Do you think business insurance a waste of money?

[Heatman]

There are so many businesses in my country that their owner don't care about having it insured. I was discussing with an entrepreneur last weekend and he mentioned that paying for business insurance doesn't make any sense for him. I tried making him to understand the risks for not having his business insured but he's not interested. 

What do you think about this kind of decision?

[Shortie]

I feel that if you have a business you should ensure that it is insured just in case anything bad happens.

You never know what is down the line or what you could end up having to deal with and without insurance, it could land you in a huge mess with no way of being able to afford to get back on track.

Insurance for your business I would say is just as important as car insurance and even home insurance.

[Dismal_Bliss]

No, it's not a waste of money. I'm in construction, and around here, having a General Liability Policy is a requirement especially if you work on commercial projects.

This is one of those things that you may never ever have to use your entire life, but if you did and you didn't have it you would be in a world of hurt.

[freelancermaria]

In my honest opinion, it is not a waste of money. Having business insurance can assist you avoid losing all of your money. It can be useful in the event of a fire or interference of business, and much more. In addition, some business industries require insurance.

[Jenifer]

No, I don't think business insurance is a waste of money. It provides crucial protection against unexpected events like property damage, liability claims, and business interruptions. For example, when a burst pipe caused water damage in my office, insurance covered the repairs and replacements. The peace of mind and financial security it offers are well worth the investment.

[Henrywrites]

There are a lot of profits in getting a business insurance and what matters is ensuring that you do so the right way. I don't see it as a waste of money at all.