Insuring your SME should be absolutely essential – but I know from my own experience – it was the first thing to go when my business hit the skids. The cost of business insurance is a pain in the butt, unfortunately its one of those things you also don’t realise you need, until you need it!

Look around your premises – a big chunk of one of my businesses is run off 2 laptops and a PC. If those 2 laptops or the PC were to grow legs and walk off, I would be seriously out of pocket and the time I would lose trying to get up and running would put a huge dent in my cash flow. 

Power strikes and electric surges have cost me a few bucks already this year. A stolen cellphone – cost me time and money. How many of your small businesses operate from home? What would be the implication if the geyser burst over your office and your recently acquired equipment? You would take some serious pain. I just had to have a geyser replaced at home – if it hadn’t been for the insurance which we have religiously paid each month for the last 3 years, we would have been stuck with R7000 bill – a lot of people’s cash flow couldn’t absorb that kind of hit and credit ain’t so easy to pick up these days…

I hate insurers as much as you do but they are a necessary EVIL. Rather give yourself a bit of peace of mind so you can focus on running your business, rather than being caught up by an accident.