Startup & SME Business Insurance Package
That is why we have introduced Startup & SME Business Insurance Package to fulfill all your insurance needs instantly, online.


Startup & SME Business Insurance Package
That is why we have introduced Startup & SME Business Insurance Package to fulfill all your insurance needs instantly, online.

SME Business Insurance plans for the financial industry
BASIC
outstanding value
S$500,000
From S$181.90
S$135.76 (25% off)
STANDARD
everything you need
S$1,000,000
From S$288.90
S$215.61 (25% off)
PREMIUM
maximum coverage
S$2,000,000
From S$789
S$444.90 (332.04% off)
Customize your SME Business Insurance plan
Type of workplace: Office
Workplace Injury Compensation Insurance (WICA):
Do you wish to add WICA Coverage (according to MOM Regulations)?
How many employees do you wish to cover?
Number of employees:
Note: Maximum 25 employees
Annual premium starting at S$32.00 per employee
STANDARD PLAN
everything you need
We will reach out to you promptly regarding the Additional WICA coverage on this package once the contract is signed
What is Startup & SME Business Insurance Package?
Startup & SME Business Insurance Package is a flexible multi-line insurance solution for small and medium-sized Singapore businesses. It is designed to reduce your liability as a CEO, CFO, HR, or Entrepreneur for less than it would cost to buy these policies separately.
The standard coverage includes the following benefits:

All Property Risk
Public Liability
Personal Accident

Work Injury Compensation (Optional)
FAQs - SME Business
Who needs SME Business Insurance Package?
This policy is suitable for business owners who are looking for straightforward coverage against the most common risks that any startup or SME is exposed to in day-to-day operations.
Startup & SME Business Insurance Package is the right policy for you if you fit into the following profile:
- Your company size is less than 50 employees
- Your company generates less than $10 Million in annual sales
- Your business has a physical location where most of your operations are conducted
Why Do You Need an SME Business Insurance Package?
A common mistake that business owners do is estimate the need of buying business insurance based on the size of their business. They believe to invest in insurance once their business expands. However, they forget to account for the unforeseen events that are very natural to happen in the lifecycle of any business resulting in financial losses.
Small businesses are restricted with less cash flow and in a scenario paying for a lawsuit without insurance or repairing their office due to accidents will put a financial burden on their operations. Startup & SME Business Insurance Package works as financial support and relief for such unexpected circumstances.
Startup & SME Business Insurance Package makes handling claims easy for business owners as they have to maintain just one policy under which they can enjoy multiple coverages.
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 is not covered under SME Business Insurance Package?
A Startup & SME Business Insurance Package provides standard coverage against the most common risks. However, for more complex risks you will be required to extend the Startup & SME Business Insurance package with a few other policies to provide maximum protection depending on the nature of your business operations.
Professional Indemnity Insurance, Directors Liability Insurance, and Cyber Insurance are some of the vital insurances that are recommended to protect your financial assets but are not included in the Startup & SME Business Insurance Package.
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:
- Get instant coverage with a completely online process
- Enjoy 10% lower premiums from other insurers providing similar coverage
- 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.
What should you do to file claims?
BLACAZ. provides superior customer support throughout your insurance journey including claims process. BLACAZ. will liaise with the insurance partners to help file claims on your behalf so that you can enjoy a seamless experience. Our insurance experts are competitive and we boast a 80% success rate for resubmission of claims.
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