Personal Insurance for Business Owners
You've protected your business — but who's protecting you? Personal insurance covers what business insurance doesn't: your income, health, and family's financial security when you can't work.
What you need to know
You've worked hard to build something and protected the business. The logical next step is making sure that if something happens to you — illness, injury, or worse — neither your family nor your business is left exposed.
How this protects you
Income protection replacing up to 75% of lost earnings if you can't work
Life and trauma cover providing lump sum payments for serious conditions
Private health insurance getting you treated in weeks, not months
TPD cover providing funds to exit your business if permanently disabled
Regular reviews every 12-24 months ensuring proper coverage
Access to 30+ insurers to find the best fit for your situation
Years of experience
Clients protected
5-star reviews
What's covered
Personal insurance covers what business insurance doesn't — your income, your health, and your family's financial security. This includes Income Protection Insurance that replaces up to 75% of your lost earnings if illness or injury prevents you from working. Life and Trauma Cover provides lump sum payments for serious conditions like cancer, heart attacks, or stroke, giving you and your family financial breathing room during recovery.
Private Health Insurance ensures you're seen and treated in weeks rather than months, minimising disruption to both your health and your business. Total and Permanent Disablement (TPD) Cover provides the funds needed to exit your business cleanly if you're permanently unable to work, covering outstanding debts, business wind-down costs, and future living expenses.
For home-based businesses, we also review whether your business equipment, stock, and client liability are properly covered under your home insurance. Standard home insurance policies typically exclude commercial activities, meaning your business assets and professional liability may be completely unprotected. We ensure there are no gaps between your personal, home, and business insurance arrangements.
Why you need this
Your business insurance protects your company — its assets, liabilities, and operations. But it doesn't protect you. If you're sick for three months, your business liability policy won't replace your income or pay your mortgage. Unlike employees, you don't have paid sick leave, employer-subsidised health insurance, or a salary that keeps arriving while you're recovering. When you stop working, the money stops. But the mortgage, school fees, and bills don't.
For self-employed people and business owners, even a few weeks out of action creates financial strain. A few months can be devastating — not just personally, but for the business itself. Without you at the helm, revenue drops, clients may leave, and critical decisions get delayed. The business you've built becomes vulnerable precisely when you need it most.
Consider real scenarios: A 45-year-old business owner diagnosed with cancer faces 6-12 months of treatment and recovery. Without income protection, they're choosing between paying themselves, paying staff, or keeping the business afloat. A tradesperson with a serious back injury can't return to physical work — without TPD cover, they have no funds to retrain or transition into different work. A consultant waiting 6 months for public surgery loses clients and income that private health insurance could have prevented. Personal insurance isn't just about protecting yourself — it's about protecting everything you've built.
Get Your Personal Insurance Sorted in 4 Steps
From initial review to comprehensive protection, we'll guide you through the entire process
Review Your Current Position
We'll assess your existing personal and business insurance, identify any gaps, and understand your financial obligations, family situation, and what you need to protect.
Compare Your Options
Access quotes from 30+ insurers for income protection, life and trauma cover, health insurance, and TPD. We'll explain the differences in coverage, waiting periods, and premiums.
Tailor Your Coverage
Select the right balance of cover levels, waiting periods, and premiums that match your budget and risk profile. We'll ensure you're neither underinsured nor paying for unnecessary cover.
Stay Protected Long-Term
Receive your policy documents and ongoing support. We'll review your coverage every 12-24 months or after major life events to ensure it still fits your circumstances.
Pricing factors
Several factors influence your personal insurance premiums:
- Waiting period — A 30-day wait before benefits commence costs significantly more than a 90-day wait. Choose based on how long you could self-fund if unable to work.
- Income level and coverage percentage — Higher income and higher coverage percentages (up to 75% for income protection) increase premiums proportionally.
- Age and health — Premiums increase with age, and pre-existing medical conditions may result in exclusions or loadings. Securing cover while you're younger and healthier locks in better rates.
- Occupation and risk level — Office-based professionals typically pay less than those in physically demanding or high-risk occupations.
- Policy structure — Agreed value policies (guaranteed payout) cost more than indemnity policies (based on actual income at claim time), but provide greater certainty.
- Benefit period — Longer benefit periods (e.g., to age 65 vs 2 years) provide better protection but increase premium costs.
Policy terms, exclusions, and premiums vary considerably between insurers for what appears to be identical cover. At Gerrards, we compare options across 30+ insurers to find what genuinely makes sense for your situation. Industry best practice is reviewing your insurance portfolio every 12-24 months, or after any major life event, to ensure you're neither underinsured nor paying for cover that no longer reflects your circumstances.
What our clients are saying
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Related FAQs
The answers that matter when you're deciding on coverage.
Protecting the Person Running the Business
Review your current position, identify gaps, and compare options across 30+ insurers
