Business insurance · New Zealand · Head-to-head

BizCover (NZ) vs Vero Insurance

Two New Zealand business insurance options, compared side by side for New Zealand trades.

Which should you choose?

BizCover (NZ) and Vero Insurance 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 New Zealand-specific notes below against your trade and region.

BizCover (NZ)

Tier A · Listed

Online business insurance for NZ tradies, with cover from AIG, Ando, DUAL and BHSI

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.

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

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

New Zealand 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.

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

Full review → Visit →

Vero Insurance

Tier A · Listed

Suncorp-owned NZ insurer with a Tradies Insurance policy sold through brokers and advisers

Vero Insurance New Zealand is part of Suncorp New Zealand, which belongs to Australia's Suncorp Group, and sells through insurance brokers, advisers and partners rather than directly. Its Tradies Insurance policy can combine cover for vehicles, tools, stock and equipment, mobile devices, premises, public and product liability and business interruption.

Pros

+ Tradies Insurance bundles vehicles, tools, liability and business interruption in one policy
+ Optional licensed building practitioner and defective workmanship cover
+ Broker or adviser helps set cover for your trade

Cons

− No direct online quote; you need a broker or adviser
− No public prices
− Excesses, limits and exclusions vary by policy and are set in the quote

New Zealand note

Bought through a New Zealand broker or adviser (Vero has a broker locator on its site), not quoted directly online. Optional extras include licensed building practitioner cover and defective workmanship cover.

Typical New Zealand pricing: Quote-based through brokers and advisers; no public prices

Full review → Visit →

More New Zealand options

See all New Zealand business insurance vendors and the rest of the New Zealand directory.

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