Property and Casualty Insurance – A Complete Guide

There are many insurance policies within the property and casualty insurance realm, each with its own vocabulary. This article talks about the most important types of property and casualty insurance.

Businessowners Insurance

Some small businesses buy a package policy, called a business owners policy (BOP), to cover their vehicle, liability, and property exposures.

Vehicles

The vehicle coverage is the same whether bought in a BOP or a separate commercial auto policy. The insured has the option also to purchase physical damage coverage.

Liability

Businesses usually face one or more types of liability: 1. Premises and Operations 2. Products Liability 3. vehicle 4. Professional

Property

Property insurance protects your property, including buildings and their contents. You can also purchase insurance for just the contents if you don’t own the building.

Umbrella

An umbrella policy allows you to increase the limits of liability on all your liability policies at once. An umbrella policy can provide coverage for vehicles, Prem, and products liability.

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