Finding the right broker shouldn’t be the hard part.
There are thousands of insurance brokers in Australia, and it’s hard to know which one to call, or what cover to ask about. COVRA puts you in touch with one who works with businesses like yours. It’s free for businesses.
Why it’s confusing.
Business insurance is hard to follow, and so is finding someone to help with it.
- So many brokers The brokers’ industry body, NIBA, alone represents 380+ broker firms and 14,000 brokers and authorised representatives (NIBA).
- Not every broker suits every business Brokers work with different industries, covers and insurers. The small business ombudsman says a broker “can be a deciding factor in the quality or availability of insurance for small business” (ASBFEO, 2020).
- Calling around takes time Searching, comparing websites and explaining your business to one broker after another.
- Knowing what to ask for Often you only find out you need a cover when a client, a lease or a licence asks for it.
What COVRA does differently.
We do the finding, so you only have one conversation.
- We choose for you Tell us about your business, and we put you in touch with one licensed or authorised broker who works with businesses like yours.
- One broker, not ten calls Your name and contact details go to one broker only.
- Licensed or authorised brokers only Brokers must hold an Australian Financial Services Licence or be an authorised representative of a licensee.
- Know what to ask Our free check and guides explain the covers businesses like yours often look at, so you go into the conversation informed.
On your own, or with COVRA.
Either way you end up with a broker. The difference is the work it takes to get there.
| Finding one yourself | With COVRA | |
|---|---|---|
| Choosing a broker | Search, compare and guess who suits your business | We put you in touch with one who works with businesses like yours |
| Your details | Given to each broker you contact | Given to one broker only |
| Licensing | Up to you to check | Licensed or authorised brokers only |
| Cost to you | Your time | Free, with no obligation |
Why use a broker at all?
What the small business ombudsman’s insurance inquiry says brokers do.
- They know the market Brokers “act as intermediaries and experts linking small businesses to insurance companies”.
- They act for you Brokers “are normally agents for the insured (small business)”, not the insurer.
- They’re licensed They hold, or are authorised representatives of a company that holds, an Australian Financial Services Licence regulated by ASIC.
- They can give advice Unlike COVRA, a broker can look at your business and advise on your options. How COVRA works.
Source: Insurance Inquiry Report, Australian Small Business and Family Enterprise Ombudsman, December 2020.
Common questions.
Is COVRA an insurance broker?
No. COVRA isn’t a broker or an insurer, and doesn’t give advice. We put your business in touch with a licensed or authorised broker, who can give advice and arrange cover.
Will I get lots of calls?
No. Your name and contact details go to one broker only.
How does COVRA choose the broker?
Approved brokers who work with businesses like yours can take on enquiries. Yours goes to one of them, who gets in touch with you.
Is it worth using an insurance broker?
The small business ombudsman describes brokers as experts who link small businesses to insurers, and says they normally act for the business rather than the insurer. A broker can also give advice about your situation.
How do insurance brokers get paid?
Through fees and commissions from insurers, according to the small business ombudsman. Your broker will tell you about any fees or commissions they receive.
Still have a question? A broker can talk it through with you.
Get matched with a brokerLet us find your broker.
Tell us about your business in a few steps. One broker who works with businesses like yours will get in touch.
- Free for businesses, with no obligation
- One broker who works with businesses like yours
- No calls from multiple insurers
Get matched with the right broker in a few simple steps
Tell us about your business and we’ll match you with a broker relevant to your enquiry. You’ll only be contacted by one relevant provider.
Step 1 of 3