Why my Business need Insurance before 2019

Published by kelvin Ehiozefe on

Considering the risk involved in running a business in our world today, you will agree that the need to have an insurance policy becomes so crucial to the success of your business. But however, it’s so alarming to discover that many business owners still don’t see the need to have one.

Some say it’s a waste of investment funds while others fault insurance companies for not being able to meet up with their demands. Now you might want to ask is insurance really important?


Why my Business need Insurance
Just as you desire to remain in business for a very long time, having an insurance policy is a sure path to achieving these goals, it’s like keeping a backup battery for that brick phone. Today many businesses around the world go through a lot of fierce competition, random economic swings, and strict government regulations. Besides that, unexpected disasters can hit a potentially successful business.

Considering the following examples:

• Fire at a dry-cleaner shop. No insurance to pay for customer goods.

• A roof collapse at a toy store one month before Christmas. No insurance to re-open.

Definitely, you somewhat might agree with me now on having an insurance policy for your business. Not having one is like preparing to shut down at the face of any business challenge. Having Insurance can guarantee loss prevention which means protecting your assets with practical safeguards. That would include some but not limited to the following:

 • Replacement of business vehicle

 • Better office door locks

 • Training employees

 • Construction of fire and earthquake-proof building.

If you consider the above listed and many other benefits of having an insurance policy, insurance becomes non-negotiable for any kind of business you manage now.

To get a better understanding on the importance of insurance and best coverage for your business you should read this;  

“Understanding insurance coverage for your business”. 

Consistently studies have shown us the unfortunate fact that many business owners and even consumer don’t really understand their own insurance.  Further, they’re not really aware of the many different options they have for protection.

Perhaps the industry is to be faulted.  Some say insurance policies are too difficult to comprehend and insurance agents often speak in their own language.  And don’t spend enough time educating their client’s on the important area of their insurance.

While some business owners and consumers are often left with these nagging doubts; Are there gaps in the coverage? Do we have enough protection?  Are we not paying too much?  Will our claims get paid?

But if you spend some time reading “Understanding insurance coverage for your business” you will not find any trouble getting the best coverage for your business. In the words of Mike Murdock a prolific motivational writer—“Every Radical Change Is One Decision Away”. 

if you enjoyed this post, I encourage you to share it with friends on social media and office colleagues. Don’t forget we also enjoy your feedback.


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