What is Business Insurance?
Business insurance is not a name of insurance policy but it is bunch of various policies which are essential for any business. These various insurances protects the businesses from losses due to events that occur during the course of business. There are many types of risk that any business houses are exposed to. For example Property Damages from natural calamity or employee or factory accidents, a law suit for the product they sell or the risk of debtors. These risks can ruin the business and should be transferred to insurance company.
Types of Business Insurance.▶ Fire Insurancen
Who should buy this?
These insurances are essential for any business houses. Generally it is seen that the business owners are ignorant for these insurances. They buy insurance for sheer formality or because of bank pressure. They ignore the fact that the risk which they are taking is very high and can ruin their businesses in minutes. It is also seen that the business owners leave this to their employees without looking at the benefits offered by the particular policy. All Insurance houses must take expert advise to mitigate the risk they are facing.