Casualty Insurance Vs Property Insurance

If you have been told that you need to purchase casualty insurance, or that you need property and casualty insurance, it is important that you understand what specific type of insurance you are actually being advised to purchase. The term casualty insurance, as well as property insurance, actually applies to a broad range of different types of insurance. Here is a brief overview of what exactly is meant by property and casualty insurance, and all the forms of these two insurances that are available to you.

What Property & Casualty Insurance Really Means

As a broad definition, property insurance is insurance that protects your personal belongings, such as your home and vehicle, against all sorts of natural and manmade damages and disasters. Casualty insurance, on the other hand, provides you with …show more content…
Your personal belongings are generally covered against things like theft and fire. You are also protected against certain natural disasters as well. The exact natural disasters that are covered depend upon your particular policy. Additionally, these policies generally include liability or casualty coverage. This portion of your policy kicks into effect if someone is hurt while at your house; it will cover their medical bills as well as costs if they sue you. It will also cover you if you hurt someone else's property; your insurance will cover the replacement cost for the injured party.
Car Insurance: The second most common form of property and casualty insurance is car insurance, although the coverage is called something a little different. Most states require you to have liability coverage, which will pay for repair and hospital bills if you cause an accident and injure another driver and their vehicle. In order for your vehicle to be covered though, you need to make sure that you have comprehensive