No matter what field you operate your business it is important to protect both the business and your personal assets with a adequate business insurance policy.
CGU offers a range of personal, commercial and rural insurance products to Australian customers.
Who is CGU Insurance?
CGU was formed in 1998 through the merger of Commercial Union plc and General Accident plc. Each insurer had almost 160 years of experience in Australia.
How big is CGU?
CGU offers a range of personal, commercial and rural insurance products to Australian customers. With a staff of more than 3,500, the company’s insurance offerings are distributed through a network of brokers, agents and financial institutions. A quick look at the raw numbers gives you a good idea of the size of CGU’s operations. Every year it provides insurance cover for half a million properties, more than one million motor vehicles, more than 125,000 businesses and some 60,000 farms.
The company manages roughly 350,000 claims every year and pays out on average 98 per cent of the claims it receives. This adds up to $1.6 billion paid to CGU policyholders every year.
What is the benefit of choosing CGU business insurance?
Wide range of cover. CGU has a range of cover options specifically designed to suit a wide range of businesses. Whether you’re a farmer, an IT professional or a tradesman, CGU has policies tailored towards a variety of different cover requirements. Alternatively, you can also choose to select your own options and benefits to create a policy that suits the risks and needs of your business.
Quality claims service. Insurance claims with CGU can be lodged over the phone or in writing. The claims service is available 24/7 and CGU works to assess and pay all claims as quickly as possible.
Competitively priced. As well as being of high standard, CGU’s policies are also competitively priced when compared to other market offerings. This is a welcome relief for any business owner.
Friendly customer service. CGU prides itself on offering friendly, attentive and professional customer service. This serves to make every part of the insurance process, from applying for cover through to making a claim, as easy and stress-free as possible.
Customise your policy. You can choose to customise a policy to suit the needs of your business by selecting from 10 individual insurance covers.
What types of business insurance does CGU offer?
Small Business Insurance. CGU provides tailored insurance to a huge range of small businesses from domestic and medical services to commercial property owners and tradies. It can cover you for theft, property damage, liability and much more.
Public Liability Insurance. This protects you for claims that your negligence led to someone getting hurt or having their property damaged. It can cover for you legal costs, damage to property, injury to a third party, loss or damage of goods in your care and liability protection for others acting on your behalf.
Workers compensation. CGU also provides workers compensation to more than 100,000 Australian businesses. They offer tailored injury and claims management services, solutions to reduce the cause of injuries and a number of risk management products and services.
Trades insurance. Trades insurance is tailored to plumbers, electricians or other tradies and provides cover for tools, vehicles and public liability.
Professionals & consultants. Cover for tax agents, graphic designers, personal trainers, and more.
Retail & market stall. Cover for retail stores, market stall holders and more.
Professional Indemnity Insurance. This protects you for legal claims if your professional advice or service causes financial loss or injury to one or more of your clients. It can cover you for breach of duty, breach of privacy, intellectual property infringement, defamation, loss or damaged documents, reputation repair and claims investigation costs.
Farm insurance. This protects your small hobby farm or leisure farm. It can cover the building and contents, provide liability, farm vehicle, machinery, business interruption and more.
Hospitality. Cover for restaurant, cafe and catering business owners.
Domestic services & repairs. This is tailored to domestic cleaners, pet groomers and more and provides property, machinery and liability cover.
IT professionals. If you're a programmer or website designer, this can cover you for civil liberties, public relation costs and more.
Health & medical services. Business protection for businesses that provide health and medical services.
Property owners. This is a type of business insurance tailored to commercial property owners.
Car insurance. A wide range of policies to suit different needs and budgets.
Boat insurance. Take out cover for your boa and any related equipment.
Motorcycle insurance. Similar cover to car insurance but tailored to motorbikes.
Caravan insurance. Cover for your home away from home.
Home insurance. Combine your building and contents insurance under one policy.
Contents insurance. Cover for your belongings.
Building insurance. Cover for your home and other buildings on your property.
Landlords insurance. Protecting your investment against vandalism, damage and loss of rent.
Renters insurance. Cover for your belongings, including any furniture and white goods you own.
Residential strata insurance. Protecting the specific needs of strata title properties.
Travel insurance. Choose from international travel, domestic travel and multi-trip travel insurance.
Why go with CGU?
Experience
CGU Business Insurance offers a range of features and benefits that helps to set it apart from the cover offered by other insurers. CGU has been looking after the insurance needs of Australians for some 160 years, so it has plenty of experience working out how to give businesses the cover they require. Whether you’re a sole trader or the head of a large company, CGU has worked to provide cover suited to the risks you and your business face.
