The Finance AlgorithmTFA

Business Insurance Calculator

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Estimate business insurance costs including public liability, product liability, and business interruption. Find the right cover package for your business.

Free to useNo data storedReal-time dataAI insightsUpdated: February 2026

Business insurance isn't a single policy — it's a package of covers tailored to your specific risks. A café needs public liability and business interruption; an IT firm needs professional indemnity and cyber liability; a tradesperson needs public liability and tools cover. This calculator helps you identify which covers your business needs and estimates the total cost of your insurance package.

Enter Your Details

Enter Your Details

Your industry determines risk profile and required covers

$

Used to estimate appropriate cover levels

More employees = more liability exposure

Covers injury or property damage to third parties at your premises or from your work

Product liability covers claims from products you sell or manufacture

Covers lost income if your business is forced to shut due to fire, flood, etc.

Covers data breaches, cyber attacks, and privacy violations

Real-World Examples

Small Café

Café with 6 employees, $600K revenue, serves food and beverages.

Recommended package: Public liability ($20M) + Product liability + Business interruption (12 months) + Workers comp. Estimated total: $3,000-$6,000/year. Tax-deductible. A customer slipping on a wet floor could result in a $200,000+ claim — $20M PL cover is essential.

IT Consultancy

5-person IT firm, $1.2M revenue, handles client data.

Recommended: Professional indemnity ($5M) + Public liability ($10M) + Cyber liability ($1M) + Business interruption. Estimated total: $6,000-$12,000/year. A data breach could cost $50,000-$500,000+ in notifications, legal fees, and fines.

Frequently Asked Questions

Glossary

Public Liability
Covers claims from third-party injuries or property damage occurring because of your business activities.
Business Interruption
Covers lost revenue and ongoing expenses if your business is forced to close due to an insured event.
Cyber Liability
Covers costs from data breaches, cyber attacks, ransomware, and privacy violations including notification and legal costs.

Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Interest rates, fees, and policies change frequently. Always verify information with lenders directly. This is general information, not personal financial advice. Consider seeking advice from a licensed mortgage broker or financial advisor.

Last updated: February 2026

How to Use
  1. Select your business type and enter annual revenue.
  2. Choose the number of employees.
  3. Select your required public liability cover level.
  4. Indicate if you sell products (for product liability).
  5. Choose business interruption and cyber liability options.
  6. See your estimated insurance package and premium.
Key Information
  • Public liability: mandatory for many industries. Covers third-party injury or property damage. $10-$20M is standard.
  • Product liability: if you sell or manufacture products. Covers claims from defective products.
  • Business interruption: reimburses lost revenue if an insured event forces your business to close temporarily.
  • Cyber liability: increasingly essential. Covers data breaches, ransomware, privacy violations, and notification costs.
Pro Tips
  • A BizPack (Business Package Policy) bundles multiple covers at 10-30% cheaper than buying separately.
  • Business insurance premiums are 100% tax-deductible as operating expenses.
  • Review cover annually — as your business grows, your exposure increases and cover limits may need to increase.
  • Cyber insurance is becoming essential for ANY business that holds customer data — even small businesses are targets.
Avoid These Mistakes
  • Only getting public liability and thinking you're fully covered — most businesses need 3-5 different types of cover.
  • Not getting business interruption cover — a fire or flood that shuts you down for 3 months without income replacement can be fatal.
  • Underinsuring — setting cover limits too low to save on premiums means you're exposed if a large claim occurs.
  • Not reading the policy exclusions — know what ISN'T covered before you need to claim.
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