Many people hear the terms “Property and Casualty” in media and commercials but know little about them. In a few words, property and casualty insurance are types of coverages that protect the stuff you own-stuff such as your home or your car. What’s also neat about these coverages is that you are also able to get liability for yourself. This will help protect you if you’re the one responsible for property damage or injuries to others. Continue reading to learn specific examples of insurance policies that can get you and your property covered.
If You Have….
Your home and belongings are protected against outside threats such as theft or fire. It usually includes liability which helps protect you in a situation where you’re at fault for someone’s injury or property damage.
You and your vehicle are protected and there are several types of protection for this as well. In most states, drivers are required by law to have liability coverage. Other coverages include comprehensive and collision which might be required by your lender.
Comprehensive covers damages to your car that aren’t caused by a collision. It basically covers anything that ranges from:
- natural disasters
- civil disturbance (riots, protests)
- damage by an animal
Collision covers repair or replacement of your car regardless of fault. This could be collision with another vehicle or stationary object such as a tree, building or telephone pole.
Your personal property such as your furniture, cloths, electronics and more are protected.Renters may also help pay for increased living expenses. This may happen if you have to temporarily relocate because of a covered loss that’s caused your home to become uninhabitable.
Your property generating rental income is protected. It protects the building you own from certain external threats such as hail or fire. Liability insurance is usually offered which will cover you in case somebody sues you following an incident on your property.
The interior of your unit is protected against any interior structural damage (interior walls, appliances,personal property and valuables…). Any exterior structural damages are covered by your condo association and must be covered under the condo association’s policy.
Power Sports Insurance
Your sports vehicles such as boats, golf carts, all-terrain vehicles and snow mobiles are protected. This type of insurance protects your sports vehicle if stolen or damaged. You may also get liability just in case you damage another’s sports vehicle or injure someone with it.
We from Uniamerica hope that you’ve learned the quick base facts on some of the coverages included in Property and Casualty Insurance.
If you’re interested in getting a quote for either of these policies, visit our website and contact us either by phone, email or in person!