Video from our FREE Online Business Course http://www.myownbusiness.org Session 6 - Business Insurance
Question: "Should a person start-up business save money by Being Self-Insured property and liability insurance is?"
Kelly Davis Insurance Agent
Topics Covered in this video: Business Insurance, Self-Insuring
Transcript: Would Be the easy answer: absolutely not! There Is Just Too Much to Lose and Can Be it lost in a second. Think about Katrina. In a Blink of an Eye everything was gone for People: restaurants, office buildings, you name it. And Some of Them Did not Have insurance gold They Did not Even Have Flood Insurance Which Is A Kind of crazy if you're in a gulf area. But a lot of people Did not Have It. I have a buddy from college and history WAS flooded house up to eight feet and he Did not Have flood insurance. So he Probably Thought That He Was invincible. We all do In Some respects to insurance Is The cheapest way to insure your future and your livelihood.
It's just that simple. How do you self-insure for a million dollar loss? Somebody could "slip and fall was banana peel That you left on the Floor in your smoothie business And They May Need Hip Surgery - and where are you going to get the money? It Might cost you $ 500 for a business owner's policy or up to a $ 1000 or more DEPENDING ON How Much equipment you have. You Just Can not Afford to self-insure.
