The Basics of Property and Casualty Insurance

Property insurance and casualty insurance—also known as P&C insurance—is a blanket term to describe types of coverage that help protect you and your property. This term refers to coverage for both businesses (commercial) and individuals (personal lines). This insurance can help pay costs you’re legally responsible for up to your policy limits.

Property insurance protects physical items like homes, commercial buildings, motor vehicles and other personal possessions. Casualty insurance covers losses that you may cause to another individual or business. That means property and casualty insurance covers both personal property damage and liability.
Finger on Insurance

Here are some common types of property and casualty insurance:

Auto insurance protects you and your vehicle. Drivers in most states are required to have liability coverage—and California is no different. Lenders may require specific coverage as well.

Homeowners insurance protects your home and belongings from theft or fire. Liability coverage can also protect you if you’re found legally responsible after someone is injured at your home or you cause damage to someone else’s property.
Condo insurance also protects you and your home. Similar to homeowners insurance, condo insurance extends your protection past what your condo community provides.
Renters insurance protects your belongings. Your landlord likely has an insurance policy to protect the building, but you can protect your personal property in the event of a fire, theft or vandalism.
Recreational vehicle insurance protects you and your boat, motorcycle, motorhome, ATV or snowmobile. You never know when an accident—like damage, vandalism or bodily injury—could happen during your adventures, so insurance can provide you some peace of mind.
Business insurance protects your business assets so that you can focus on day-to-day operations. Instead of worrying about potential risks, you can turn your attention to customer service and business results.

You’ll notice that the majority of coverage policies include both property and casualty. So, what’s not included in P&C? Health insurance and life insurance aren’t included in that umbrella term. Those types of insurance cover the costs of you as a person—not physical property or liability.

The purpose of insurance is to help you prepare for incidents so you aren’t stuck with a huge bill as a result. Property and casualty insurance can help you and your family in the event of an unforeseen accident on your property or in your home or business. Call Mitchell Insurance Services at 559-713-1315, and we can help you find the right amount of coverage.

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