NRMA Business Insurance

The Guide to NRMA Business Insurance

NRMA has been a trusted name in Australia since its inception in 1923 as a motoring association. Not long after that the company parlayed its growing membership and added NRMA insurance to its product line. The company, which was operating as a sub-agency of Lloyds of London, was able to offer both motoring and home insurance products.

Since its humble beginnings, NRMA insurance has broadened its product suite, now offering insurances such as:

  • bicycle insurance
  • boat insurance
  • business insurance
  • car insurance
  • caravan insurance
  • comprehensive car insurance
  • green slip insurance
  • home insurance
  • income protection insurance

No matter what business you're in, it's crucial to protect your assets. NRMA Business Insurance provides protection for a range of businesses. If you're a business owner, read on to find out the type of cover you need.

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NRMA Business Insurance

If you’re looking for a comprehensive insurance policy for your business, NRMA Business Insurance includes the following features:

  • Fire and other defined events. This section provides cover when fire, lightning, explosion or earthquake cause loss, destruction or damage to your business. This includes cover for your buildings, your contents and trade stock.
  • Business interruption. When fire, storm or other defined events cause damage or destruction to your business and you are unable to operate as normal, you’ll be covered for any resulting loss of profit.
  • Burglary. This feature covers you when your business is burgled.
  • Money. You are protected for the loss, destruction or damage of money in transit and on your business premises.
  • Glass. NRMA Business Insurance provides cover for damage or breakage to windows, advertising signs, cabinets, shelving and mirrors.
  • Broadform liability. When your business is liable for injury or property damage to a third party, this policy covers the cost of your legal defence and any compensation you must pay.
  • Personal accident and illness. This benefit provides cover when accident and illness prevent you from working and earning an income.
  • Other benefits. Your NRMA Business Insurance policy also provides cover for machinery breakdown, electronic equipment, motor vehicles, employee fraud or dishonesty, general property, multiple risks, tax audit and domestic house and contents.

However, exclusions do apply to this policy and your claim will typically not be paid if:

  • it is related to acts of war or terrorism
  • it is for consequential loss
  • it is related to an intentional act by you, or someone else with your knowledge
  • it is related to your failure to ensure electronic equipment is Year 2000 compliant
  • it is a result of a bushfire or cyclone.
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EasyBiz@home Business Insurance

NRMA’s EasyBiz@Home Business Insurance policy is designed to meet the needs of a wide range of home-based businesses. It includes cover for:

  • Fire and other defined events. This feature protects your contents, stock in trade and building when fire and other defined events cause loss, destruction or damage. The defined events include storm damage, lightning, explosion, earthquake, impact from trees and more.
  • Burglary. If thieves break in and steal your contents or if they steal upon threat of violence, your policy provides financial protection.
  • Business property away from home. This covers accidental damage to your stock in trade, tools, plant and equipment, electronic equipment and mobile phones when they are not at home.
  • Business money. NRMA’s EasyBiz@Home Business Insurance provides cover for the loss, destruction or damage of your business’ money.
  • Liability. If a third party lodges a claim that your business caused them to suffer a bodily injury or property damage, your policy will cover your resulting legal costs and any damages you must pay.
  • Other benefits. NRMA’s EasyBiz@Home Business Insurance also provides cover for personal accident and illness, motor vehicles and your domestic house and contents.

However, keep in mind that exclusions do apply to this policy. Your insurance claim will not be paid if:

  • it is related to an act of war or terrorism
  • it is for consequential loss of any kind
  • it is fraudulent
  • it results from you, or someone else with your knowledge, deliberately causing the loss, damage or destruction
  • it arises from damage or loss caused by a bushfire or a named cyclone.
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EasyFarm Business Insurance

If you run a farm, horticultural business or hobby farm, or if you own a rural property, NRMA’s EasyFarm Business Insurance is designed with you in mind. It provides cover for:

  • Fire and other defined events. When fire, storm, lightning, explosion, earthquake and other defined events cause loss, destruction or damage, your policy provides essential financial protection. Items such as your building, contents, fencing, hay, livestock and mobile agricultural machinery are all covered.
  • Burglary or theft. When you are the victim of burglary or theft, you’ll be covered for any loss you suffer.
  • Broadform liability. When you are accused of being liable for causing bodily injury or property damage to a third party, NRMA’s EasyFarm Business Insurance covers the cost of your legal defence as well as any damages you are required to pay.
  • Domestic house and contents. This covers your home and its contents against loss, destruction and damage caused by fire, explosion, lightning, earthquake, storm, malicious acts, riot, impact, theft and burglary.
  • Motor vehicles. Comprehensive cover is available for your business’ motor vehicles, including self propelled agricultural machines and mobile plant and equipment.

