Are you a gambler?

If you are a business owner who chooses not to be insured, then I would say you are a gambler. You are rolling the dice - gambling with the risk that nothing will happen.

• No one will fall on your property and injure themselves
• The space you are renting will not get damaged or catch on fire
• No one will break into your business and steal anything.
• Flooding will not occur and shut your business down for a month or more
• And none of the work you performed will breakdown and/or cause injury.

I am sure you get the point now.

However, I continually see businesses like auto repair shops, IT consultants, construction workers, in-home caregivers and other home-based businesses that do not carry insurance. Many of these businesses run a huge risk of liability should they be sued. 

Not to mention the loss that the business owner will sustain should a loss occur. Without insurance then you are simply self-insured.

Now there is nothing wrong with being self-insured. Some companies can afford to do that. However, most start up companies or companies that have only been in business for a couple of years or so cannot.

Many business owners started their business because it was their dream.

So why risk your dream?

Make sure that you are protecting your business with the proper insurance policy. The benefits outweigh the cost.