Business package insurance explained
Public liability limits in business package insurance
The public liability limit on each insurer's cheapest business package for four typical businesses, from their published rates.
Limits by insurer
| Insurer | Cafe | Clothing shop | Medical clinic | Accounting firm |
|---|---|---|---|---|
| Etiqa | S$500,000 | S$500,000 | S$500,000 | Not shown |
| HL Assurance | S$500,000 | S$500,000 | S$500,000 | S$1,000,000 |
| Income | S$1,000,000 | S$1,000,000 | S$1,500,000 | Not shown |
| MSIG | S$1,000,000 | S$1,000,000 | Not written | Not shown |
| Sompo | S$1,000,000 | Not shown | S$1,000,000 | Not shown |
| EQ Insurance | S$500,000 | S$500,000 | Not written | Not shown |
| Tokio Marine | S$500,000 | S$500,000 | S$500,000 | Not shown |
| Great American | S$500,000 | S$500,000 | Not written | Not shown |
Allianz quotes its Smart SME package live from its own site, so it is not priced on this page: see it with your own answers on our business package page, or press Ask Shenton to arrange. Every typical business · Price your own business.
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 public liability do I need?
Public liability limits are often set by your landlord or a contract. S$1 million is common. Shopping malls and public bodies may ask for S$2 million or more.
Which packages give S$1 million?
For a cafe with 5 staff: Sompo, MSIG and Income, on their cheapest plans.
What if my lease asks for a higher limit?
Tell us the limit your lease or contract asks for when you press Ask Shenton to arrange on a plan.