Do I Insure My Company or Myself?

When you’re insuring your business, whether its public liability insurance, professional indemnity insurance or a business pack insurance policies, should you insure it in the business name or your own name? Especially when that business is the trustee for your family trust.

According to Steve Sloan, a broker with Insure 247 “the general rule would be to insure the entity that invoices the client, in most cases the insurer will be more interested in your occupation and the risk than the entity, i.e. the premium doesn’t change for a sole trader compared to a Pty Ltd company.”

“In the case of professional indemnity insurance, the cover should include the names of directors, employees or contractors that offer the advice.”

“In the event that the company owns subsidiaries the subsidiary should also maintain it’s own cover, however in some cases, insurers may offer cover for both.”

If you are unsure please discuss it with of our team on 1300 046 787

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