Get Insurance Before You Get Burned
You’ve got the perfect business idea. You’ve picked out a killer name. Maybe you’ve even designed a logo that makes you feel like a marketing genius. But have you thought about Small Business Insurance Tasmania? At RSM Tasmania General Insurance Brokers, we think about nothing else
If you haven’t thought about it, or you are putting it off for later, are you prepared for the sleepless nights, financial panic, and legal headaches that can come with not protecting your business from day one?
Look, we get it. Insurance isn’t as exciting as launching your website or landing your first sale. But it’s one of the smartest things you can do when starting out. Getting insured before disaster strikes is the difference between a thriving business and an expensive learning experience.
The Real Risks of Running a Business (a.k.a. Stuff You Don’t Want to Deal With)
Even if your business is just you, your laptop, and an half-full mug of coffee, risk is everywhere.
Here are a few nightmare scenarios that happen more often than you think:
- A customer slips and falls in your store—now they want compensation, and you need a lawyer.
- A cyber attack wipes out your client data—who knew hackers liked small businesses too?
- A fire destroys your stock—and now you have nothing to sell.
- Your employee throws their back out lifting a box—hello, workers’ compensation claim!
- Your delivery van is stolen—and you still have orders to fulfill.
Without insurance, all of these could hit your bank account like a wrecking ball.
With insurance? You breathe a sigh of relief and keep running your business.
But Do You Really Need Business Insurance?
Short answer: Yes.
Longer answer: Yes! Absolutely.
Some insurance is even legally required, depending on what you do. For example:
Public Liability Insurance: If your business interacts with customers in person (store, office, or even a market stall), you need this. It protects you from claims if someone gets injured or their property is damaged because of your business.
Professional Indemnity Insurance: Give advice or provide a service? If a client accuses you of making a costly mistake, this covers legal fees and compensation.
Workers’ Compensation Insurance: If you have employees, this is mandatory. It covers medical costs and lost wages if they get hurt on the job.
IMPORTANT!! If you need a really fast quote for Workers Comp Insurance, click here now!
Business Property Insurance: Fire, theft, storm damage—this protects your business assets, stock, and equipment.
Cyber Insurance: If you collect customer data, process payments online, or rely on technology, cyber insurance can help protect you from hacking, data breaches, and cyber extortion.
Skipping Insurance? Here’s What Could Happen
Do you know what’s fun? Growing a business.
Do you know what’s not fun? Going bankrupt because of an unexpected disaster.
No insurance means:
- Massive out-of-pocket costs for damages, lawsuits, or lost income.
- Lost customers and reputation damage (people love suing, but they hate businesses that disappear overnight).
- Your business could shut down before it even gets off the ground.
- How to Get Business Insurance Without Losing Your Mind
Don’t worry—you don’t have to become an insurance expert overnight. Here’s how to get covered the easy way:
1. Know Your Risks
What could go wrong in your business? Think about your daily operations, industry, and worst-case scenarios.
2. Talk to an Insurance Broker
A good small business insurance broker (like those at RSM Tasmania) can cut through the jargon and find policies that actually fit your business, rather than selling you stuff you don’t need.
3. Compare Policies
Cheapest isn’t always best. Read the fine print (or have your broker do it) to ensure you’re covered for what matters.
4. Get Insured Before You Need It
The worst time to realise you need insurance is when it’s too late. Don’t be that business owner.
Final Thought: Protect Now, Prosper Later
Starting a business is risky, but being uninsured is riskier. Make insurance one of the first things you tick off your startup to-do list, so you can focus on growing your business with confidence.
Need help figuring out what coverage you need? Chat with an expert today and make sure your business is protected.
Remember, this article is general in nature, and it doesn’t take into account your specific objectives, financial situation, or needs. For advice tailored to your circumstances, have a chat with us at RSM Tasmania Insurance Brokers Hobart.
Talk to Roger Hosie and stay ahead with RSM Tasmania’s insights.
Call Now! (03) 6244 7854, or email .
