Small-Business Insurance
As a small business owner, the last thing you want, is to take all the risk in your business when you can transfer a risk by way of insurance.
In Nigeria today, it is common for businesses in general not to get any form of insurance cover, because they do not believe they can afford the coverage, and when something happens, they cry to the state or local government for help.
Some Of The Risks Your Business Should Be Protected By Insurance.
Insurance On Your Building:
This is very important, especially if you own the building you use for business. But if the building is rented or leased, this is the responsibility of your landlord.
Insurance On Properties:
This is the most important coverage, this is insuring all personally acquired items in your building, e.g Table, Air conditions, Equipments etc… You should insure them on the risk which is most likely in your location, which could be either flood, fire or theft.
Motor Vehicle Insurance:
When you use your personal car for your business to aid movement, it is important to take this cover as not doing so may cripple your business to some extent.
Health Insurance:
This is also important because we all know health is wealth, but this totally depends on the kind of business you are into, e.g if you are into selling cloths or bags this may not be necessary.
Insurance On Employees:
In a small business it is unlikely you would have so much employees, but if you to there are different types of covers under this package you could want to use.
Not having the appropriate insurance cover for your small business, is a recipe for disaster which can permanently shut down your business. But at the end of the day, safety if your responsibility
Author: Haba Naija
Temi Odurinde is a Technology and Culture Content Creator at Haba Naija, specialising in digital trends, online culture, and the psychological impact of technology on everyday life. An oral storyteller as well as an avid follower of other aspects of arts and culture. One of the published books authored by is the collection of Yoruba folktales titled Akojopo Itandow Yoruba. With a BSc in Information Technology and Psychology, as well as a Masters in Sustainable Development, Temi brings a multidisciplinary perspective to his writing, combining technical knowledge with insights into human behaviour. His content explores how technology shapes culture, influences social interaction, and drives modern digital experiences. All articles by Temi Odurinde follow Haba Naija’s editorial standards, with a focus on accuracy, relevance, and responsible reporting.
