Jasz
VIP Contributor
Insurance is a huge expense to any business. It's not just the premiums that are expensive, but also the administrative costs of managing it. Insurance can be very useful in protecting your company from financial loss if something unexpected happens, but it needs to be used correctly.
When does insurance become useless to a business?
Here are some examples of when insurance becomes useless for different types of businesses:
1. Small businesses don't need a lot of coverage because they may not be able to afford it. If you're running a small business and have only a few employees, you probably won't need much in the way of liability insurance or commercial property insurance. You may only have one vehicle and have no need for workers compensation or public liability coverages. In this case, it may be best to rely on your homeowner's policy for protection against any losses caused by fire or theft.
2. Large corporations with lots of employees and high turnover need more coverage than small businesses do because they're more likely to suffer losses due to accidents at work or from crime (such as theft or vandalism). This is the case even if you've got good employee training programs that prevent accidents from happening in the first place (which is why large companies.
When does insurance become useless to a business?
Here are some examples of when insurance becomes useless for different types of businesses:
1. Small businesses don't need a lot of coverage because they may not be able to afford it. If you're running a small business and have only a few employees, you probably won't need much in the way of liability insurance or commercial property insurance. You may only have one vehicle and have no need for workers compensation or public liability coverages. In this case, it may be best to rely on your homeowner's policy for protection against any losses caused by fire or theft.
2. Large corporations with lots of employees and high turnover need more coverage than small businesses do because they're more likely to suffer losses due to accidents at work or from crime (such as theft or vandalism). This is the case even if you've got good employee training programs that prevent accidents from happening in the first place (which is why large companies.
