Do I need to take out business insurance for an online web business

It is just me running the business as a sole trader. There are no employees, virtually no capital (except my laptop) and no physical goods. Turnover is less than $40k. Do I need to take out business insurance or can I go without it? The only reason I ask is because the bank has a business insurance question section on the business bank account application form. Thanks in advance.
      Answer1:Can I no wat business are u doing online?? even I would like to join u.. send me detail note of ur business.. my id mask2332003@yahoo.com
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