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ESSENTIAL INSURANCE
FOR
SMALL & MEDIUM-SIZED BUSINESSES
Planning on purchasing business insurance, but not sure what’s necessary? The BLACAZ. SME Essentials Package is the best place to start. We’ve put together the four most important insurance policies that SMEs and start-ups need into one affordable package.
SME Health And Employee Benefits
Country
Insurance for
Type of workplace
Office
Saloon
Restaurant
Medical Clinic
Shop
Starts from
S$181.90
/year
Customize & Buy

SME Essentials Package: Choose your plan

RECOMMENDED
Basic
outstanding value
Standard
outstanding value
RECOMMENDED
Premium
outstanding value
Select Your Corporate Health Package
Annual Premium From (per PAX)
S$181.90
Annual Premium From (per PAX)
S$288.90
Annual Premium From (per PAX)
S$444.90
Consultation and Tests
S$10 per visit
Covered in full
Covered in full
Singapore Polyclinic/Public Clinic
Covered in full
Covered in full
Covered in full
Consultation and Tests
-
S$4,000 per year
S$4,000 per year
Post Cancer Treatment
S$10, 000 per policy year
S$20, 000 per policy year
S$75, 000 per policy year
Nursing at Home
-
-
Covered in full
Physiotherapy
-
S$500 per year
S$750 per year
SME Essentials Package: What’s covered?
Get all your essential business insurance needs covered, with one simple and affordable package. Need something more customised? Let us know, and we’ll prepare a tailored quote for you.
The standard coverage includes the following benefits:
Property Insurance
Our all-encompassing “all property risk” property insurance offers extensive coverage – against accidental loss and burglaries – for both your business property and all personal property that is within your business premises.
Public Liability Insurance
Should a client, contractor or member of the public be injured or suffer property damage because of your business, you may be pulled into an expensive lawsuit. If this happens, your SME Essentials Package plan can assist with your legal costs and compensation payments.
Personal Accident Insurance
Should your employees be involved in an accident that results in an injury, permanent disability or death, your policy can ensure that the employee (or their family) is taken care of with appropriate financial compensation.
Work Injury Compensation Insurance
Have the financial capacity to cover any work-related injury or disease that an employee may suffer, without having to file a civil suit under common law – maintaining your company’s positive brand image.

FAQ - SME Essentials Package

Find the replies to your questions right below or connect with us!
What is the SME Essentials Package?

The BLACAZ. SME Essentials Package is a combination of four essential insurance policies, packaged together in one comprehensive solution. Besides enjoying the convenience of having all your essential business insurance managed by one provider, you’ll also benefit from savings as the SME Essentials Package is more affordable than purchasing the insurance policies separately. Our SME Essentials Package includes the following insurance policies: Property Insurance Public Liability Insurance Personal Accident Insurance Work Injury Compensation Insurance

Is the SME Essentials Package suitable for my business?

If you’re looking for a simple, straightforward plan that covers all the most common risks that SMEs and start-ups are exposed to on a day-to-day basis, then the BLACAZ. SME Essentials Package is perfect for you.

Our SME Essentials Package is designed for small and medium-sized businesses. This includes start-ups with only a few employees and modest revenues, all the way to companies with up to S$10 million in annual revenues and 50 employees.

Here’s a quick checklist to see if the SME Essentials Package is suitable for you:

  • Your company has less than 50 employees
  • Your business generates under $10 million in annual revenue
  • Your business has a physical location where most of your operations are conducted
Shouldn’t I save money now, and only purchase insurance when my business is bigger?

Absolutely not. In fact, insurance coverage is critical for small businesses as they often do not have the cashflow to pay for lawsuits, replace lost or stolen property, cover employees in the event of accidents, and other potentially financially crippling situations. The SME Essentials Package has been designed with your needs – and budget – in mind, and provides your company with a financial safety net, should an unexpected and unfortunate event happen.

What is covered under SME Business Insurance Package?

Startup & SME Business Insurance Package will cover the most common risks that any business is exposed to while running day-to-day operations. With broad cover for property and liability exposures, including optional WICA cover, BLACAZ. Startup & SME Business Insurance Package serves as the foundation for your small business insurance portfolio irrespective of the industry.

Let’s take a deeper look into what those specific insurance policies cover:

All Property Risk: Covers accidental loss or damage to your personal properties on-premises. Also includes burglary even without forcible/violent entry.

Public Liability: Covers legal costs and compensation payments for injury or property damage to a client, contractor, or another member of the public

Personal Accident: Covers the insured employees for accident-related injuries, death, and permanent disabilities.

Work Injury Compensation (Optional): Covers work-related injuries or diseases without having to file a civil suit under common law.

What isn’t covered in the SME Essentials Package?

Our SME Essentials Package offers standard coverage against common risks. For more complex risks, we recommend extending your coverage with a few other policies, depending on the nature of your business and the risks you face.

The following are not covered in the SME Essentials Package, and can be considered for more comprehensive coverage:

  • Professional indemnity insurance
  • Cyber risks insurance
  • Corporate health insurance
  • Directors’ liability insurance
How is the SME Business Insurance package offered by BLACAZ. better than other insurers?

Startup & SME business insurance package is quite standard across all insurers in terms of coverage. However, BLACAZ. makes a difference by providing a rich buying experience and unmatched customer support throughout their insurance journey.

BLACAZ. also provides some additional benefits which are rare to find in the traditional insurance process:

  1. Get instant coverage with a completely online process
  2. Enjoy 10% lower premiums from other insurers providing similar coverage
  3. Take your pick from our 3 packages customized for SMEs:
    • Starter package starting from S$136 annually
    • Essential packages starting from S$216 annually
    • Premium package starting from S$332  annually
How much does Business Insurance Package for small businesses cost in Singapore?

Our instant price estimator tool can give you a quick estimate on how much our Startup & SME Business Insurance Package will cost. You can find the tool at the top of our website.

With the digital operating model, BLACAZ. generates lower overheads and passes the savings from unnecessary administration on to you. This enables us to offer the most competitive price in the market.

How do I file a claim?

Just reach out to us, and we’ll manage your entire claim process for you – from submission to reimbursements and payments. You’ll be assured to know that we have an 80% success rate for the resubmission of claims, one of the highest in the industry.

Have more questions?

We’ll be happy to help, just contact us and our team will get back to you soon.

Speak with Us

Need more information? Schedule a consultation with us,
or download our brochure.