Business Insurance About business insurance

[Mandy96]

Business insurance is just the means to protect business against downfall or bankruptcy. This type of insurance policy deals with your business and it serve as a shield or guard to protect your business. As long as you worry more about the premium aspect and you keep to it then I don’t think there is any negative thought you should be worried about concerning the insured business.
Where this type of insurance comes in is when the insured business is facing a hard time and what I mean by a hard time is the time when the business experience more losses or rather no profit at all, you know when business is at a stage like this then it’s getting to a bankruptcy stage. That’s when the business owner make a claim for the compensation from the insurance company.

 

[Setho]

I have actually been a living witness of somebody who benefited up to 1 million naira from an insurance company during the lockdown. This was because he had made claims that he lost a lot of money because of the pandemic and that was also covered in the insurance policy so they paid him that amount