Business insurance is vital for anyone looking to protect their investment, large or small. It keeps you safe from financial losses that could occur due to accidents, natural disasters, theft, lawsuits, or other unforeseen events.
There are various types of business insurance available, and what you need will depend on the nature of your business and the risks it faces. Here is a complete guide to business insurance in South Africa, including the top providers, what types of cover to take, and how to choose the right policy for your needs.
iWyze is geared towards tailored insurance packages. This is great for SMEs in South Africa. They are an online insurer which makes them accessible and easy to use.
Miway is backed by Santam, one of the largest business insurance providers in South Africa. With this security and expertise, they're one of the country's most affordable and customisable insurers.
Virseker is a leading business insurance company focused on the Afrikaans speaking sector of the market. They have a wide range of products and services and cover over 700 types of businesses in their current portfolio.
Senate is a well-known business insurance provider in South Africa with over 20 years of experience in the industry. As an industry-specific insurance provider, Senate is the best when it comes to goods in transit insurance.
Business Insurance Made Easy (or Bi-Me) is an online insurance broker that provides business insurance quotes from a panel of insurers. They are a relatively new company, but have a user-friendly website and offer a wide range of business insurance products.
Santam is one of the largest business insurance providers in South Africa. As such, they have a reputation as a reliable and trusted company. Santam is also a leading provider of heavy commercial vehicle insurance in South Africa, offering short-term insurance solutions for heavy commercial vehicles with a gross mass exceeding 3 500kg.
Aon South Africa is part of the Aon Corporation, a leading global provider of risk management and insurance. Aon has over 500 offices in 120 countries. In South Africa, they have been operational for over 50 years and are one of the largest business insurance products and services providers.
AIG is one of the world's leading insurance companies with a presence in over 130 countries. What’s more, they have been operational in South Africa for over 60 years. Small and medium business clients can take advantage of custom-tailored insurance solutions from AIG.
There are many different types of business insurance available in South Africa. The most common types are listed below:
When choosing a business insurance policy, there are a few things to consider, including the type of coverage you need, the amount required, and the excess you are willing to pay. You should also compare quotes from different insurers to ensure you are getting the best deal.
It is also essential to read the fine print of any policy carefully before signing up to be aware of any exclusions or limitations that may apply.
The next step is to consider the size of your business. Small businesses typically have fewer assets and employees than large businesses, so they may not need as much insurance coverage.
Having the right amount of coverage is critical, especially in South Africa. Recent rioting, natural disasters, and economic disruptions have made this clear.
Another factor to consider is the location of your business. If your business is based in a high-risk area, such as a flood zone or an area prone to rioting, you may need additional coverage to protect against these risks.
Determining the type of business you have will help you identify the potential dangers your business faces and the relevant insurance coverage you will require. That’s where the industry-specific cover comes in.
It is recommended that you select business insurance tailored to the industry in which you operate.
The following are some examples of industry-specific business insurance:
For example, if you run a moving company, you may need All Risk Goods in Transit insurance in case one of your trucks gets hi-jacked or items are stolen. You will also need additional comprehensive motor vehicle insurance to cover the costs of repairs and medical expenses in the event of an accident involving one of your trucks.
Many insurance companies offer specialised packages for specific industries. Biddulph’s, for instance, has arranged a special insurance programme underwritten by an insurance company - like Aon South Africa.
While you need enough insurance, you also need to consider what you can afford to pay in premiums. You should also consider the excess that you are willing to pay in the event of a claim. The higher the excess, the lower the premium. However, you should make sure that the excess is an amount you can afford to pay. Do clients need additional insurance when using a service - like a moving company?
If you are using a service like a moving company, you will need to check if they have their own insurance or if you need to get additional cover. Most moving companies will have their own insurance, but it is always best to check before you book their services.
Many moving companies charge a premium for insuring your household items, so it's a good idea to know whether it's included or comes at an additional charge.
You may not need additional insurance. You should be able to add the cover necessary for protecting your belongings while in transit. Some insurers only require details of the date of the move and the new address and don't charge extra for this cover.
If you are using a professional moving company, they should have their own insurance to cover any damage or loss to your belongings while in their care. However, it's always best to check the terms and conditions of their policy before you book their services.
It's also a good idea to take out your own insurance to cover any items of high value, such as jewellery, paintings, and antiques.
We hope that this guide will help you to find the best insurance for your business's needs.
The most important thing to remember when buying business insurance is that no two businesses are alike, nor are their insurance needs. There is no one-size-fits-all option for business insurance in South Africa and it’s important to shop around.
If you are a moving company looking to expand your business and take on new work to grow your business - join Wise Move. South Africa’s leading mover’s platform. We’re ready to help your business expand.
We built Wise Move to make a quick and easy connection between customers and moving professionals – our platform is the stepping stone to make removals easier and more streamlined than ever before, and it all starts with one click. We’re dedicated to connecting customers with the best, most efficient and most cost-effective movers in South Africa, both at a local and at a national level.
![4 Options for Small Business Funding in South Africa [2025]](https://cdn.wisemove.co.za/image/blog/fdeabac70544bb1ae3cf420850191033.png "4 Options for Small Business Funding in South Africa [2025]")
It's free and easy to create a request on Wise Move.
Describe, add photos and the dimensions of your shipment in your listing — anything that you think will make a difference, will make a difference.
Our platform will reach out to moving companies and movers relevant to your delivery specification in your area.
Movers may ask you a few more details about your delivery before giving you a quote.
Compare prices and get to know movers before accepting their quote by reading previous customer reviews on our platform.
Pick your preferred mover and arrange collection and delivery.
Prepare your package for collection or if you are moving home, get ready for moving day.
Meet and greet your chosen movers on your collection day.
Sit back and relax while your movers takes care of your booking.
Please notify us of any violations. This information will be kept confidential and shared only with Wise Move.
