Property casualty insurance is just a sub category of property insurance. But there is a difference between property and casualty insurance that is very important and should be understood by people willing to purchase any of them or so called property casualty insurance. So, what is the difference? Property insurance covers the expenses dealing with the loss or damage of property of different kinds. But casualty insurance is a protection of business or person against legal liability if this person causes damage or loss of somebody’s property or injure other people.
Property casualty insurance provided by any property insurance company has two directions of action personal and commercial.
Both of these directions or so called “lines” are very important and they form a mixture that will help a client to manage risks dealing not only with money but also with legal liability.
Commercial line of property casualty insurance deals with capital assets, medical professional liability, equipment breakdown, crime and fidelity, workers compensation etc. Personal line of property casualty insurance includes such topics as houses, cars, inland marine etc. As any other type of insurances property casualty insurance has its specific features and options concerning property insurance coverage, rates and other important issues. If you plan to purchase such a serious insurance, that doesn’t belong to cheap insurance category, think twice to make the right choice as for the company and its reputation, collect some information about the property or about the legal liability in general and of course define your needs and possible risks as clearly as possible.
Read the insurance policy careful
It is very important to read the insurance policy carefully and to make sure that you understand what it covered or what is not covered according to this specific insurance. Anyway it is always desirable to consult a qualified independent insurance agent who will answer all your questions and offer the best suitable variant of property casualty insurance for you.