Sourced from: http://understandinsurance.com.au/types-of-insurance/business-insurance
In some cases some kind of insurance are a legal requirement. It is good for a business owner to be prepared incase of a disaster,the insurance can refund all the sales lost due to the disaster.
Even if you have a successful business, disaster could strike at any moment and force you to shut your doors.
Sourced from: http://smallbusiness.chron.com/business-insurance-important-2948.html