Business Insurance Do Businesses need Insurance?

[raaman]

When you talk about insurance, it is not only about your health and life. The business you intend to start is also important for insurance protection. Insurance itself is a financial risk control where you transfer the risk from one party to another.

The insurance company is the insurer, while the insured is the customer. Business insurance is intended to overcome the risks that arise in the business activity itself. There are a lot of benefits that can be obtained from business insurance.

It includes risk transfer, business growth, collection of balanced fund premiums, and loss prevention. That is why, it is important for business owners including micro, small, and medium enterprises to insure their business, especially in uncertain conditions such as the current pandemic.

 

[btaliat]

Business is even the one that needs insurance the most in my own understanding. There are several risks that are associated with business and if care is not taken, these risks can pose setbacks for the businesses if they are now well taken care of. This is the major reasons why insurance is needed for business.

 

[Good luck]

Every business should be insured as far as i am concerned.A business without insurance may be at a risk of having issues or problem in future.One must always plan insurance when trying to set up a business to avoid unforseen circumstances and such business should get the right insurance plan because of a lot of scammers in the name of insurance.

 

[funmi]

It is good for us to insure our businesses. If we do business insurance it will help the business not to fall totally when anything bad happens. Business insurance is good for business owners especially those that their businesses are so big with billions of money invested. Business insurance will help them not to lose all that they have invested in the business may be through fire accident or robbery or any kind of disaster.

 

[btaliat]

The kind of business that one engages greatly determine the type of insurance to be involving in. For instance, business like schools should not be thinking of investing in fire insurance policy because there is little chance of fire incident in school unlike a business like gas business which is prone to fire incidence.

 

[Setho]

It is actually a very good important for every business to try to get one insurance cover or the other. There are some businesses that should have even more than one depending on the risk that they are more likely to encounter during their daily work. So you should try to get an insurance for your business.

 

[kayode10]

It can be very risky to run a business without insurance, especially when you have a bigger company that moves goods worth millions of Dollars. This is like driving a car without holding the steering. It can be very fatal. It is even mandatory in some country to obtain insurance for your business before you start up.

 

[Wisdom01]

Yes it is very important for business to get an insurance policy ,to protect their business and get it covered against any form of risk that might want to occur ,so the best is get an insurance policy for your business even if it's at lower cost so you could get coverage for the risk

 

[btaliat]

It can be very risky to run a business without insurance, especially when you have a bigger company that moves goods worth millions of Dollars. This is like driving a car without holding the steering. It can be very fatal. It is even mandatory in some country to obtain insurance for your business before you start up.

You are very correct. I really pity those that didn't even have their businesses insured especially last year when there was covid 19 pandemic. Almost all businesses collapsed then but those that have their businesses covered didnt have much to lose. This is to show one of the importance of having businesses insured.

 

[Abigael]

Business insurance is truly very important. It is as important as health and auto insurance because it comes with many benefits. Most important is that your business will be secure in case of anything that tempts to bring about some bankruptcy. For example during the pandemic many people got through the high risks through insurance.

 

[Mandy96]

As a matter of fact, I can almost totally agree that business is the most important thing to insure and if not then it is probably one of the necessary things that makes a back up for your business just incase any setback happen to it. It is very wise to buy an insurance for it

 

[Chibson]

Every serious business must consider going into insurance especially if such a business is an established one. Insurance companies have saved a lot of businesses from going to extinct over the years and this is one of the best things people should be thinking of especially if they are business people.