Diversify your assets. Don't invest everything you have in a single asset. Strive for more passive income and diversify your assets, which is what you really need to do. Insuring your assets and businesses is a logical move. Because in the event of an unexpected loss or damage, insurance can ease the financial burden and save you from a major loss.
For example, if there is a fire at your workplace or a valuable item is stolen, you can compensate for some of your loss with insurance. There is always risk, so I think this type of protection is very important.
Insuring assets or businesses that are being run is indeed a must to minimize risks such as buildings or other valuables.
However, whatever it is, I strongly agree with asset diversification in several things, especially for things that we master because no one knows in the future the assets or businesses that we run will decline so to secure our assets we must spread them to several types of businesses or investments but that is only for those who already have a lot of assets or money.