Statutory Liability Insurance
Cover against certain unintentional breaches of some NZ laws.
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What is Statutory Liability insurance?
Statutory Liability insurance protects you, your business and your employees against certain unintentional breaches of some New Zealand laws (but not criminal laws).
It can be tough keeping up with the law, especially if you’re not a legal wiz. That’s why you might want cover to protect your business if you accidentally breach an Act of Parliament or missed something in your risk management plan.
What does Statutory Liability insurance cover?
Legal and Defence
Costs associated with alleged breaches of statutory acts affecting commercial activities.
Inquiry Attendance
The cost of representation at an investigation or hearing.
Fines or Cash Penalties
Costs associated with alleged breaches of statutory acts affecting commercial activities.
Some examples of injuries not covered by your policy, but may be covered under ACC, for certain claims relating to the workplace:
- Injury to employees
- Compensation for personal injury whereby cover is provided by the ACC
- Damage to your own property
- Known claims or circumstances
Why might you need Statutory Liability insurance?
Business insurance isn’t mandatory in NZ for most businesses, but you may need a Statutory Liability policy to do things like:
Pay for representation during an investigation or hearing
Pay legal and defence costs
Pay fines or cash penalties
Get your Statutory Liability insurance sorted quicker than ordering lunch for the office.
Get your Public Liability insurance sorted quicker than a smoko break.
15000+ NZ
small businesses covered
- Accountants & Tax Agents
- Tech Professionals
- Mortgage Brokers
- Marketing & Multimedia
If you don’t see your industry or occupation mentioned above, it doesn’t mean Statutory Liability isn’t suited for your business.
It only takes few minutes to find insurance that fits your business needs.
How much does Statutory Liability insurance cost?
Statutory Liability insurance costs $13.95 per month* on average, for BizCover NZ customers – but every business is unique.
The cost of a policy can vary based on how many employees you have, risks, insurance requirements and other factors.
The costs are real, get that new policy feel
$13.95/mo*
Expected average cost
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply. This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
Click here to check industry wise average prices
Get cover that works with the risks of your business
You can select from 3 different levels of cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Flexible Cover
Pick from 3 levels of Statutory Liability cover
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
Statutory Liability
$13.95/mo*
Expected average cost
How is the cost of insurance calculated?
Risks of the industry
Cover level amount
Annual turnover
Number of employees
Claims history
*Customer Average Monthly Payment Report is based on 1 July 2023 to 30 June 2024 and presented as a guide only. It may not reflect pricing for your particular business, as individual criteria will apply. This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
Click here to check industry wise average prices
Get cover that works with the risks of your business
You can select from 3 different levels of cover.
This is the most you will be paid out if you need to make a claim. Choosing different cover levels may impact the cost of your policy.
Flexible Cover
Pick from 3 levels of Statutory Liability cover
Unsure how much to choose? Think about:
Statutory professional requirements
Cover required by contracts
Number of employees being covered
Your contract value
Worst case scenario claim size
Underinsurance
We know it’s tempting to select a lower level of cover to reduce premiums, but this can leave businesses shocked and insufficiently covered when making a claim.
Ways underinsurance catches business owners out:
Inflation
With inflation, the cost of living and doing business increases. Remember to cover you, your tools and assets for the rising costs of replacing or covering them, not what you paid for them – you may be surprised at the difference.
Not covering the full cost of your risks
If you select cover levels for less than the value you may be found liable – left out of pocket when it comes to claims time. It’s important to review your risks and determine how much you will need to cover any claim that may come your way.
How it works – buying online
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How it works – making a claim
We’ll assist you through the claims process & manage your claim directly with the insurer.
Let us know Fill out our claims form and provide info to support the claim
Receive extra support We will assist you with your claim
Claim results We will notify you of the claim outcome.
Let us know Fill out our claims form and provide info to spport the claim
Receive extra support We will assist you with your claim
Claims results We will notify you of the claim outcome
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The savings are real
See how much others have saved while purchasing policy through Bizcover
Martin
Gardener from
Christchurch
Saved
$2,000
on
Public Liability, Statutory Liability
& Employers Liability
Vicki
Management Consultant
from Napier
Saved
$1,500
on
Professional Indemnity &
Public Liability
Ian
Plumber from
Picton
Saved
$600
on
Public Liability&
Statutory Liability
Yvonne
Councellor from
Rotorua
Saved
$100
on
Public Liability &
Professional Indemnity
^ Savings made from January 2023 to July 2024. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
Frequently asked questions
Confused about Statutory Liability insurance? We have answered the most common questions we get here.
If you still have questions, you can reach one of our friendly business insurance experts – – go here for our Contact Us details.
There isn’t a one-size fits all price when it comes to Statutory Liability insurance policies. Each business is different with its own exposure to potential risks. Factors like the number of staff and the type of work your business conducts can impact the pricing of your policy.
To find out how much Statutory Liability insurance may cost your business get a quote today.
These two types of insurance are designed to cover different risks that your business may face.
Professional Indemnity insurance is designed to respond to claims of losses as a result of actual or alleged negligent acts or omissions in the provision of your professional service or advice. It will also assist with the legal costs associated with responding to or managing claims which are covered by the policy.
Statutory Liability insurance protects against certain unintentional breaches of New Zealand Acts of Parliament.
Public Liability insurance is intended to protect against different risks than what Statutory Liability insurance is designed for.
Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public are injured (and not covered by the Accident Compensation Commission (ACC)) or sustain property damage as a result of your negligent business activities.
Statutory Liability helps you manage unintentional breaches of key NZ business legislation. Policies typically cover legal and defence costs, plus fines and penalties you may be ordered to pay.
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Efficient and great price
Quoted and bought insurance online, very quick and a great price.
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BizCover is definitely worth their word. Quick easy understandable cover
Straight forward
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It is very straight forward and easy to understand and you can choose whatever you need for your business.
Easy to choose
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Easy to choose business insurance. The search and the options provided were very simple and straight forward, didn’t expect it to be that easy.
Fast, friendly and efficient
Kylie T
The customer service agent was excellent. He explained to me clearly all the questions I had. Can’t be beat on price for the policy I needed and I was contacted within half an hour of my enquiry. Policy was confirmed on the phone. Excellent.
