What Is Property and Casualty Insurance?

What Is Property and Casualty Insurance?

At InsureTN, we offer a few different types of property and casualty insurance policies. But what does that mean? Simply put, property and casualty insurance is coverage for objects that you own. This can be broken down into several categories – car insurance, homeowner’s insurance, renter’s insurance, business insurance, etc. All of those categories can be broken down further with boat or ATV insurance, cybersecurity insurance,  jewelry insurance, etc. Property and casualty insurance encompasses insurance that is not health care.

Property

The property portion of property and casualty plans is simple: it provides coverage if your property (anything you own) is stolen, damaged, or destroyed. This can mean a few different things. You can be given the cash value of an object if it is destroyed, you can be reimbursed for replacing the object, or you can be given the cash value of a loss of income due to either a financial or environmental disaster.

Casualty

The casualty portion of property and casualty plans is a bit more complicated. It includes coverage like liability and negligence. You will most often hear about casualty policies in reference to car insurance, as in an accident somebody is usually liable and someone is likely negligent. Casualty coverage includes more legal complications than property coverage does.

What Do I Need?

Whether you’re purchasing car insurance, homeowner’s insurance, or something else entirely, you’re going to want coverage on both the property and casualty sides. An InsureTN agent can help you access quotes and get the best policy for your needs. Call InsureTN today at 615-964-5250.


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