However, remember that the following exclusions will apply to your policy. Your claim will not be paid if:

  • it results from your failure to ensure that your electronic equipment meets Year 2000 Conformity
  • it is for the destruction or corruption of electronic data, except when caused by specific defined events
  • it relates to acts of war or terrorism
  • it is for consequential loss of any kind
  • it is fraudulent
  • it is as a result of you, or someone else with your knowledge, deliberately causing loss, destruction or damage.
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EasyBiz Tradesperson Business Insurance

EasyBiz Tradesperson Business Insurance from NRMA has been specifically designed to meet the cover needs of a wide range of tradespeople. It provides protection against the many risks tradies commonly face, including:

  • Fire and other defined events. This benefit applies when your business suffers loss, destruction or damage caused by fire, storm, lightning, earthquake, explosion or impact of some kind. It includes cover for your building, contents and stock in trade.
  • Burglary and transit. This covers you against burglary from your business premises, your private residence, an authorised person’s private residence, a securely locked motor vehicle or while your goods are in transit.
  • Multiple risks. This covers accidental loss, destruction or damage to your business property.
  • Broadform liability. If a third party claims your negligence resulted in them suffering an injury or in damage to their property, EasyBiz Tradesperson Business Insurance  covers your legal liability. This includes court costs and any damages you have to pay.
  • Other benefits. NRMA’s EasyBiz Tradesperson Business Insurance also provides cover for business motor vehicles and personal accident and illness.

Of course, just as with any other insurance policy, exclusions do apply to your cover. Your claim will not be paid if:

  • it is a result of your failure to ensure that electronic equipment meets Year 2000 Conformity
  • it is related to acts of war or terrorism
  • it is for consequential loss of any kind
  • it is for the destruction or corruption of electronic data, except when caused by specific defined events
  • it is fraudulent
  • it is the result of an intentional act by you, or someone else with your knowledge
  • it arises from a bushfire or named cyclone.
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Farm Insurance

NRMA Farm Insurance is designed to suit the needs of a variety of farms and agricultural businesses, but at the same time offers flexible features that can be tailored to suit the specific insurance requirements of different businesses. It includes cover for:

  • Fire and other defined events. If fire, storm, lightning, explosion, earthquake or some other defined event causes loss, damage or destruction, your NRMA Farm Insurance provides financial protection. Cover is provided for your buildings, contents, fencing, hay, livestock, machinery, produce bins, irrigation equipment, working dogs and mobile agricultural machinery.
  • Domestic house and contents. Your home, contents and car will also be protected against loss, damage or destruction caused by fire and other defined events.
  • Burglary or theft. If you find yourself a victim of burglary or theft, NRMA Farm Insurance offers financial protection to prevent you suffering a loss.
  • Broadform liability. When the actions of your business lead to a third party suffering an injury or damage to their property, you may face claims that you are legally liable. Your policy covers resulting court costs as well as any compensation you may have to pay.
  • Personal accident and illness. When you suffer an illness or accidental injury and are unable to work, your Farm Insurance policy will provide cover for any resulting loss of income.
  • Other benefits are offered to cover additional working costs, property in transit, machinery breakdown, motor vehicles, electronic equipment and tax audit.

If an event occurs that could lead to a claim under your policy, there are certain steps you must take. If you have been burgled or suffered loss, theft or malicious damage to your property, contact the police immediately. For any claim, it’s also important that you take all reasonable steps to prevent or minimise any further loss, damage or liability.

Finally, advise NRMA of your claim as soon as possible, making sure to provide all necessary details of your claim.

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Motor Vehicle Fleet Insurance

As the name suggests, NRMA Motor Vehicle Fleet Insurance is designed to cover the insurance needs of businesses which operate a fleet of vehicles. Once your application for cover has been accepted, your cover under this policy will commence. Motor Vehicle Fleet Insurance covers the person, company or firm named as the insured in the certificate of insurance, as well as any other body corporate or entities in which the insured has a controlling interest.

