CleanSlate and BizCover team up to help small businesses streamline their insurances

Introduction:

If you're a small business owner, you know that protecting your company is crucial to its success. Insurance is one of the most important investments you can make to safeguard your business from risks and liabilities. However, finding the right coverage can be a complex and time-consuming process.

That's where CleanSlate and BizCover come in. As a trusted accounting partner and leading insurance provider for small businesses respectively, we've teamed up with BizCover to offer a streamlined and hassle-free insurance experience.

With our referral arrangement, small business owners can easily access the insurance coverage they need to protect their businesses while receiving the exceptional outsourcing bookkeeping service they deserve.

In this article, we'll explore how CleanSlate and BizCover are working together to provide comprehensive insurance solutions to small businesses. From customizable policies to real-time price comparisons, we'll show you how our partnership can help you get the right insurance coverage for your business.

So, whether you're a new business owner or an established entrepreneur, this blog is for you. Read on to learn more about our referral partnership and how it can help protect your business.

Understanding BizCover: What it is and what it offers

BizCover is an Australian online brokerage working under major professional risks insurance broker Mega Capital, which focuses on providing insurance coverage to small businesses.

Founded by Michael Gottlieb in 2008, BizCover runs an online service that allows small business owners to compare and buy insurance policies from up to eight top insurance companies in Australia with a simplified process without any paperwork involved.

The company offers insurance to more than 6,000 professionals, like butchers, doctors, real estate agents, and dressmakers. So far, it has provided public liability insurance, professional indemnity insurance, and business insurance to cover 55,000 small businesses across Australia.

Why is it beneficial for small businesses to have appropriate insurance coverage?

Small businesses need insurance for several reasons, as it offers security against potential events that may harm or financially ruin the business or sole trader.

Here, we have listed a few of the benefits that insurance can provide to small businesses:

• Asset protection

  Businesses face risks when it comes to their possessions, such as company cars, buildings, equipment, and the products they sell. Insurance provides cover for these assets against theft or damage, enabling business owners to replace them in case of an unfortunate incident.

• Increased credibility

  Businesses that have appropriate insurance coverage are seen as more credible by potential customers and investors. This also helps businesses build a better reputation within their industry.

• Employee protection

  Employers are legally responsible for their employee’s well-being while they’re at work. Insurance helps protect small businesses from legal liability if an employee is injured or killed in a work-related accident.

• Facilitate financing

  Businesses may find it difficult to access loans or other forms of financial assistance if they don’t have proper insurance coverage. Having the right insurance policy can help them secure financing from lenders, as it will help them demonstrate their level of preparedness against alleged risks.

• Protection against lawsuit

  Every business, regardless of size, is exposed to legal risk. Insurance helps protect against the financial risks associated with lawsuits brought by customers and other third parties. It also covers legal costs for defense and counterclaims if a dispute escalates into a lawsuit.

What are the different types of insurances that BizCover can help small businesses with?

The different types of insurance that BizCover can help businesses with include the following:

• Public liability insurance

  Public liability insurance is a popular form of business insurance that many small businesses opt for. It offers protection to business owners and their enterprises if a customer, supplier, or member of the public is injured or incurs property damage due to the negligent business activities of the owner or employees.

• Professional indemnity insurance

  Professional indemnity insurance is important for businesses that offer specialized services or professional advice. It is specifically designed to safeguard professionals against claims of negligence or breach of duty made by clients who have received professional services or advice from these businesses.

• Business insurance

  Business insurance is designed to help small firm owners safeguard their business premises and contents from loss, damage, or theft. It also offers protection against financial losses that may arise from an insured interruption to business operations. Furthermore, this insurance also covers the cost to repair or replace specified machinery following a breakdown.

• Management liability insurance

  Management liability insurance protects directors and officers from many exposures relating to the management of a company. Examples of the types of risks management liability insurance can assist with are OH&S dramas, unfair dismissal, sexual harassment, statutory breach of duty, defamation, and statutory fines & penalties.

