Insurance policies that cover many different things like automobiles or condo insurance are called Property & Casualty (P&C) insurance policies. Some other types of insurance like life or health insurance do not belong to this group. Property insurance, as the name suggest, will cover material possessions and valuables. Casualty insurance policy, on the other hand, has to do with liability, and will cover certain legal fees. Although they are not the same, many agencies will offer these two policies in a bundle.
- Property and Causality Insurance covers physical items and your liabilities
- P&C Insurance should cover the at least the value of your belonging
- Not enough P&C Insurance means you can end up paying money
“The type of insurance that protects you and your assets is called property and casualty insurance.”