Photo AI
Describe the types of insurance appropriate to the context described above. - Leaving Cert Business - Question B - 2007
Question B
Describe the types of insurance appropriate to the context described above.
Worked Solution & Example Answer:Describe the types of insurance appropriate to the context described above. - Leaving Cert Business - Question B - 2007
Step 1
Motor insurance
Answer
Given that McGComputers operates five service vehicles on the road, it is essential to have motor insurance. This type of insurance covers any damages or liabilities that may arise from using vehicles for business purposes, ensuring protection against accidents and unforeseen circumstances on public roads.
Step 2
Property insurance
Answer
As McGComputers operates from a premises on the main street, property insurance is vital. This insurance protects the physical location, which includes equipment and inventory, from risks such as fire, theft, or other potential damages, ensuring business continuity.
Step 3
Step 4
Step 5
Public liability
Answer
Since McGComputers hosts product demonstrations and presentations on its premises, public liability insurance is crucial. This type of insurance protects against claims made by customers or the public due to accidents or injuries that occur in relation to the business activities.