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.
Is it a must to insure your business against fire?
- Thread starter Starmix
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- #5
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.
Yeah it is a big yes to insure your business to be able to fight any eventualities of life.
More like insuring anything that is insurable. it will help the insurer in the future
But it is s necessity that businesses need to employ to keep their business secured
Well some are but might not still have enough money to carry it out. But insurance for a business is needed
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- #16
Yes you're so right, no loan approval if the collateral isn't insured like building.
Yes they make sure our property is safe and they check and verify all legal docs before allowing us the loan
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- #18
Correct, my father applied a bank loan before and it's our property used as a collateral and was checked if insured.
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- #20
Yes true it's happening the same anywhere in the world.
