Tears, property lost, incessant destruction, thanks to yet another fire outbreak.

This is the script that played out Monday in Musanze District, when a commercial building was razed by raging fires, destroying property worth millions.

Many businesses were turned to ashes and owners left in tears over the course of the year especially in Kigali and in the Southern Province. Could this be the time for business owners to think ‘hard’ about insurance as a must-have?

Time is now ­– especially for reluctant small business operators – to consider insurance cover as an essential component of their business. As risks continue to rise, investors should also learn to do business in a ‘smart’ way; and protect their businesses against risks like fires, storms and burglary.

The fact that disaster strikes without notice should be the guiding principle for entrepreneurs to buy cover and safeguard businesses and property against the numerous risks they face.

Insurance cushions business owners against loss; after all, insurance compensation would be used to rebuild the destroyed businesses. However, insurers should be innovative and design tailor-made products to suit the different categories of clients so that whoever needs insurance cover can afford it.

Local and national authorities should also, now than ever before, strengthen inspection of commercial buildings, among others, to ensure they meet all the safety guidelines; and have the necessary equipment, like fire detectors and extinguishers, to help forestall or reduce destruction.

Do some of these buildings meet minimum standards? Investors have a right to do business in secure premises.

However, this problem will require everyone’s vigilance to stem it, buying insurance cover notwithstanding.