Business insurance · Australia · Head-to-head
BizCover (AU) vs NRMA Business
Two Australia business insurance options, compared side by side for Australia trades.
Which should you choose?
BizCover (AU) and NRMA Business are both Tier A, which every business insurance entry without a reputation warning receives, so the tier does not separate them. Weigh the pros, cons, pricing and Australia-specific notes below against your trade and region.
BizCover (AU)
Tier A · ListedOnline business insurance quotes from 13 insurers, covering over 800 trade occupations
BizCover is an online business insurance platform run by BizCover Pty Limited (AFSL 501769), founded in 2008, that lets small businesses compare and buy cover from a panel of 13 insurers including AIG, Chubb, QBE, Vero and Zurich. BizCover says it has insured over 300,000 Australian small businesses and covers over 800 trade occupations. It acts as the insurers' agent under binder agreements and gives general advice only, so it does not advise on your personal circumstances as a broker would.
Pros
- + Compare quotes from 13 insurers in one online form
- + Covers over 800 trade occupations, with $5M or $20M public liability limits
- + Cover in minutes, with policy documents emailed straight away
- + Pay monthly or annually
Cons
- − BizCover acts for the insurer, not for you, and gives general advice only
- − BizCover fee of $20 to $200 plus GST per policy, on top of the premium
- − Paying monthly adds $8 plus GST a month, and card fees apply
- − Commission is kept by BizCover even if the policy is cancelled
Australia note
For tradies BizCover offers public liability at $5M or $20M limits, personal accident and illness, portable equipment, professional indemnity and statutory liability, with policy documents emailed on purchase. It says business insurance for tradies costs $87.50 a month on average, and it adds its own fee of $20 to $200 plus GST per policy.
NRMA Business
Tier A · ListedBusiness and tradie insurance sold direct by NRMA Insurance, a brand of ASX-listed IAG
NRMA Insurance is a retail brand of Insurance Australia Group (IAG), and its policies are issued by Insurance Australia Limited trading as NRMA Insurance. Its business insurance range includes contractor and tradie insurance, public liability and professional indemnity, sold direct rather than through a broker. For tradies, NRMA lists public liability cover options of $5 million, $10 million, $15 million or $20 million, with optional cover for tools, materials and vehicles.
Pros
- + Tradie public liability options of $5 million, $10 million, $15 million or $20 million
- + Optional cover for work tools, materials and vehicles
- + Bought direct, including online, with no broker in between
- + Issued by Insurance Australia Limited, part of ASX-listed IAG
Cons
- − No published premiums; every policy needs a quote
- − Sells only its own policies, so there is no comparison with other insurers
- − Cover terms and exclusions sit in the Product Disclosure Statement, which needs a careful read before buying
Australia note
Policies are issued by Insurance Australia Limited ABN 11 000 016 722 AFSL 227681, trading as NRMA Insurance. The NRMA motoring club says it is separate and independent from the insurer and acts only as a referrer under an agreement with it.
More Australia options
See all Australia business insurance vendors and the rest of the Australia directory.