• Cyber liability insurance

  Cyber liability insurance is designed to help small businesses in safeguarding themselves against claims and maintaining their profitability if they encounter a cyber breach or attack. This insurance also covers the expenses involved in defending a cyber claim.

  Furthermore, this insurance also provides assistance in accidental loss or disclosure of customer personal data, cybercrime, cyber extortion/ransomware, and business disruptions resulting from cyber events.

• Tax audit insurance

  A tax audit policy protects a business in the event that it is selected for auditing by the Australian Tax Office. This policy covers the costs of professional fees, such as those of accountants, that are incurred during the audit process.

  Audits can be a complicated and time-consuming process, and may result in significant financial losses for the business. By having this policy in place, the business can be better prepared to handle the costs and potential consequences of an audit.

• Personal accident & illness insurance

  Personal Accident & Illness insurance can provide coverage for the loss of income that an owner may experience if they are unable to work due to injury or illness (even if it occurs outside of their employment).

  Additionally, this type of insurance also offers an option to businesses to include coverage for accidental death or permanent disablement.

What are the types of insurance that BizCover can't help small businesses with?

The types of insurance package that BizCover does not offer are motor vehicles, workers' compensation, or any personal products i.e. home insurance, health insurance, or life insurance.

What is the role of a business insurance agent?

A business insurance agent is a professional who is dedicated to helping small businesses identify the best and most cost-effective insurance policies for their business. They play a crucial role in safeguarding the financial stability and operational continuity of an organization.

As a professional intermediary, they help clients navigate the complexities of various insurance policies and risk management strategies tailored to the unique needs and objectives of their businesses.

How can small business clients of CleanSlate benefit from partnering with Bizcover?

Small business owners face numerous challenges, but finding the right insurance agent doesn't have to be one of them with the help of CleanSlate and Bizcover partnership.

Here are a few of the benefits that small businesses clients of CleanSlate can take advantage of:

• Fast online quotes

  With BizCover, you can get quotes from some of Australia's leading insurers in just a few clicks. No more waiting on hold or filling out endless paperwork.

• Easy documentation

  All of your insurance documents will be delivered straight to your inbox, so you can keep track of everything in one place.

• Customized coverage

  BizCover allows you to compare and save on insurance plans that are ideally suited to your business and industry. That way, you can be confident that you have the right coverage for your needs.

• Hassle-free renewals

  When it's time to renew your insurance, BizCover will help you review your coverage and find the best rates available. This way, you can avoid the headaches and stress that come with dealing with insurance renewals on your own.

What process needs to be followed by small businesses?

The process of obtaining a small business insurance loan from BizCover is straightforward and uncomplicated. To get started, simply click on the link provided below. As you click on the link, you will be asked to enter a few details like your personal details, your business details, and a few other details.

After you have entered the details correctly, you will be asked to select the type of cover that is suitable for your business needs. You can then easily compare quotes from different insurers and choose one that best suits your budget. Once the quote is accepted, all the documents related to the policy will be sent to you electronically. Once the policy is issued, it will be valid and you can start using it right away.

We hope that you can take advantage of the benefits of our partnership with BizCover and secure comprehensive protection for your business.

Conclusion

Protecting your small business from potential risks is imperative, and obtaining the proper insurance coverage is a vital component of this process. Small business insurance offers you the peacefulness of knowing that your business is protected from accidents, natural disasters, and lawsuits. However, analyzing the various policies at your disposal might appear daunting.

At CleanSlate, we are not only the accounting service providers, we actually believe in providing a holistic solution to meet the different needs of our business clients. That's why we are here to help you protect your business and make sure it has the perfect insurance coverage, regardless of its size. With our experience and expertise in insurance, we can provide you with comprehensive advice on selecting the right policies for your business.

For any queries or questions regarding small business insurance, feel free to schedule a call with us today. Our business insurance professionals are always ready to help you.