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Property and Casualty Insurance

A talk by Harriet Watson

About the Talk

August 13, 2014 12:00 AM

The main difference between auto insurance and property and casualty insurance is that auto insurance merely covers vehicles, together with injuries and damages involving a vehicle. On the other hand, property and casualty insurance covers all types of property, from cars, homes, businesses and commercial buildings. It as well covers liability that may result from injuries or damages withstood on a policyholder's property or from the actions of an employee.

AXIS Capital, a group of companies with branch offices in Bermuda, Australia, Canada, Europe, Latin America, Singapore and the United States provides you a better understanding of what Property and Casualty Insurance is. The company also service SE Asian countries such as KL Malaysia, Bangkok Thailand, Jakarta Indonesia and many more.

What Property and Casualty Insurance Covers

Property and casualty insurance, similarly known as property casualty insurance and property liability insurance, covers businesses, homes and vehicles. In overall, the property factor of this insurance safeguards property against loss, counting loss of its income-generation capabilities. Coverage likewise comprises property restoration and replacement. The casualty component of this insurance protects the policyholder against lawful liability for injuries to a person or property. For an instance, a warning, if a person is hurt on your property because of your negligence, your property and casualty insurance would recompense for the person's injuries and any legal costs that may be caused by the incident. Insurance companies can often adapt property and casualty insurance to the requests of the policyholder. Always review your insurance coverage.

Property and Casualty Insurance Covers More

Dissimilar to auto insurance, property and casualty insurance is not limited to compensations from automobile-related events alone. Property insurance can cover everything from satellite dishes, signs and fences, landscaping, valuable papers and records, tools and other people's property in your care and control. Also, covered events that instigate property damage can consist of fire, theft, vandalism, riot, snow, windstorm, hail, water damage, falling objects, explosion, smoke, lightning and sinkholes. Casualty insurance covers complaints and lawsuits arising from the policyholder's, or their employees, negligence, damage to property of another or causing bodily injury. Casualty insurance characteristically doesn't cover liability resulting from out of such things as sexual harassment, race and gender discrimination or wrongful termination.

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