A bad debt doesn’t just hit the bottom line. It affects how you progress. You may be able to absorb the debt and shrug it off.
But think ahead. What will it mean to your business?  Taking more risk to get back what you’ve lost, delay planned investment, reduce planned expansion,  or just leave you with a sleepless night thinking “what if it was a big customer that had gone bust”?
The one area of the business without any insurance support if it goes wrong, is the credit control and finance department. 
Remember, it’s your money. Would you prefer to have it in your bank or your customers insolvency?