What is SME Business Insurance? 

Having adequate business insurance cover is one of the most important considerations when in business to ensure protection should loss or damage occur. Business insurance policies allow you to select relevant sections of cover based on your individual needs and group them together as a package.  

Businesses in New Zealand, particularly SMEs, can benefit from business insurance solutions that will cushion them from financially disastrous events which cause damage to property, loss of profits and third-party liabilities. 

Every SME needs business insurance that considers their overall risk profile and addresses their needs. Depending on the business, industry, and the inherent risks associated with operating within that industry, an organisation can obtain an SME business insurance package that is tailored to meet their individual insurance needs.  

Business insurance can include but is not limited to: 

• Material Damage - provides protection against property damage to physical assets owned by the business, such as buildings, contents, stock and customers goods, in the event of an insured incident.  
• Business Interruption - protects you from financial loss caused by an insured event or incident that halts business operations. Business interruption insurance helps return your business to the same financial position it was in prior to the event or incident. 
• Burglary/Theft - covers theft of goods and property within the business 
• Plant & Equipment - insures tools, equipment, and machinery that are critical to business operation. 
• Motor – provides cover for physical loss, damage or theft of vehicles used for business.
• Liability – provides protection against legal liability for property damage and personal injury to a third party. 
• Property anywhere in New Zealand – covers portable assets and property that you take away from your premises

At Insurance Advisernet, we offer a broad range of insurance solutions at a price you can afford. Our authorised insurance representatives will work with you to understand your business and your specific insurance needs. We can provide you with a recommendation based on a thorough analysis of your business risks and liability exposures. 

For more than 15 years, Insurance Advisernet has been at the helm of the insurance brokerage industry in New Zealand, providing coverage to business customers.  

Protect your business today! Schedule an appointment with our expert brokers, and we’ll be happy to customise an SME business insurance policy that’s right for you and your business.

Frequently Asked Questions

What is SME Insurance? 

Business Insurance protects small to medium-sized enterprises from major financial losses as a result of property damage, loss of profits and third-party liability claims. Business insurance can be packaged to include a range of policies like motor, property, plant & equipment, cybersecurity, business interruption, and professional indemnity, among many others. 

How can insurance help small businesses in New Zealand? 

Having adequate business insurance is one of the most important considerations when in business to ensure protection should loss or damage occur. Business insurance policies allow you to select relevant sections of cover based on individual business needs and group them together as a package tailored to meet the requirements of the business.  

What does SME stand for? 

Small and medium-sized enterprises (SMEs) are independent businesses that maintain revenue and business assets and employ a certain number of employees below a threshold. The threshold for designating an SME differs across countries and industries. 

How can insurance help small entrepreneurs or SMEs, or how it relates to risk management? 

Buying insurance is a wise risk control strategy for SMEs. Having adequate business insurance is one of the most important considerations when in business to ensure protection should loss or damage occur.  Insurance provides cover for business assets, profits and liabilities, reducing financial uncertainty should the business suffer loss or damage. 

Why is insurance important for business owners? 

Having adequate business insurance cover is one of the most important considerations when in business to ensure protection should loss or damage occur. Insurance provides cover for business assets, profits and liabilities, reducing financial uncertainty should the business suffer loss or damage. 
Insurance that provides appropriate cover for your business needs is a critical component of business risk management strategy. Unforeseen events and accidents happen, that’s why having appropriate insurance cover in place can help business owners deal with and minimise the financial impact of such events.