International Baccalaureate (IB) Practice Exam

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Study International Baccalaureate Exams with tailored multiple choice quizzes and flashcards. Gain confidence with explanations and hints for every question. Ace your exams!

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What type of insurance helps in case of damage to your business property?

Commercial auto insurance
Property insurance
General liability insurance
Workers' compensation insurance

The correct answer is: Property insurance

Property insurance is specifically designed to protect business properties from various forms of damage, including those caused by fire, theft, vandalism, and natural disasters. This insurance provides financial coverage to repair or replace physical assets such as buildings, equipment, and inventory, ensuring that the business can recover quickly from unforeseen incidents that can disrupt its operations. Commercial auto insurance primarily protects vehicles used for business purposes, while general liability insurance safeguards against claims of bodily injury or property damage caused by the business to third parties. Workers' compensation insurance, on the other hand, covers medical expenses and lost wages for employees who get injured on the job. These options do not offer direct protection for the physical property of a business, which is why property insurance is the relevant choice for addressing damage to business property.