Standard Property and Casualty Policy Structure
Property and Casualty insurance is necessary to protect some of the most essential parts of our lives, like our homes, our cars, and our financial livelihood. Accidents can happen to us, to our possessions, or to others because of our actions at any time, and without insurance, the repercussions of those accidents could be costly.
Property insurance, sometimes called fire insurance, provides financial protection for damage to our loss of real property (fixed property like buildings) and personal property contained inside and within the premise of the building. A property insurance policy is two-person contract between the first party insured and a second-party insurer. A property insurance is usually referred as first-party insurance or first-party claimant because it provides coverage for loss to the insured’s on property.
Casualty, or liability, insurance provides protection for legal liability arising from unintentional wrongful acts that cause bodily injury to others, or damage to someone else’s property and/or reputation. Like the property insurance, policy is two-person contract between the first party insured under a liability contract and a second-party insurer. However, liability contracts/policies are often referred to as third-party insurance because they provide coverage for loss to a third party to whom the insured owes a legal obligation.
Let us help you by finding the right property and casualty insurance coverages with the right insurer. We can help you with Personal Property Policies, Homeowners Policies, Personal Lines Coverage, Business Owners Policy, Cyber Security and Identity Theft, Workers Compensation Insurance, Commercial Package Policies and Pet Insurance.
Learn more by calling us. We are here to help acquire your best fit c0verage.
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