Insurance is tricky. It’s not like buying a chair or a shirt or groceries. When you buy insurance, you’re buying a promise. It’s a promise that if something catastrophic happens to your business, your carrier is going to assist you to make your business whole again. Sometimes, though, it’s tempting to question the value of insurance because it is an intangible product.

Insurance has evolved as a process of safeguarding the interest of people from loss and uncertainty. It may be described as a social device to reduce or eliminate risk of loss to life and property.