Is it a must to insure your business against fire?

Starmix

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Yes, it is a must to protect your property against complete losses should you not insure your business. It is called Fire Insurance and you will pay yearly to renew your business protection. You will be given pricing according to how much millions would you want your business to be covered for the entire year. One month before the due date, it must be made sure your business is already renewed. You can also insure your self against accidents. Just ask for a quotation from the insuring company of you preference.
 
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Starmix

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You are so right, it is also among the requirements when seeking a business permit. There are fewer worries if a business is insured.
 

Bisolami

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Yes, it is a must to protect your property against complete losses should you not insure your business. It is called Fire Insurance and you will pay yearly to renew your business protection. You will be given pricing according to how much millions would you want your business to be covered for the entire year. One month before the due date, it must be made sure your business is already renewed. You can also insure your self against accidents. Just ask for a quotation from the insuring company of you preference.
It is not a must to do so but it is very advisable to do so because we don't know what may happen in the business next. In general, insurance is good
 

Starmix

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It is not a must to do so but it is very advisable to do so because we don't know what may happen in the business next. In general, insurance is good
It is a must to ensure our properties are against fire . We pay only once a year at a minimal price. The school where I once studied was gotten by fire and it was insured for 180 million with a yearly premium of 26, 000 pesos only. And if it is not insured gone will be the capital forever.
 

Hate2Wait

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It's better to get our business insured from fire and many times when we are taking loan on our business/ property they first check this thing and then allow loan
 

Starmix

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It's better to get our business insured from fire and many times when we are taking loan on our business/ property they first check this thing and then allow loan
Yes you're so right, no loan approval if the collateral isn't insured like building.
 

Hate2Wait

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These days these things are used to know if the property is safe like in case of personal loan they ask for income tax return of past 3 years
 
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