What is a ‘Flood’?

In June 2012, the Insurance Council of Australia and Federal Government agreed to adopt the below definition. The definition of flood is: The covering of normally dry land by water that has escaped or been released from the normal confines of: Any lake, or any river, creek or other natural watercourse, whether or not altered or modified; or Any reservoir, canal, or dam.

Business Insurance Packages | Business Insurance

Q: Can I pay my premiums by the month?

Yes. First Peoples Insurance can arrange monthly premium funding for many insurance policies through approved premium funding providers. For commercial insurance policies, the interest charged on a premium funding loan may be tax deductible, depending on your circumstances. Tax treatment differs for personal insurance products and may not be deductible. You should seek advice from your accountant or tax adviser regarding the tax implications of any premium funding arrangement.

Q: Is Flood cover automatic?

No – most insurers do NOT offer Flood as an automatic cover. If you want this cover under your policy, please tell your Adviser.

Q: How do I make a claim?

As your Adviser, you will always contact First Peoples Insurance in the first instance and we will guide you through the claims process as this can vary from insurer to insurer.

Designed for companies or corporations requiring coverage to protect their business, contents or general property against loss, damage, theft, or machinery breakdown.

Why is this cover important?

A Business Insurance policy helps to protect those aspects of your business to which you value most and could not carry on your own. Business Insurance is not a “one size fits all” cover, we want to hear about your business, big or small, to determine what level of cover is required, and tailor a policy to suit your exact needs.

Policy cover can include

As a business owner there is nothing more important than having comprehensive business insurance as the risks increase. The policies available through First Peoples Insurance can cover:

Fire / Flood or Material Damage

Covers your Building and Contents/Equipment against losses due to fire, storm and tempest, earthquake, and malicious acts. Cover is automatically extended to include Accidental Damage or Loss.

Building, Contents or General Property

Damage to property (Building, Contents, and Stock etc.) caused by fire and nominated perils.

Burglary / Theft

Covers your property for loss after a break and enter.

Business Interruption

In the event that an insurable loss causes you to cease trading, this cover can replace any lost income during a period of time. Other covers such as accountant’s fees can also be insured under this section.

Internal & External Glass

This section covers breakage of fixed glass for its full replacement cost. Cover for Advertising signs is also included up to a designated limit.

Money

Covers loss or damage to cash, cheques, and negotiable instruments.

Machinery Breakdown

Covers repair or replacement cost after a breakdown to your plant and equipment.

Electronic Equipment Breakdown

Covers repair or replacement cost after a breakdown to your electronic equipment.

Public & Products Liability

Covers your legal liability for any bodily injury and property damage arising out of the course of your business activities.

Temporary Removal of Contents

Covers your Building and Contents/Equipment against losses due to fire, storm and tempest, earthquake, and malicious acts. Cover is automatically extended to include Accidental Damage or Loss.

Building, Contents or General Property

Damage to property (Building, Contents, and Stock etc.) caused by fire and nominated perils.

Business Vehicles

Cover can be extended to include company owned vehicles if required.

Broader protection & additional cover

Some important and beneficial extensions of cover are as follows:

Temporary Removal of Contents

Automatic cover for property while it is away from your standard place of business. Cover is included for 20% of your Contents sum insured for up to 90 days.

Temporary Protection & Watchmen

Covers costs reasonably incurred by you to protect the property including the cost of temporary repairs, the hiring of watchmen or the removal of insured property to a place of safe storage pending the repair or reinstatement of your premises.

Business Interruption Extensions

Cover can be extended to include company owned vehicles if required.

First Peoples Insurance is a 100% Aboriginal-owned, full-service insurance broker, not a product seller. We partner with you to understand your risks and design tailored insurance brokering solutions that evolve with your needs.

We have access to a large range of quality insurers and policies to ensure you obtain the best possible coverage.

Our claims team has years of experience and expertise in successfully managing complex and difficult claims.

Frequently Asked Questions for Business Insurance

In June 2012, the Insurance Council of Australia and Federal Government agreed to adopt the below definition.

The definition of flood is:

The covering of normally dry land by water that has escaped or been released from the normal confines of:
Any lake, or any river, creek or other natural watercourse, whether or not altered or modified; or
Any reservoir, canal, or dam.

Yes. First Peoples Insurance can arrange monthly premium funding for many insurance policies through approved premium funding providers.

For commercial insurance policies, the interest charged on a premium funding loan may be tax deductible, depending on your circumstances. Tax treatment differs for personal insurance products and may not be deductible.

You should seek advice from your accountant or tax adviser regarding the tax implications of any premium funding arrangement.

No– most insurers do NOT offer Flood as an automatic cover. If you want this cover under your policy, please tell your Adviser.

Also known as the “Average” or Co-Insurance” Clause, Underinsurance is the result of nominating a value for an asset which is too low to actually replace it in the event it is lost or damaged.

Certain cover sections (Fire, Business Interruption – Income, and Electronic Equipment) contain the under-insurance clause. It is important to review the level of cover you have declared, as if the amount you have declared is too low, the insurer can apply a formula which limits their settlement to you for that loss. This can occur if you have declared less than 80% of the actual value of the risk/asset.

Many businesses unknowingly under-insure as they apply heavy depreciation to their assets or simply forget to include certain assets into their calculations.

As your Adviser, you will always contact First Peoples Insurance in the first instance and we will guide you through the claims process as this can vary from insurer to insurer.