Is it a must to insure your business against fire?

[Hate2Wait]

One of my colleagues likes to get a loan all the time so he likes to complete all these formalities to get loan lol

 

[Starmix]

One of my colleagues likes to get a loan all the time so he likes to complete all these formalities to get loan lol

There are many requirements like co- makers or witnesses.

 

[Hate2Wait]

Yes they do but if you have your documents completed once then you are good to get a loan anytime

 

[Starmix]

That's right and payment follows monthly hehehe.

 

[Hate2Wait]

Many people have this habit and they keep looking for loan all the time but its not a good habit

 

[cherry123]

The need to insure a business can't be overemphasized you need to protect your business against all odds.

 

[Magnus2022]

It is not mandatory but necessary. It is more important if you are dealing with volatile and flammable commodities. Secondly, if your business is situated at countries that are senseless and corrupt inclined, it is far better option to insure your business because such government will not come to your aid. Many business owners that neglected to insured their investment live to regret it.

 

[Hate2Wait]

It'll help but many people don't do this to save a small amount of money but ideally they should have gone for insurance.

 

[Enxx]

It is not a must to insure a company for fire accident. But it is very important because no one knows what will happen later.

 

[cherry123]

It is not a must to insure a company for fire accident. But it is very important because no one knows what will happen later.

Yeah the emphasis should be on the needs of importance of it as the benefits are huge

 

[freelancermaria]

Fire does more than merely wipe off material possessions. If consumers or other third parties sustain destruction of property, you could be held responsible. As an added bonus, it can cause your company to come to a complete standstill. As a result, you should think about getting a fire insurance plan.

 

[cherry123]

Fire outbreak in a company can be very devastating so there should be a protection against such

 

[Hate2Wait]

It is not a must to insure a company for fire accident. But it is very important because no one knows what will happen later.

For a big business they should insure it and It will only gonna help them feel secured and in case they need loan they will only get if its an insured property

 

[cherry123]

Yeah I think some loan companies asked for this insurance certificate but it is good to insure ones business

 

[Hate2Wait]

I believe all companies or banks will ask for it as they will mortgage the property so they want it to be safe and insured

 

[cherry123]

That's one of the essence of having the insurance certificate it will help with easier mortgage getting

 

[Hate2Wait]

I think my workplace is all insured because my boss is so knowledgable in these things

 

[Starmix]

I think my workplace is all insured because my boss is so knowledgable in these things

All establishments are required to ensure the property. It protects income, if not they face a total loss of profit.

 

[Hate2Wait]

All establishments are required to ensure the property. It protects income, if not they face a total loss of profit.

Yes its important and I think factories act have this thing in their rules too

 

[Starmix]

That is true, no factories are allowed to operate without it getting insured. It's hazardous.