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Non Life Insurance - Why must you insure your business?
10-Jan-2003
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The earthquake that ravaged Bhuj in Gujarat and its adjoining areas has brought to the fore a number of factors and prominent among these have been the huge losses it brought to businesses which were unfortunately not insured adequately or not insured at all.

And the result - within few seconds so many lives, buildings, established businesses came down collapsing like a pack of cards. Natural calamities causing such extreme havoc is not unheard of but taking necessary precautions to safeguard ones interests under such circumstances is definitely within ones means.

A successful businessman, realising the vagaries of business cycles will always be prepared for the ups and downs and accordingly will take enough precautions to minimise his losses.

Any business is set up over a period of time and incurring such huge losses overnight could set you poorer down to the last penny you have earned. In order to avoid such situations it makes better business sense to insure ones business against every possible calamity. Be they earthquakes, fire, lightning, explosion/ implosion, riot, strike, malicious, terrorist damage, impact, aircraft damage interruption of business, burglary, machinery failure, flood, storm, tempest, subsidence, landslide, shock or any other, insurance policies offer protection against loss or damage of property/ materials to these and a lot more.

Source : insuremagic.com back