The need for insurance has been as old as commerce itself. And to this objective, it is impossible to obtain a loan from financial institution if a property is not insured.
It proves that indeed insurance is critical especially in this age of uncertainty. Then it is important to note that we should never take a risk more than what we can afford.
Know your risk exposure and reduce if possible you exposure to major risks that can lead to big personal loss.
It is imperative for a business owners to have an insurance broker, not just a broker but a trusted advisor. Tell your insurance broker everything, treat them like as you treat your accountants and lawyers. With the help of your insurance broker go through all your policies, clauses, your entire insurance contract.
Disclaimer: This is not investment advice. All information on this site is intended for educational purposes only. We are not liable for any potential damages that may be incurred from this information. Always consult a risk management professional before insure.