Operating without business insurance is like walking a tightrope without a safety net. If an accident occurs or a lawsuit is filed against your business, the financial repercussions can be devastating. Without insurance, you’re on the hook for all costs, including legal fees, damages, or medical bills, which can drain your business finances quickly. It can also harm your reputation, making it harder to attract clients or partners. In some cases, operating without required insurance could even be illegal, leading to fines or business closure. Besides, unexpected events like natural disasters, fires, or theft can lead to significant downtime for your business if you don’t have proper insurance. Without coverage for these interruptions, you may face lost income and ongoing expenses without any financial support.