The policy provides cover for:

  • Defined events. You will be covered for loss, destruction or damage caused to your vehicles by fire, storm, hail, flood, vandalism, theft of an accident. If the use of your vehicles results in you incurring a legal liability, this will also be covered by your policy.
  • Additional benefits. Your policy also provides financial protection for a range of circumstances. These include towing to a repairer, recovery and return of vehicles following theft, emergency repairs, completion of journey, new replacement vehicles, lease payout, hiring costs following theft, use of trailers, replacement of locks and keys, disabled driver modifications and more.

Depending on the type and level of loss, destruction or damage to your vehicles, NR,A will settle your claim based on the repair of your vehicle, the cost of parts, total loss, the limit of liability and the excess you have to pay.

It’s also worthwhile remembering that certain exclusions apply to your cover. Your claim will not be paid if:

  • The vehicle was being driven by someone under the influence of alcohol or drugs.
  • You enter into a contractual agreement that limits or excludes your rights of recovery.
  • It is caused by a vehicle being unroadworthy or unsafe.
  • It is the result of an intentional act of the person driving the vehicle, except in the form of normal evasive action or effort to prevent injury or damage.
  • The vehicle was being used for an unlawful or illegal purpose.
  • The vehicle was being used in racing or testing in preparation for racing.
  • The vehicle was being used in a way that exceeded its carrying, lifting or towing capacity.
  • The vehicle was being used in underground mines, shafts or tunnels.
  • The vehicle forms part of your stock in trade.
  • The vehicle was being driven by an unlicensed driver.
  • The vehicle uses liquid petroleum gas (LPG) as a source of fuel.
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Motor Trade Insurance

Motor Trade Insurance from NRMA offers a high level of cover suitable for a wide range of businesses. It includes protection for:

  • Fire and other defined events. This benefit provides cover when fire and other defined events cause loss, destruction or damage to your business buildings, machinery and other contents, and stock in trade. The list of defined events includes lightning, explosion, earthquake, riot, impact by trees, vandalism and malicious damage.
  • Business interruption. When fire, storm and other specific events force your business to close for a period or make it impossible for you to operate at normal capacity, you’ll be covered for the resulting loss of profits until you return to normal trading.
  • Burglary. This protects your business contents, premises and stock in trade when your business is targeted by burglars.
  • Composite vehicles. This NRMA Motor Trade Insurance benefit covers loss, destruction or damage to the vehicle as well as legal liability.
  • Glass. You’ll be covered for damage or breakage to shopfronts, windows, advertising signs, display cabinets, shelves and more.
  • Broadform liability. If you become liable to pay compensation for causing personal injury or property damage to a third party, broadform liability protection will cover the cost.
  • Professional indemnity. This provides protection when you are subject to claims of professional negligence that result in a third party suffering a loss.
  • Other benefits. The policy also provides cover for money, personal accident and illness, electronic equipment, machinery breakdown, general property, employee fraud or dishonesty, tax audit, domestic house and contents, and composite watercraft.

As always, exclusions apply to this insurance policy. Your NRMA Motor Trade Insurance claim will not be paid if:

  • it relates to an act of war or terrorism
  • it is for consequential loss of any kind
  • it is fraudulent
  • it is the result of an intentional act by you, or someone else with your knowledge
  • it is for the destruction or corruption of electronic data, except when it arises from fire, theft or other defined events
  • it results from your failure to meet Year 2000 Conformity for your electronic equipment
  • it is caused by a bushfire or a named cyclone
  • it is for business premises that are not occupied for a period in excess of 60 consecutive days. For domestic house and contents cover, your claim will be rejected in the building has not been occupied for a period in excess of 90 days.
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Who Can Benefit From NRMA Business Insurance

Business Insurance for Domestic Services and Repair Businesses

NRMA Business Insurance offers policies designed to suit businesses run by handymen, domestic cleaners and anyone else who offers domestic services and repairs. Such policies combine some of NRMA’s most popular covers into one tailor-made business policy.

This includes public and products liability cover, general property cover, fire and defined events cover, personal accident and illness cover, and burglary cover. If needed, you can also elect to add a number of other options to your cover, such as business interruption insurance, motor vehicles insurance and more.

Business Insurance for Professionals & Consultants

Professionals like doctors, lawyers, accountants, real estate agents and more face unique risks whenever they do business. To look after the insurance needs of such professionals, NRMA has created policies tailor-made to suit.

Business insurance for professionals and consultants includes fire and defined events cover, burglary cover, money cover, glass cover, and public and products liability insurance. Of course, you also have the flexibility of including additional options with your policy, such as business interruption insurance, general property cover, machinery cover, electronic and equipment cover.

