Youi Small Business Insurance

You’ve worked hard building your business, so our Small Business insurance will work hard to help protect it.

Youi’s Small Business insurance automatically includes legal liability cover for situations where your business is required to pay compensation to a third party, such as for personal injury or property damage claims.

For example, imagine you own an electrical business, and one of your electricians did a job a few months ago at a customer's home. Unfortunately, due to the work the electrician carried out, the meter box caught fire and caused damage to the customer’s property. In this case, your business may be held liable for the damage, and Youi’s Small Business insurance would generally provide cover for this.

Youi’s Small Business Insurance also automatically includes cover for associated legal costs, and for new quotes or renewing policies from 4 September 2021, it also includes coverage for advertising liability for incidents that occur in connection with advertising a business.

If you want extra protection, you can also choose from our range of optional covers. Our Business Items option provides cover for things like your tools of trade or portable computer equipment, and our Business Property Damage option covers items like your stock in trade and business contents. We also offer Money cover, and if you rent the commercial premises you run your business from, cover for glass.

No one knows your business needs like you, that’s why we’ve included automatic cover for the basics, and let you decide the rest.

Our Small Business Insurance product automatically includes coverage for Public and Products Liability, and based on your business needs, you can also choose from our other optional covers. Our Business Items option provides cover for things like your tools of trade or portable business equipment, and our Business Property Damage covers items like your stock in trade or business contents.

We can also offer cover for your money, and if you rent a commercial premises to run your business from, cover for glass. To help you decide what you need, you can read the Product Disclosure Statement and Policy wording for full details.

It takes a lot of work to build your own business, so let us help you protect it.

Youi’s Small Business insurance automatically includes legal liability cover for situations where your business is required to pay compensation for personal injury or property damage claims. It also automatically includes coverage for associated legal costs, and for new quotes or renewing policies from 4 September 2021, we’ve included automatic advertising liability cover for incidents that occur in connection with advertising a business.

You can also choose from our optional covers based on your business needs, like our Business Items or Business Property Damage covers.

Our Business Items option provides cover for things like your tools of trade or portable business equipment, and our Business Property Damage covers items like your stock in trade or business contents. If you rent a commercial premises to run your business from, you also have the option of glass cover.

It’s good to remember too, that we offer car insurance for business vehicles that might better suit your business needs.

There are a few key themes that will determine how much your Public and Product Liability insurance will cost. These include:

• The nature of your business
• The turnover of your business
• The number of employees and whether you use sub-contractors
• The amount of insurance cover your business needs
• The location of your business

We’ve put together a handy snapshot of what our current Public and Product Liability insurance customers pay in premiums – with the average cost just $69 per month.

From our analysis, we have found that around 40% of our Public and Product Liability insurance customers pay less than $50 per month; while around 45% pay around $51-100 per month for their Public and Product Liability insurance.

At Youi, we provide a simpler and sharper approach to helping you get your Public and Product Liability insurance sorted.

Disclaimer: Average business liability premium for new policies sold between and including 1st Dec 2020 – 31st May 2021.

You can choose from 3 different limits for liability cover:

• $5,000,000
• $10,000,000
• $20,000,000

In certain scenarios, we may require you to have an ABN. This may act as the business’s identifier.

You can search for your ABN via the government public database at http://abr.business.gov.au/

If you let us know that you perform plumbing work in Victoria, this cover is automatically included.

You can add optional cover for loss or damage to money that belongs to the business.

When we ask about employees, we are referring to anyone who is employed by or involved in the business including any shareholder, director, partner, executive, officer, worker or apprentice.

If you let us know that you perform electrical work in Queensland, this cover is automatically included.

You can include cover for loss or damage to your business items or stock up to set limits.  

We automatically provide you with these documents:

• Product Disclosure Statement (PDS)
• Policy Schedule
• Tax Invoice

Amended documents will be sent you when you update or renew your policy.

You can also request a Certificate of Currency.

If anything changes during the term of the policy, you should notify us straight away. To do this you can either call us directly on 13 YOUI (9684) or log on to your policy via our website