What insurance is needed for a new company?

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Nathaniel

13 Feb 2022

WICA Insurance (Worker’s Compensation): Protects your employees if they suffer work-related injuries/sickness. This is legally required for all manual workers (e.g. cleaners), or workers who earn <$2,600/month.
Public Liability Insurance: Protects your company against liability for injuries or property damage to third-parties. For instance, if you break a customer’s vase while cleaning their house, this policy can provide liability protection.
Commercial Property Insurance: If you have an office/business premises, this policy will protect your property. This includes your cleaning equipment, employee belongings, computers, etc.
Commercial Vehicle Insurance: If you have a commercial vehicle, such as a van you use to drive around to various client sites, the law requires you to carry a vehicle insurance policy.
Foreign Worker Medical Insurance: If you’re hiring foreigners for your company, you’ll need to have Foreign Worker Medical Insurance. This is required by law.
Company Health Insurance: Nice to have as a benefit to retain cleaning staff. Turnover in the cleaning industry is very high, so offering company health benefits can be a useful way to reduce turnover and retain good workers.

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