22. Imagine that you have a friend, Pat, and Pat works during the summers for a

Question

22. Imagine that you have a friend, Pat, and Pat works during the summers for a small construction company framing homes. The construction company buys materials and brings those materials and the workers tools to the construction sites. Pat asks you what type of insurance this company should have in order to help protect its tools against theft at the worksite, not at the company's business location. a. Business liability insurance b. Business real property insurance C. Business personal property insurance d. Inland marine insurance e. Ocean marine insurance

Explanation / Answer

The answer is C

Business personal property insurance, If office equipment, computers, inventory or tools etc are present then it is better to purchase a policy that will protect you if you have a fire, vandalism, theft, smoke damage etc. You may also want to consider business interruption/loss of earning insurance as part of the policy to protect your earnings if the business is unable to operate.

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