Insurance for Businesses

At Budget, we don’t have any waiting periods for our Business Insurance. Your business faces numerous risks every day, so we want you to have complete cover and peace of mind from the moment you take out Commercial Insurance with us. Whether you are covering your business assets, your motor vehicle, or your business itself with public liability insurance, you’re covered from the very start.

This depends on the nature of your claim and on how quickly we get all the documents we need from you. For claims for physical assets, such as your business vehicle or operating equipment, we aim to pay out within 48 hours once the claim has been approved. For public liability claims, the costs can be ongoing, in which case, we will pay out as your claims come in. Ultimately, we want you to get back to business-as-usual as quickly as possible, and we’re sure you do too!

You can insure as many businesses as you need to with us. However, they will each need their own separate policies. That’s because every business has its own unique needs and we tailor our Business Insurance to suit these needs. For example, one business might have a fleet of vehicles that need cover while the other only provides online services. But rest assured that no matter how different or similar your businesses may be, there’s an affordable Business Insurance solution for all of them.

All businesses grow and change – that’s the nature of running a successful enterprise. That means your commercial insurance should grow and change with it. What good is cover that gets left behind while your business streaks ahead? With Budget, you can upgrade or downgrade your cover as needed. So whether you’re expanding your operations at the speed of light or you’re going through a slow patch and need to scale back, we can adjust your cover as you need.

It’s not so much which assets will be excluded from your cover but rather the risks that they face.

For example, while we cover your office contents for a range of risks – from theft to accidental damage – we don’t cover them for malicious damage or if an item has a faulty design.

We cover you for money stolen, but not if it was not contained in a locked safe while the business premises were empty.

Some items are only covered if you specify them in your policy, such as laptops, tools, and cellphones you carry with you regularly. Also, if these are left in an unlocked car, for instance, you won’t be covered.

What type of cover you need will depend a lot on how your business operates. For some businesses, insurance is compulsory. For example, if you deal with the public on a regular basis, you will likely need to have public liability insurance. Another example is, if you have employees who drive on the job, their vehicle will need to be covered by third party insurance as a minimum. It’s best to speak to one of the experienced advisors on our team to find out what business insurance you need. Call us on 0861 00 13 53.

Typically, business interruption insurance covers fixed expenses, loss of operation profits, and extra expenses incurred to keep the business operating (e.g. temporary premises or overtime). A loss of essential services such as water, sewage, public telephone, and internet may also be covered. Your business can be covered if it cannot access any of its property due to damage, as well as any similar damage sustained by suppliers or contractors that keeps them from operating. Find out more about business interruption insurance and who needs it in our expert article.

Public liability insurance in South Africa starts from as little as * per month.  Speak to one of our helpful advisors for a tailored quote and find out what insurance your business needs today.

A small business may require public liability insurance, general business insurance or third-party insurance on any employee vehicles. If you operate your small business from home, your standard home contents insurance won’t cover the cost of any office equipment used for business, so you may need to look at office business insurance too.