Business insurance - a necessity or luxury?

[Terry]

I recently watched some business news and heard that because of the crisis many companies refuse to acquire business insurances just because it's not cheap to afford it. How do you think, are these insurances so necessary for a company? What types of insurances does a company need in order to work freely? Plus, insurance requires carefulness in choosing the insurance company, which is not easy at all. Should I understand that a richer company means more confidence?

[Nathan]

Hi, just came across this:
Insurance might not be the first thing someone thinks about when starting a new business, but it should be an important consideration when planning a business.

New business owners become risk managers. They have the task of determining the exposures they have to different kinds of risks and deciding how best to handle the risk involved. Insurance is a way to address the exposure by letting someone else be at risk in case of a loss. You are transferring that risk to the insurance company.

The decision to purchase insurance can be a tough one because many new businesses are on a tight budget. The business owner must make decisions regarding what he or she can take a risk on and what to pass on to the insurance company.

When just starting out, the business owner might decide to take more of a risk in certain areas than others. An example would be a business owner who insures a company truck but takes a chance on tools and equipment until the owner can afford to insure them. I hope it will help you.
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[Riser]

Business insurance is a broad description that can be broken down into a list of nine types of insurance policies and here I will briefly explain the coverage and expand on these as individual topics.
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[Benn]

I think it is a necessity, especially nowadays when a new started business can fail in a month. So, to prevent this or at least to receive money if sth happens, you should make the insurance.

[Riser]

it is necessary to secure your business! taking into consideration all economic, ecological and human social insurance nowadays has become a necessity in the past that can be considered a luxury,not only because of the bankruptcy, said ,but as well as for a positive position on the financial market and in front of investors

[Steven]

it is necessary to secure your business! taking into consideration all economic, ecological and human social insurance nowadays has become a necessity in the past that can be considered a luxury,not only because of the bankruptcy, said ,but as well as for a positive position on the financial market and in front of investors

insurance of this order long ago should not have to be a luxury! sometimes luxury become a necessity! I think many have already convis it on their skin!
so is a necessity and riser explained why uper

[Benn]

if to analize businessmen's words, in the crisis periode, is a luxury cause is to expensive :? so they must pray for the health of theirs labour :ange

[decklinbrain]

if to analize businessmen's words, in the crisis periode, is a luxury cause is to expensive :? so they must pray for the health of theirs labour :ange

When times get tough, what's the first thing you drop from your budget?
Once you've knocked out the usual suspects, such as morning coffees, impulse magazine purchases, that third Doobie Brothers greatest hits CD, chances are you'll start looking at your insurance policies. "What are the chances?" you'll think. It's money for nothing, you might imagine.
Well, banish those thoughts. "There are two aspects to wealth creation: creating wealth and protecting it," says Moneymax's Liz Koh, a leading financial planner. "You have to do both."

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