To buy insurance or not is often a question we as consumers must face and act upon. When talking about cars and our homes, there’s no question about it, you need insurance. At the very least, a third-party insurance would be required for cars, in case you hit somebody or something.
The question is, when you’re buying technology gadgets, will you need insurance? A laptop insurance might run you 20% of what the laptop cost you, so it’s not just pennies you’re paying for the insurance. Then there’s all the “care” warranties that you can buy, which is not really insurances, but only extends your warranties. It’s hard to know for sure if they’re worth it in the end, no matter if they are “care” warranties or real insurances. It depends on your wallet, if you can afford to run the risk of not having insurance on your goods – or if you plan on using only your stuff in the comfort of your own home, making chances of something bad happening even smaller.
While on the subject about business insurance, I think some other “rules” may apply when you decide if you want insurance or not for your business. I don’t personally have a business (other than this blog, which I don’t really consider a business), but if you have – or you’re thinking about launching – a business as your bread-and-butter, an insurance might be a very, very good idea. Of course if you’re dealing with something where the health of customers could be on the line, you must have insurance to prepare for the unexpected.