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Explain two types of insurance that InsuranceDepot.com might sell to its customers - Leaving Cert Business - Question A - 2015
Question A
Explain two types of insurance that InsuranceDepot.com might sell to its customers. To the public: 1. Motor Insurance – statutory insurance for all motor vehicles. ... show full transcript
Worked Solution & Example Answer:Explain two types of insurance that InsuranceDepot.com might sell to its customers - Leaving Cert Business - Question A - 2015
Step 1
Explain two types of insurance that InsuranceDepot.com might sell to its customers.
Answer
To the Public
- Motor Insurance:
- This is a statutory insurance requirement for all motor vehicles. It covers damages caused to other parties (third party cover) and also damages to the insured vehicle itself (comprehensive cover).
- Health Insurance:
- This type of insurance covers costs associated with medical care, including hospital visits and treatments, offering financial protection to policyholders during health-related incidents.
To Other Businesses
- Public Liability Insurance:
- This insurance is essential for businesses as it provides coverage for claims made by members of the public due to accidents that occur on the business premises or as a result of business operations.
- Employers' Liability Insurance:
- It protects businesses against claims made by employees who suffer injuries while on the job or while using the employer's facilities. This type of insurance is typically required by law.