Property and Casualty Insurance

Property casualty insurance is a policy that protects a person's most expensive and cherished assets. Property and casualty insurance can be attached to homes, property, cars, and businesses. Property insurance typically refers to a protection plan purchased by a person or a business with an interest in physical property. The business or individual will purchase an insurance policy to protect against a financial loss incurred from damage of the property.

In essence, an individual or business will purchase an insurance policy to financially protect them against damages inflicted to their home or property. If their assets gets damaged or destroyed the money associated with fixing such a drastic problem is exorbitant.

Therefore, an individual will purchase a property casualty insurance plan so that if damages or loss of property does occur, their asset will be recouped through the insurance company. Not only does the insurance policy protect the individual against damages, but it also protects their largest asset and their largest source of income in the future.

In contrast, a casualty insurance policy primarily protects a person or business against legal liability for damages or losses caused by injury on the individuals’ property to other people. In other words, if a person or friend gets badly injured on your property, a casualty insurance plan will protect your legal liability against any medical damages or lawsuits.


There are two separate property and casualty insurance packages a person can purchase: personal lines and commercial lines. Within these two categories are numerous subcategories. For instance, a farm, financial institutions, employment-related practices liability, crime and fidelity, and workers compensation are all examples of business related insurance policies. While automobile, a dwelling property, and personal liability are examples of personal insurance property and casualty policies.

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