Insurance for Businesses: Uses & Importance

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

If you are an employer and are concerned about your employees possibly suing you because of being unable to pay their bills because of being out due to a work-related injury, which type of insurance would be the best choice?

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1. What is product liability?

2. If a business is in fear of being vandalized, which type of insurance should be used?

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About This Quiz & Worksheet

These interesting, interactive tools will test your knowledge of business insurance. To pass the quiz, you should know about insurance that covers work-related injuries and a type of insurance that helps protect against physical damage.

Quiz & Worksheet Goals

In these assessments, you'll be tested on your understanding of:

  • Definition of product liability
  • Basic business insurance
  • Insurance that protects against work-related injuries
  • Reason why legal liability insurance is a good financial decision
  • Type of insurance that protects against physical damage

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related lesson on business insurance
  • Defining key concepts - ensure that you can accurately define main phrases, such as product liability
  • Critical thinking - apply relevant concepts to examine information about why it's financially smart to obtain legal liability insurance

Additional Learning

If you are interested in learning more about business insurance, this lesson titled Insurance for Businesses: Uses & Importance is for you. The lesson focuses on the following objectives:

  • Learn about the purpose of having business insurance
  • Review examples of insurance that protects the property
  • Identify the differences between liability, general liability and product liability insurance
  • Explore the need and benefits of getting insurance that protects injured employees
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