Insuring businesses and properties
Question:-
Are we as Muslims permitted to insure our businesses and properties?
Answer:-
All forms of insurance are Haraam due to them containing the element of gambling and interest. We therefore do not approve of any form of insurance. Rasulullah Salallahu Alaihi Wasallam is reported to have said, “Protect your wealth through Zakaat.” [Tabrani] By ensuring that our Zakaat is paid as required in Shariah, our wealth will be protected by Almighty Allah. Similarly, we should discharge Sadaqah which is extremely beneficial in calming the anger of Allah Ta’ala. Rasulullah Salallahu Alaihi Wasallam is reported to have said, “Sadaqah discharged secretly extinguishes the anger of Allah Ta’ala.” [Tabrani] Thirdly, the recitation of Ayaatul Kursi after every Salaah and before retiring to bed, is a means of one’s security.
We should understand that the calamities and catastrophes that affect us are primarily due to our disobedience to Allah Ta’ala. These difficulties serve as a wake-up call or as a reminder for us to repent and mend our ways. We should all therefore repent for our sins as the Quraan states, “Collectively repent to Allah, O you Mu’mineen, so that you may succeed.” [Re:- Surah Noor, Verse 31]
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