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Frequently asked questions about small business insurance in NZ

Understanding small business insurance is important for any business operating in New Zealand. Here are the answers to frequently asked questions about this cover.

What type of small business insurance do I need in New Zealand?

These are the common covers that small business owners in New Zealand have: 

  • General Liability Insurance: In layman’s terms, this is about covering costs if someone blames your business for injury or damage. Even a minor incident, like a customer slipping in your store, can lead to significant expenses without insurance.

  • Property Insurance: Whether you’re operating out of a home office or commercial space, property insurance safeguards your physical assets. This includes everything from computers and furniture to inventory and signage.

  • Business Interruption Insurance: Natural disasters, like the earthquakes we’re all too familiar with, can halt business operations. This insurance aids in covering loss of income during such disruptive periods.

  • Professional Liability Insurance: Particularly important for consultancies or service providers, this covers you against claims of negligence or malpractice.

  • Cyber Liability Insurance: With businesses increasingly operating online, cyber threats are real. This insurance protects against potential digital breaches.

View more business insurance covers

What insurance does a small business need in New Zealand?

Insurance isn’t a one-size-fits-all solution. Each business, depending on its nature, scale, and operational nuances, requires a tailor-made insurance package.

  • Business Model: The insurance matrix for a bustling Auckland cafe differs considerably from a serene Queenstown bed-and-breakfast or a tech startup in Wellington.

  • Location: Proximity to risk zones, like coastal areas vulnerable to rising sea levels or earthquake-prone regions, impacts insurance strategy.

  • Employee Count: A solo entrepreneur’s needs are vastly different from a business employing 50 people. The larger your workforce, the more comprehensive your insurance should be.

  • Assets: If your business relies heavily on specialized machinery or tools, it demands a different coverage focus.

  • Potential Risks: An in-depth risk assessment, from potential workplace hazards to cybersecurity vulnerabilities, determines the insurance blueprint.

To get insurance customized to your needs, talk to a small business insurance broker

How much does small business insurance cost in New Zealand?

The average cost of small business insurance in New Zealand is $100 to $200 a month. Multiple variables play a role in determining insurance premiums.

  • Type and Scale of Business: Naturally, insuring a vast manufacturing unit differs in cost from insuring a niche boutique.

  • Location: Businesses located in downtown Auckland, with higher property values and potential risks, might see steeper premiums compared to a rural setup.

  • Employee Strength: More hands on deck typically means higher potential liabilities and thus can impact insurance costs.

  • Coverage Scope: The broader and deeper your coverage, the more expensive it becomes, much like opting for a luxury vehicle over a standard model.


How to save money on small business insurance in New Zealand?

Strategic planning and informed decisions can significantly reduce insurance costs without compromising on coverage.


Just as buying in bulk at a store can save money, combining multiple insurance policies with a single provider often garners discounts.

Risk Management

Proactive measures, like employee safety training or installing security systems, can reduce risk and consequently lower premiums.

Regular Reviews

Periodically revisiting your insurance strategy ensures alignment with your current needs, preventing overpayment or under-coverage.

Leveraging Gerrards

With our finger on the industry's pulse, we can often unearth exclusive discounts and offers.

Where to get business insurance for a small business in New Zealand?

Selecting the apt insurance provider is instrumental in ensuring your business remains safeguarded against unforeseen challenges. While several options are available, each carries its unique attributes:

  • Gerrards: Positioned at the forefront of insurance brokering in New Zealand, Gerrards stands as a beacon for small businesses seeking comprehensive coverage. Here’s why:

    • Specialty for Small Business: We understand the nuances and intricacies of small businesses in New Zealand. Our tailored strategies are meticulously crafted to fit the unique challenges and needs of smaller operations.
    • Rapid 24-Hour Turnarounds: Time is a precious commodity, especially for burgeoning businesses. Our commitment ensures that queries, quotations, and claims processing are handled within a swift 24-hour window.
    • Access to 30 Different Underwriters: Every business is distinct, and a single solution doesn’t fit all. Our vast network, comprising 30 different underwriters, ensures that we find a plan that resonates perfectly with your specific needs.
    • Dedicated Claims Team: In the unfortunate event of a claim, our dedicated team ensures seamless processing, lending support when you need it most.
  • Traditional Insurance Companies: Time-tested giants offering a broad array of insurance solutions, fortified by their long-standing presence in the industry.

  • Online Platforms: These are the digital-age champions. Agile and tech-savvy, they sometimes offer competitive rates due to reduced physical overheads.

  • Industry Associations: For businesses operating in niche sectors, industry-specific groups can be invaluable, providing coverage intricately designed for sector-specific challenges.

By meticulously weighing the pros and cons of each option, businesses can pinpoint the insurance provider that aligns seamlessly with their operational framework and future aspirations.

Do you have further questions about small business insurance?

We hope this guide has shed light on the intricacies of small business insurance in New Zealand. However, we understand that every business is unique, and you might still have questions specific to your situation. At Gerrards Insurance Brokers, we’re here to help. If you have any further queries about small business insurance, or any other insurance need, please don’t hesitate to contact us. Our team of experienced professionals is always ready to provide personalised advice and solutions tailored to your business. 

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