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  • Writer's pictureAmanda Bird

What Mumpreneurs Should Know about Business Insurance

The skill of combining parenthood and having your own business is everything but simple. There's always something vying for your attention: managing client requests and orders, packing the kids' lunches, maintaining the books, establishing marketing campaigns, mailing parcels, or squeezing in 5 minutes for a lunch break!

Whether you manage an internet empire, offer excellent marketing advice, or have the best-smelling candle stall at the local markets, business insurance is something that all enterprises should consider. Without further ado, let's dive into the popular types of insurance policies available to business owners and how you can get started. Read on!

The Types of Business Insurance

There are many types of insurance options out there that business owners can get. Insurance helps protect your company from risks that can arise during normal operations. Here are common policies most entrepreneurs get for their business.

1. Commercial Property Insurance

Commercial property insurance helps protect your owned or rented building and equipment that you use to run your business.

Be aware that this insurance doesn't cover damage from earthquakes or floods. You'll likely have to get a separate policy, like commercial flood insurance, to help protect your business from these kinds of claims.

2. General Liability Insurance

General liability insurance helps protect your business from the legal costs of being sued if someone is injured on your property, gets sick from something they ate at your food truck, or trips and falls on your sidewalk.

You can choose to have this coverage with or without errors and omissions coverage. With errors and omissions coverage, you're covered if someone claims your business's work was faulty and contributed to the harm.

3. Business Income Insurance

Business income insurance helps you pay for the continued operation of your business if you're temporarily unable to work because of an illness or injury, or if your business is destroyed by a fire, storm, or some other disaster.

4. Professional Indemnity Insurance

Professional indemnity insurance helps reimburse you for the cost of legal advice, if you're being sued for something that happened when you provided your best professional services.

5. Contents and Stock Insurance

Contents and stock insurance helps protect the physical property you have in your office, store, or warehouse, like furniture, computer equipment, and inventory. Contents and stock insurance also covers additional living expenses if you have to live elsewhere while your business is being rebuilt after a disaster.

6. Cyber Liability Insurance

Cyber liability insurance helps protect your company from the financial costs if you're struck by a cyber attack, like a data breach or cyber theft. Cyber liability insurance can cover the cost of hiring a team of cybersecurity experts to help your business recover from the attack, damage to your reputation, and losses from customers or clients who leave.

How to Get Started

It's not too late to get started. Here's the best part - asking for details on if your business is covered for the risks you're facing is totally doable.

To get the ball rolling, we recommend scheduling a call with a local independent insurance agent who can help you compare insurance quotes from several different carriers. They can help you find the right insurance for your business, and it's usually the first place we go for advice.

Here are a few tips to help you get started:

  • Write down a list of all the risks or issues your business might face.

  • Next, write down any assets you have that might be at risk of damage or loss.

Take the time to understand the risks and assets, which will help you find the right insurance for your company.


Finding the right insurance for your business can feel overwhelming, but starting with a list of all your risks and assets can help you get started.

Once you've taken the time to understand the risks, you can begin your search for the best insurance that fits with your business needs.

Find the best insurance policies for your small business assets with the help of New Wave Insurance! Our team of Gold Coast insurance specialists does the heavy lifting for you when it comes to finding the right insurance, negotiating on your behalf to find the best value policies. Book a free 15-minute insurance consultation with us now!

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