Let's Talk About It With Jenny /Why We Don't Think we Need Insurance, pt. 2

Seven reasons why insurance is important: 1) Lenders require that you have insurance before you buy or build a new building; 2) You need insurance for your business to keep going or you won't be able to get the funding to evolve and better compete; 3) Because it's the law; 4) Insurance grants peace of mind; 4) It ensures family and business stability; 5) Insurance protects the small guys; 5) When you look at your industry, you see the big guys will be able to survive. They can take a hit, but the little guys can't take a hit. As a result, they are more risk averse and in some cases, they sell out to the big guys. That insurance helps prevent monopolies from forming; 7) Insurance is the right thing to do, and provides a safety net for the owners.