Business Insurance for Franchises*
If you operate a franchise business you’ve come to the SMART place to find suitable cover at a competitive price.
The type of franchise you run will determine the type of insurance cover you need and may also impact on which insurance companies find your occupation an attractive risk to insure.
As business insurance specialists our brokers can provide general advice on the type of franchise policy insurance cover required and which insurance companies offer suitable terms and quotes for the various types of franchise operations.
Types of franchise operations we may able to source suitable cover for include:*
- Accounting and tax
- Building & construction
- Business Coaching
- Chicken Franchises
- Clothing and shoes
- Convenience store
- Equipment maintenance
- Event management
- Furniture store
- Greeting card
- Home Improvement
- Ice cream & yoghurt
- IT Franchises
- Investment Franchise
- Marketing & social media
- Management Franchise
- Pest control
- Property inspection
- Property Maintenance
- Retail Franchise
- Single Operator Franchise / manual
- Single Operator Franchise / executive
Types of industries that franchisees operate in that we may be able to source suitable cover for include:*
(please note this is general information and will vary greatly depending on industry type- please call a SMART business insurance broker on 1300 542 573 for more information on your type of franchise)
- Public Liability
- Product Liability
- Business & General Property
- Fire & Perils
- Workers Compensation
- Business Interruption
- Equipment Breakdown
- Professional Indemnity
- Management Liability
Our brokers may be able to “package up” multiple covers into the one policy and source suitable business insurance packages (biz pack) to suit the needs of your franchise.
Depending on the nature of your franchise business certain insurance companies may offer better terms. For common occupations our brokers will obtain multiple quotes on suitable insurance policies for your from leading insurance companies such as Vero, Lumley, Zurich and AIG. For specialist or niche occupations we will approach specialist underwriters with an appetite for your business on your behalf..
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What is the correct “Situation Address” to list on my business policy?*
The Situation Address must be the address of either the physical risk being covered (like a property) or, in the case of Liability policies, the physical address for the normal place (or places) of business.
If you have multiple business locations, e.g., a number of branches, shops, factories or depots, then ALL location addresses must be shown on the schedule and advised to the insurers. And the multiple location addresses then needs to be kept up to date with the insurers at all times, in the event of any changes.
Insurers will not accept a Post Office box as a “normal place of business”, because you cannot do business from a PO Box.
A PO Box is fine for a mailing address, but cannot be used as the address of the “Situation” on any policy.
For example, Public Liability policies usually operate “at and from” an address, which should be the normal place of business for a business policy.
If the business was run from home, for example, then the home address would be shown as the normal place of business. The “at and from” nature of the cover would then cover any transitory business conducted away from the home address (or away from a real business address, as the case may be).
If the business was run from home but was selling through stands or kiosks at markets or shopping centres then that would have to be disclosed to the insurer, as it affects the risk.