If the COVID- 19 pandemic has severely impacted your business, you may consider cancelling your business insurance to cope with the expenses. However, business insurance provides you with a lot of benefits, whether your business is open or closed.
Cancelling your business insurance may seem to be a cost-effective option, but you need to understand the risks before moving ahead.
Risks of Cancelling Business Insurance
By cancelling your business insurance, you expose yourself to certain risks, which include:
You will have some losses when you cancel your business insurance […]