Without appropriate business insurance and personal insurance you could lose not only your business but even your personal assets, including your house. Imagine the impact on health & physical well being due to the stress you could experience if you are sued and don't have insurance to protect you.
You may think your risks are low and the financial penalty of a mistake might be minor, but for a relatively small spend, you can obtain protection of $5, $10 or even $20 million! Even if you weren’t at fault, the potential costs of engaging your own legal representation to defend your business can be crippling.