Lines of Insurance

 Property

Property Insurance includes various types of insurance designed to insure property from financial

loss. The typical types of property items insured would be your house, auto, furniture, jewelry,

business property or any type of physical property. The perils covered will depend on the type 

of property contract that you purchase; however, the basic perils typically covered include fire, 

hail, windstorm, etc.

The following types of insurance are generally considered to be property insurance:

1. Dwelling

2. Homeowners

3. Commercial Property

4. Inland Marine

5. Ocean Marine

6. Crime

There are two parties involved with a property insurance contract: (1) the insured, and (2) the

insurance company. With property insurance, any insurance benefit payments by the insurance

company will be paid directly to the insured or other specifically named interests.

Casualty (Liability)

Casualty insurance mainly protects you against legal liability for bodily injury (BI) and/or property 

damage (PD) you cause to other people. In other words, liability or casualty coverage will pay for

accidental damage you cause to another person or their property. There are three parties to a

liability insurance contract— 1) the insured (you), 2) the insurer (insurance) company, and 3) the 

injured party

Casualty Insurance includes various unrelated insurance products, such as:

1. Aviation

2. Auto

3. Liability

4. Workers Compensation

5. Surety Bonds

Personal Lines Insurance

Personal lines refer to property and casualty insurance for an individual as opposed to a business.

Coverages would include homeowners, renters, auto, and personal umbrella to name a few. These

policies include both property and casualty coverages. For example, coverage is available in

auto policies to cover damage to your car (property) and accidental damage you cause to another

person's car (casualty or liability).

Commercial Lines Insurance

Commercial lines refer to property and casualty insurance to cover a business as opposed to

personal lines, which cover personal risks. Examples include commercial general liability, workers'

compensation, and commercial property insurance