Property & Casualty Insurance
Property and Casualty (P&C) insurance covers a wide range of policies that protect individuals and businesses against financial losses resulting from damage to their property or legal liabilities. Here are some of the most common types of P&C insurance:
Homeowners Insurance
Homeowners insurance provides coverage for damages or losses to a home and its contents caused by covered perils like fire, theft, vandalism, or natural disasters. It typically includes liability protection in case someone is injured on the insured property.
Renters Insurance
Renters insurance is designed for tenants and provides coverage for personal belongings and liability in case of accidents within the rented property. It does not cover the structure itself, as that is the landlord’s responsibility.
Auto Insurance
Auto insurance protects against financial loss due to accidents involving automobiles. It usually includes coverage for property damage, bodily injury liability, medical payments, and uninsured/underinsured motorist coverage.
Commercial Property Insurance
Commercial property insurance provides coverage for businesses against losses or damage to their physical assets, such as buildings, equipment, inventory, and furniture, due to covered events like fires, theft, or storms.
Business Liability Insurance
Business liability insurance, also known as general liability insurance, covers businesses from legal claims related to bodily injury or property damage caused to third parties due to the business’s operations or products.
Professional Liability Insurance
(Errors & Omissions Insurance)
Professional liability insurance is essential for professionals like doctors, lawyers, consultants, and architects. It protects against claims of negligence, errors, or omissions that may arise from the services they provide.
Workers’ Compensation Insurance
Workers’ compensation insurance provides benefits to employees who suffer work-related injuries or illnesses. It covers medical expenses, rehabilitation costs, and lost wages during the recovery period.
Commercial Auto Insurance
Commercial auto insurance is designed for businesses that use vehicles for their operations. It covers company-owned vehicles and provides similar coverage to personal auto insurance, including liability and property damage protection.
Umbrella Insurance
Umbrella insurance provides additional liability coverage beyond the limits of other primary insurance policies. It is especially useful for high-net-worth individuals and businesses seeking extra protection against catastrophic events.
Flood Insurance
Flood insurance protects against property damage caused by flooding, which is generally not covered under standard homeowners or commercial property insurance policies.
Earthquake Insurance
Earthquake insurance provides coverage for property damage resulting from earthquakes, which is usually excluded from standard property insurance policies.
Cyber Liability Insurance
Cyber liability insurance covers financial losses and liabilities resulting from cyber-attacks, data breaches, and other cybersecurity incidents for businesses and organizations.
Remember that the specifics of each insurance policy may vary based on the insurer, coverage options, and individual circumstances. To ensure you get the right coverage, it’s essential to consult with an experienced insurance professional or agent.
