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General Business FAQs
You’ll find many answers to the most common, general questions about business insurance here. If you can’t find what you’re looking for or have a specific question regarding your own policy, please contact us.
Who's covered under my policy?
Your business policy will cover your business as well as your employees, directors, business partners, and/or senior executives.
What information do I need to provide when applying for business insurance?
AAMI has made applying for insurance as simple as possible. When obtaining a quote, please have the following information ready to go:
- An estimate of your business’ revenue
- The number of employees working for your business
To turn your quote into a policy you'll also need:
- The registered business name and / or trading name
- Your ABN or ACN number, if you have one
- Contact details
Does legal liability cover me in all parts of Australia?
Yes, it does! You're covered across Australia for the business activities noted on your policy schedule.
How long does it take to get Business Insurance?
Getting an online quote for your business takes only a few minutes. We’ll then need to ask a few more questions to create your business insurance policy, either online or over the phone. Once that’s done you’ll receive your policy immediately, via email. A printed copy will also be sent to you.
Why do I need business insurance?
Businesses obtain business insurance to protect their business activities and their business assets.
How do I get a tax invoice?
Once you’ve paid for your business insurance or began your monthly payments, your business insurance schedule will become your tax invoice. We can post or email your schedule to you if you need – get in contact with us to request it.
What is public liability insurance?
We (and other insurers) collect ESL to help pay for the NSW Emergency Services, including Fire and Rescue NSW, the NSW Rural Fire Services and the NSW State Emergency Services.
We began to remove ESL from insurance premiums during the 2016-2017 financial year. However, on 30 May 2017 the NSW State Government announced the deferral of the introduction of ESL (or the “FESL”) on council rates (therefore deferring the removal of the ESL from insurance premiums). As a result, we began to reintroduce ESL charges on relevant insurance premiums in late 2017.
Customers may find their total premium is higher than last year due to the reintroduction of ESL. This levy is also charged by other insurers in NSW however each insurer decides its own rate for ESL. The money contributed by insurers is used by the NSW State Government to fund vital emergency services.
If you require any further information regarding the re-introduction of ESL, please feel free to contact us on 13 22 44.
Does AAMI Business Insurance cover my business’ premises against flood?
No. At least, not automatically. While cover for property damage is available, that doesn’t necessarily extend to damage caused by flood. We may be able to extend your policy to cover flood, but it’ll depend on our underwriting guidelines. If we do offer you flood cover, it’ll likely incur additional premiums. If you’d like to discuss whether flood coverage is available for your business, please contact us.
For policy purposes, “flood” is defined as the covering of a normally dry land by water that has escaped or been released from the normal confines of any of the following:
- a lake (whether or not it has been altered or modified);
- a river (whether or not it has been altered or modified);
- a creek (whether or not it has been altered or modified);
- another natural watercourse (whether or not it has been altered or modified);
- a reservoir;
- a canal; or
- a dam.
AAMI Business Insurance can cover water damage caused by circumstances other than those outlined above; for example, from a damaged water pipe. For more information, please refer to the PDS.
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