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.