"You only need insurance when you need insurance" Ok, I just made that quote up, but its true. You can never really answer that question, because the people tha

"You only need insurance when you need insurance" Ok, I just made that quote up, but its true. You can never really answer that question, because the people that paid for it and never used it would say it was a waste of capital, and the people that never bought it and needed it will say you should always buy it. Insurance is, and always will be a risk calculation that only you can do. A lawyer just reminds you of a lot more bad things that can happen to you than you probably had on your list, but ultimately, you need to decide the chances of them happening to you, and how much you're willing to pay to be protected. With that said, some businesses are required to have insurance and bonds by law, but that's usually something you can easily find out by looking at a government website or Googling.