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.
Related topic: Accident
& Health