Safety is a number one prioroty and has never been an issue. We have a 100% track record.
2006-08-02 03:09:07 · 7 answers · asked by Anonymous in Business & Finance ➔ Insurance
It depends on if you have any assets you can lose! I would NEVER self insure an adventure tour - in case of an accident, you'd go broke just hiring the laywer to defend you.
2006-08-03 01:51:40 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
I would get insurance. The fact that you have never had an issue and 100% safety will go into the actuarials calculation of how much you should be charged.
You don't want a profitable business destroyed because one little hiccup combined with a greedy person trying to take advantage of a situation.
2006-08-02 10:14:03 · answer #2 · answered by Mikey S 2 · 0⤊ 0⤋
Slef-insuring is a bad idea most of the time for any reason. How much capital do you have lying around, just waiting for some schmuck to sue you for? You pay a little bit (or a lot) to an insurance company and when something bad happens, they make the pay-out ... not you. Your choice.
2006-08-02 10:13:44 · answer #3 · answered by kc_warpaint 5 · 0⤊ 0⤋
Think of the WORST thing that could happen to you, or to one of your customers or one of your suppliers. Could you afford to handle that expense even if it has a low probability of occurring?
Could you afford to lose your entire business (and maybe more) because you were sued and did not have insurance coverage?
Talk to an insurance agent about high deductible plans or other ways of limiting your insurance premiums.
Talk to a lawyer about protecting your personal assets from a lawsuit.
2006-08-02 11:14:18 · answer #4 · answered by insuranceguytx 5 · 0⤊ 0⤋
If you have never had an incident it is hard to predict if it is worth it or not. How much, on average, would a major incident cost? How frequently? Do the math and see if it makes sense.
As it stands right now, one incident could wipe you out. And if you happened to have two in a short amount of time, you would be really screwed. Don't risk your entire business to a bought of bad luck, be smart.
2006-08-02 10:15:08 · answer #5 · answered by Christopher 4 · 0⤊ 0⤋
If you have unlimited funds to defend yourself or pay any judgments
Or If you have no assets to lose, then self insurance is the way to go.
Considering the nature of your business, I would imagine getting insurance is difficult and expensive.
2006-08-02 13:47:14 · answer #6 · answered by C R 3 · 0⤊ 0⤋
That depends on how much you can afford to get sued for and pay out....
2006-08-02 10:12:21 · answer #7 · answered by ceprn 6 · 0⤊ 0⤋