Household and Business Insurance

Similarities

• Motor Insurance Discs: Both Businesses and Households must display an Insurance Disc on their cars/vans/trucks to show they are insured.
• Principles of Insurance: The principles of Insurance apply to Insurance taken out by both Households and Businesses

Differences

• Risks: Households and Businesses have different risks. Businesses have many risks and need multiple types of Insurance. For example, they need Product Liability Insurance.
• Premiums: Businesses tend to have higher premiums as they have higher valued assets which carry a higher risk.