isn’t Good


It’s tempting to choose the cheapest policy — but make sure you:


  • Check what’s excluded

  • Understand the limits of your cover

  • Have enough protection for worst-case scenarios


A broker can help ensure you're not buying a policy that looks good on paper but leaves you exposed.


Conclusion: Insurance is an Investment, Not Just an Expense


The right insurance gives you confidence to take risks and grow your business — knowing you're protected if things go wrong.


Looking for tailored insurance advice? FergusonBrown can help you get the cover you need without paying for what you don’t.

 
 
 
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