Hi, my name is Husam Lou Mohammed with insurancemedics.com. Today’s question is, why do I need business insurance? Well, people need business insurance because of three main exposures.
The first exposure are your customers. For example, your customers can slip and fall in your place of business.
The second exposure are your employees. Your employees can get hurt on the job, or they can sue you for employment malpractice.
And the third exposure is going to be for unforeseen events, such as fires or theft.
So unless you can eliminate those exposures, you’re going to need insurance for your business.