Well, the answer to this question should be a simple “Yes” but i’ll try to give specific arguments. Insurance is a necessity in any business. Your accountant will probably advise you to get a business insurance. Businesses cover themselves against losses such as fire, theft and unexpected natural disasters. It is with the bookkeeping or accounting that owners get it wrong. On successful insurance claims, a payment is normally made to the insured. Insurance companies settle claims on assets, on its book value and not its costs. Even though this principle might vary from country to country, book value is widely accepted as default. Since most small businesses fail to maintain proper fixed assets registers, insurance companies perform “desk top valuations”, or make an “estimate”, on the book value, mostly much lower than its “real” book value. Without proper records, the claimant cannot debunk the assessor’s final conclusions. An insurance claim, wrongly entered as “income”, can be adjusted by transferring the amount to the disposal account. After effecting these entries, the disposal account should balance to zero. Your new records would reveal, the loss or profit on claim (income statement), settlement in bank account, fixed assets less the stolen/lost asset, and a lower depreciation estimate for the year. I know that this is your business accountant’s job, you however have a duty to provide accurate records. Also, if you’ve got a charity accountant and you are take part in charity missions, you should include those records too.

So, if you care about your business, get a business insurance for it because it will help a lot.

     Our homes are probably the most important things in our lives, each one of us wants to buy a house or an apartment sooner or later in his life, but have you ever asked what would happen if you would loose your house? If you don’t want to worry too much when you’re asking this question than you should start thinking at home insurance.

    Home insurance protects your house for burglary, fire or natural disasters, and if something happens and you aren’t insured you’ll loose a lot of money.  If you’re going to buy a home insurance plan you should definetely pick the one that covers the whole building and you could completely rebuild your home. In case of a natural disaster that would damage too much your house and you can only rebuild it, this would definetely help you.

    Also, your home insurance plan should cover these: subsidence, flood and storm damage, burst pipes, vandalism and fire or explosion. If you’ll buy a full home insurance plan you could also benefit covers on permanent fixtures and fittings like: baths, toilets or kitchens. In the same package you could also have electronic goods insurance, clothing insurance or furninture insurance. The insurance for your house goods is called home content insurance. This may also cover items removed from your home, such as bicycles.

So, when you want to insure your house, you have to know that there are many home insurance plans but if you really want everything protected than you should buy a full option home insurance. That would prove the best deal in case of anything happens.