Understanding Property–Casualty Insurance Coverage

Property–casualty insurance provides essential financial protection to individuals and businesses against losses arising from unexpected events. Property insurance safeguards physical assets such as homes, personal belongings, and business property from risks like fire, theft, vandalism, and natural disasters, with common forms including homeowners, renters, and commercial property insurance. These policies may also include liability coverage and business interruption protection. Casualty insurance, on the other hand, focuses on liability risks involving injury to others or damage to their property, with auto insurance being the most common example. Additional coverages such as errors and omissions insurance protect professionals from claims related to negligence, while umbrella policies offer extended liability protection beyond standard policy limits, ensuring broader financial security against major claims or lawsuits.
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