What Is Property/Casualty Insurance?

Property/casualty insurance is insurance on homes, cars, and businesses. Technically, property insurance protects a person or business with an interest in physical property against its loss or the loss of its income-producing abilities. Casualty insurance mainly protects a person or business against legal liability for losses caused by injury to other people or damage to the property of others.

Insurance companies write the following lines of property/casualty insurance:

Commercial Lines

• automobile
• businessowners (property and liability combined for smaller commercial customers)
• capital assets (output policy)
• crime and fidelity
• electronic commerce
• employment-related practices liability
• equipment breakdown (formerly boiler and machinery)
• farm
• financial institutions
• general liability
• inland marine (diverse commercial goods and properties)
• management protection
• market segments
• medical-professional liability
• package policies (property and liability combined)
• property
• umbrella
• workers compensation

Personal Lines

• automobile
• dwelling property
• homeowners (property and liability combined)
• inland marine (diverse personal goods)
• personal liability (including personal umbrella)