Business insurance · New Zealand
BizCover (NZ)
Online business insurance for NZ tradies, with cover from AIG, Ando, DUAL and BHSI
Market position
BizCover is an online business insurance platform, trading in New Zealand as BizCover Limited, that sells cover from four insurers (AIG, Ando, DUAL New Zealand and Berkshire Hathaway Specialty Insurance) and acts as the insurer's agent, not the customer's. It was founded in Sydney in 2008, is listed as one of AUB Group's business areas, and its NZ homepage says more than 18,000 NZ small businesses use it. It says it covers 900+ occupations, including builders, plumbers, electricians, painters and other trades.
New Zealand-specific note
For tradies BizCover sells public liability at six limits from $1M to $20M, tool and portable equipment cover, professional indemnity and other covers online, with policy documents emailed on purchase. On its tradie page it gives expected averages of $32 a month for public liability and $80 a month for tool cover (July 2023 to June 2024 customer average, a guide only). It adds a fee of $20 to $150 + GST per policy and keeps its commission and fees if you cancel.
Pros
- + Quote and buy online, with policy documents emailed straight away
- + Public liability limits from $1M to $20M
- + Publishes average monthly costs as a guide
- + Pay monthly or annually
- + Full refund if you call within 14 days of an unwanted auto-renewal
Cons
- − Acts as the insurer's agent, not yours
- − BizCover fee of $20-$150 + GST per policy on top of the premium
- − Paying monthly adds $8 + GST a month
- − Commission and fees kept if you cancel
- − Policies renew automatically unless you contact BizCover
Typical New Zealand pricing
Premium quoted per business; BizCover's tradie page gives expected averages of $32/month for public liability and $80/month for tool cover (July 2023-June 2024 customer average, guide only). Plus a BizCover fee of $20-$150 + GST per policy, and $8 + GST/month if paying by instalments
Why this matters for New Zealand trades
Only EWRB-registered and licensed workers can carry out or supervise prescribed electrical work, with the practising licence renewed every 2 years; the PGDB registers and licenses plumbers, gasfitters and drainlayers and prosecutes unauthorised work; and Restricted Building Work on homes must be done or supervised by a Licensed Building Practitioner. WorkSafe enforces the Health and Safety at Work Act 2015 and says amendments take effect on 1 April 2027. The payroll tools listed here file payday information with Inland Revenue, and some act as PAYE intermediaries that pay PAYE to Inland Revenue for you. Master Builders and Master Plumbers membership is voluntary and does not replace licensing.
New Zealand trades vendor selection is shaped by registration and licensing (the EWRB for electrical workers, the PGDB for plumbers, gasfitters and drainlayers, and the LBP scheme for Restricted Building Work on homes), payday filing with Inland Revenue, KiwiSaver deductions, Holidays Act leave calculations, 15% GST, and health and safety duties under the Health and Safety at Work Act 2015.
Frequently asked
Is BizCover (NZ) a good fit for New Zealand trades?
BizCover is an online business insurance platform, trading in New Zealand as BizCover Limited, that sells cover from four insurers (AIG, Ando, DUAL New Zealand and Berkshire Hathaway Specialty Insurance) and acts as the insurer's agent, not the customer's. It was founded in Sydney in 2008, is listed as one of AUB Group's business areas, and its NZ homepage says more than 18,000 NZ small businesses use it. It says it covers 900+ occupations, including builders, plumbers, electricians, painters and other trades. For tradies BizCover sells public liability at six limits from $1M to $20M, tool and portable equipment cover, professional indemnity and other covers online, with policy documents emailed on purchase. On its tradie page it gives expected averages of $32 a month for public liability and $80 a month for tool cover (July 2023 to June 2024 customer average, a guide only). It adds a fee of $20 to $150 + GST per policy and keeps its commission and fees if you cancel.
What does BizCover (NZ) cost in New Zealand?
Premium quoted per business; BizCover's tradie page gives expected averages of $32/month for public liability and $80/month for tool cover (July 2023-June 2024 customer average, guide only). Plus a BizCover fee of $20-$150 + GST per policy, and $8 + GST/month if paying by instalments. Pricing and availability can change by region; confirm current New Zealand pricing on the vendor's site before committing.