Why buy good guns for merchant ships?

Did the East India Company spend on good naval guns even though they were expensive?

Yes. It did not necessarily buy the largest guns, but it valued reliable weapons as protection for its ships and cargo.

East India Company ships needed dependable weapons when a convoy had to defend itself. Their owners did not always buy the biggest guns, but they wanted good-quality ones. Guns were treated as practical insurance because they could help prevent the loss of the ship and cargo. This made economy in weapon quality a poor bargain even for a commercially operated vessel.