Public Liability Insurance

One of the risks many business owners face is becoming liable for causing injury or property damage to a third party. In such cases, businesses may find themselves being sued for negligence, which can be costly and also damaging to your reputation.

Public liability insurance covers you against claims of negligence in connection with your business that lead to injury or property damage. NRMA offers three levels of liability cover to suit a range of businesses: $5 million, $10 million and $20 million. This allows you to tailor the level of cover to meet the needs of your business.

Business Insurance for Hospitality

Those in the restaurant and hospitality business face a complicated array of risks every day. NRMA business insurance has created a specialist policy to provide essential financial protection against all those risks.

It includes fire and defined events cover, burglary cover, money cover, glass cover, and public and products liability cover. You can also add a range of other cover options to your policy if required, such as business interruption cover, general property cover, fraud and dishonesty cover.

Business Insurance for Retailers

NRMA Business Insurance can also be designed to suit the needs of retail businesses and market stall owners. This includes fire and defined events cover to protect against loss or damage, burglary cover to protect you when someone breaks into your premises, plus money cover for when cash is stolen from your premises.

Other features include protection against glass breakage to shop front windows and display cabinets, as well as public and products liability cover for third-party liability cover.

Business Insurance for Health & Medical Services

Doctors, dietitians, vets and a range of other professionals who provide health and medical services need insurance cover that offers protection against the unique risks their businesses face. With this in mind, NRMA business insurance offers a special policy for medical and health professionals.

It includes fire and defined events cover,burglary cover, money cover, glass cover, and public and products liability insurance. You can also elect to add optional protection for risks such as business interruption, general property, personal accident and illness, and fraud and dishonesty.

Business Insurance for Tradespeople

NRMA business insurance for tradies combines a selection of NRMA’s most popular business insurance covers. It offers public and products liability insurance to cover you against claims of negligence, fire and defined events cover for protection against loss and damage to tools and equipment, personal accident and Illness Insurance to protect your income when you suffer an illness or injury, plus general property protection.

If needed, you can also add other cover options such as motor vehicles, burglary, money, multiple risks, tax audit and machinery.

Business Insurance for Property Owners

Just as you need to protect your residential property against a range of risks, it’s also vital to take out insurance cover for commercial property. NRMA Business Insurance for property owners is designed to protect commercial properties now and well into the future.

It includes fire and defined events cover, business interruption cover, glass cover, plus public and products liability insurance. Other cover options you can add to your policy include burglary, machinery, general property, fraud and dishonesty, electronic equipment and motor vehicles.

Motor Trades Insurance

NRMA also has a Business Insurance policy designed to satisfy the cover needs of mechanics, auto electricians, motor vehicle detailers and others in the motor trades. Such businesses can take advantage of fire and defined events cover, which provides protection against things like fire and storm damage, as well as burglary cover, glass cover, public and products liability cover and money cover.

To add an extra level of protection, businesses can also include protection against business interruption, machinery breakdown, general property loss or damage and electronic equipment breakdown.

Farm Insurance

Whether you’re a dairy farmer or run a big sheep station, you need insurance cover to help protect your business and your financial future. Farm Insurance from NRMA includes fire and defined events cover, personal home buildings and contents cover, burglary and theft cover, public and products liability cover, and motor vehicles and mobile equipment cover.

Farmers who require extra cover can add more options to their insurance package, such as farm property in transit, machinery breakdown, electronic equipment, and personal accident and illness.

NRMA Business Insurance General Exclusions

As with any insurance policy, there are certain circumstances under which your NRMA Business Insurance policy will not be paid. These include:

  • If your claim relates to loss, damage, destruction, injury, illness or liability relating to warlike activities or nuclear material
  • If your claim is for consequential loss of any kind
  • If your claim is false or fraudulent
  • If the loss, destruction, damage or liability on which your claim is based or caused deliberately by you or someone else with your knowledge
  • If your claim results from an act of terrorism
  • If your claim is related to the destruction, corruption or erasure of electronic data, except when it arises from certain events such as fire, lightning or explosion
  • If your claim arises from the failure of any electronic equipment to meet Year 2000 Conformity
  • Cover will not be provided for a period of 48 hours from the time your policy commences for damage or loss caused by bushfire, grassfire or a named cyclone.

NRMA offers an extensive range of Business Insurance solutions to meet the needs of a wide variety of businesses. Each policy offers a range of competitive features and can be tailored to suit individual needs, but make sure to compare NRMA’s offerings with other policies on the market to find the right cover for you.

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