No Insurance...
Insurance is a common concept that majority have an idea about, it's one of the aids to trade and it makes life a bit easier helping people reduce their risk.
But for those not familiar with the term, I have dropped a definition below just in case:
Insurance is a contract between an individual or business with an insurance company to help provide financial protection and mitigate the risks associated with certain situations or events. There are various types of insurance available, including health, dental and vision, life, auto, and legal insurance. Link
The truth is insurance is important for a business venture and it is important for life too. It makes you comfortable and relaxed about your endeavors because if any risk occurs, you have confidence of being indemnified.
But I think the major concern of people is the premium. A lot of folks think it is a waste of time paying premium, and they'll say; "what if nothing happens, that means they've been paying premium in vain".
I guess it is about the peace of mind, and being able to secure your investment that matters to consider insurance.
So, those that say no insurance are those not willing to secure their property but choose to bear the risk alone.
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