Customer service
As a company that prides itself on providing top-quality customer service, CGU knows the importance of communicating clearly and openly with its customers. Each one of the company’s insurance products is backed up by a nationwide presence, while a 24/7 claims service is available whenever you need it.
Brokers to help you get cover
CGU understands that business insurance can be a thoroughly complex topic to wrap your head around, with a range of different covers and a host of technical jargon many business owners do not fully understand. This is why the company works with an extensive network of brokers, partners and suppliers to make sure its customers and even potential customers get the right advice.
Wide product range
Finally, CGU’s suite of insurance products offers something to suit an enormous variety of businesses. Whether you want to choose a policy designed for your profession or simply tailor cover to suit your needs, CGU has got you covered.
Making a claim with CGU
How do I make a claim? Contact CGU directly on 13 24 80 (13 CGU 0). Claims can be lodged 24 hours a day, seven days a week.
What information you will need to provide? This will depend on the nature of your claim and whether any supporting evidence is required. However, generally speaking you will also require your policy number and details, the name of the insured, a detailed description of the incident and the details of any other parties involved.
How long does it take to process a claim? This will depend on the nature and complexity of your claim. However, CGU always works to ensure claims are investigated and settled as quickly as possible.
Can I organise any repairs or replacements before I make a claim? CGU recommends that you make a claim before you make any of these sort of arrangements. CGU also offers a list of managed repairers to help make the process easier.
What if I’m not happy with the progress of my claim? The first step is to make your complaint known to the consultant managing your claim. If they cannot resolve the matter to your liking, you can then seek a review by CGU and eventually an external review. CGU offers a host of business insurance policies designed to protect a wide range of businesses against an equally large amount of risks. With cover for everyone from architects to IT professionals and tradesmen, CGU has a range of competitive policy options to choose from.
Talk to broker about CGU Business Insurance
Why do I need to speak to a broker to get a quote? finder.com.au works with a qualified broker to get quotes for CGU Business Insurance. A broker can take you through the application process and help you with any back and forth with an insurer if you need to make a claim.
Frequently asked questions
CGU Business Insurance is underwritten by CGU Insurance Limited.
If you have a complaint about your policy or a claim, contact CGU and you will receive a response within 15 days. If the matter is not resolved to your satisfaction, you will be referred to the relevant dispute handling department or area who will review your dispute and respond to you within 15 days. If you are still unhappy with the insurer’s response you can seek an internal review, for example through the dispute resolution scheme run by the Australian Financial Complaints Authority (AFCA).
You will need to notify CGU of your claim as soon as possible, and then provide written confirmation within 30 days.
You can phone CGU to lodge a claim 24 hours a day, seven days a week.
Yes. The CGU Business Pack offers a comprehensive range of coverage and allows you to choose the covers your business needs.
There's some key policy wordings to be aware of when it comes to CGU business insurance.
Term
What does it mean?
Business
The term business includes:
The ownership and occupation of the business premises
The provision of sponsorship, donations or attendance at any charitable event
Canteen, child care, sports and social services for your employees
First aid, fire and ambulance services provided for the business’ internal purposes
Private work undertaken by employees for a director, partner, officer or executive
Business hours
This refers to the usual trading hours of your business or while you or employees authorised by you are on the business premises to perform business activities.
Contents
The definition of contents includes the items belonging to you or for which you are legally responsible, including:
Furniture and furnishings
Carpet and internal blinds
Machinery, plant, tools and utensils of trade
Advertising material
Computers and related equipment
Stationery
Paintings, works of art, Persian rugs
Plants, shrubs and trees whilst in the building
Property of welfare, sport or social clubs
If you are a tenant of leased or rented premises, cover is available for the landlord’s fixtures and fittings
Damage
Damage refers to physical loss, damage or destruction, but not loss caused by theft.
Specified items
Specified items refers to property specifically described in the policy schedule.
Stock
Stock refers to items belonging to you or for which you are legally responsible, including:
Merchandise or materials of trade manufactured, unmanufactured or being manufactured
Alex Reid is Finder’s business insurance cadet. He has a Master of Marketing from the University of Technology Sydney, with a background in business and sales. When not writing about business insurance for Finder he's a keen scuba diver, recently completed his 200th hour underwater and his PADI Divemaster certification. Before working at Finder he lived in Hangzhou China, where he studied Mandarin and Chinese culture.
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