Insurance Requirements Overview
Required for Registration
- Public Liability: Minimum $10 million (most common: $20 million)
- Professional Indemnity: Minimum $2 million (recommended: $5 million)
Often Required
- Workers Compensation: Required if you have employees
- Cyber Liability: Increasingly expected
Recommended
- Management Liability: Protects directors and officers
- Income Protection: Personal coverage for sole traders
Typical Costs (2024-2025)
Solo Providers
- Public Liability ($20M): $400-800/year
- Professional Indemnity ($5M): $600-1,200/year
- Total: $1,000-2,000/year
Small Teams (2-5 staff)
- Public Liability ($20M): $800-1,500/year
- Professional Indemnity ($5M): $1,200-2,500/year
- Workers Comp: Varies by state and wages
- Total: $3,000-6,000/year
Larger Organisations
- Costs scale with revenue, staff, and services
- Higher-risk services cost more
- Consider umbrella policies
What Affects Your Premium?
- Services provided - Higher-risk services cost more
- Revenue - Higher revenue = higher premiums
- Staff numbers - More staff = more risk = higher cost
- Claims history - Previous claims increase premiums
- Location - Some areas cost more
Where to Get NDIS Provider Insurance
Specialist NDIS Insurers
- BizCover
- AON
- Guild Insurance
- Jardine Lloyd Thompson
What to Ask For
- NDIS-specific policy wording
- Coverage for all your registration groups
- Incident response support
