Income · Business package insurance
Income business package insurance
Income's business package priced for typical small businesses from its published rates, where it stands against the other insurers, and how to take it up.
In short
- Priced on 17 of our typical businesses, from S$300.00 to S$450.00 a year; the cheapest insurer on 0.
- Its published rates price 71 of the 113 kinds of business on our business package page.
- You buy on Income's own site: Buy Now takes you there, and Income issues the policy.
Its price on each business
| Business | Plan | A year | Place | Lowest of all |
|---|---|---|---|---|
| Cafe5 staff | SmartBiz 360 Essential | S$450.00 | 7 of 8 | S$218.00 (HL Assurance) |
| Restaurant10 staff | SmartBiz 360 Essential | S$450.00 | 6 of 8 | S$299.75 (HL Assurance) |
| Fast food outlet8 staff | SmartBiz 360 Essential | S$450.00 | 7 of 8 | S$218.00 (HL Assurance) |
| Bakery4 staff | SmartBiz 360 Essential | S$300.00 | 4 of 8 | S$218.00 (HL Assurance) |
| Takeaway kitchen3 staff | SmartBiz 360 Essential | S$450.00 | 5 of 6 | S$272.50 (Great American) |
| Hawker stall2 staff | SmartBiz 360 Essential | S$450.00 | 4 of 5 | S$212.23 (Etiqa) |
| Caterer6 staff | SmartBiz 360 Essential | S$450.00 | 6 of 6 | S$218.00 (HL Assurance) |
| Clothing shop3 staff | SmartBiz 360 Essential | S$300.00 | 3 of 7 | S$299.75 (HL Assurance) |
| Florist2 staff | SmartBiz 360 Essential | S$300.00 | 5 of 8 | S$218.00 (HL Assurance) |
| Optical shop3 staff | SmartBiz 360 Essential | S$300.00 | 3 of 7 | S$299.75 (HL Assurance) |
| Computer shop3 staff | SmartBiz 360 Essential | S$300.00 | 2 of 4 | S$299.75 (HL Assurance) |
| Medical clinic6 staff | SmartBiz 360 Premier | S$330.00 | 3 of 5 | S$286.13 (HL Assurance) |
| Hair salon4 staff | SmartBiz 360 Essential | S$350.00 | 8 of 8 | S$218.00 (HL Assurance) |
| Beauty salon5 staff | SmartBiz 360 Essential | S$350.00 | 8 of 8 | S$218.00 (HL Assurance) |
| Gym6 staff | SmartBiz 360 Essential | S$350.00 | 4 of 4 | S$280.80 (Etiqa) |
| Tuition centre6 staff | SmartBiz 360 Essential | S$320.00 | 2 of 2 | S$276.11 (Etiqa) |
| Music school4 staff | SmartBiz 360 Essential | S$320.00 | 4 of 4 | S$272.50 (EQ Insurance) |
Income for a cafe with 5 staff
| Insurer | A year | Value score | Public liability | Contents and stock | Business interruption |
|---|---|---|---|---|---|
| IncomeSmartBiz 360 EssentialBuy Now | S$450.00 | 40 | S$1,000,000 | S$100,000 | Included |
| IncomeSmartBiz 360 PremierBuy Now | S$540.00 | 51 | S$1,500,000 | S$150,000 | Included |
- Priced as Income’s Food and Beverage category.
- Priced as Income’s Food and Beverage category.
How these prices are worked out
Each price is worked out from the insurer’s own published rates: the tables swept off Etiqa’s, HL Assurance’s and MSIG’s online quotes, Income’s sampled online prices, and the premium tables on Sompo’s, EQ’s, Tokio Marine’s and Great American’s application forms. We check them against the insurers every week. GST is included. Each business rents its premises (no building cover) unless the page says otherwise; with WICA, wages are taken as S$30,000 a year for each staff member. Allianz quotes its package live, so it is not on these pages. Shenton Brokers is an insurance broker in Singapore. Every business is in a CSV file, updated daily.
Questions people ask
How much is Income business package insurance?
For the 17 typical small businesses it prices on our pages, from S$300.00 to S$450.00 a year on today's published rates, GST included. It is the cheapest insurer for 0 of them.
Which businesses does Income cover?
Income's published rates price 71 of the 113 kinds of business on our business package page.
What does Income's plan cover?
For a cafe with 5 staff, SmartBiz 360 Essential: contents and stocks S$100,000; public liability S$1,000,000; business interruption S$250 a day.
How do I get Income's business package?
You buy on Income's own site: Buy Now takes you there, and Income issues the policy. Ask Shenton to arrange sends us the plan and we arrange it for you.