What is property casualty insurance?
If you own a home or car, you probably have property casualty insurance. This is a type of coverage that helps protect the things you own. It can include:
Car Insurance
Covers damage to your vehicle or others’ property and injuries from accidents, theft, weather, or vandalism.
Home Insurance
Protects your home and belongings from damage, theft, or accidents and provides liability coverage if someone is injured on your property.
Commercial Insurance
Helps businesses recover from property damage, lawsuits, or employee injuries and keeps operations running after unexpected events.
Renter’s Insurance
Covers your belongings in a rental, plus liability and temporary housing costs after damage, theft, or accidents.
Boat Insurance
Protects your boat and passengers from damage, weather, theft, or liability if you harm someone or their property.
Why does property casualty insurance matter?
Accidents happen. Storms hit. Pipes burst. And when they do, property casualty insurance can help cover the costs so you don’t have to face it all alone.
When a storm damages your roof or a fender bender lands you in the repair shop, the right insurance coverage can help you recover without draining your savings. It’s a safety net that helps families, renters, and small business owners weather life’s unexpected events.
But that protection only works when coverage is affordable and available to the people who need it. Rising costs can push insurance out of reach for many households. That’s why keeping property casualty insurance fair, accurate, and accessible is essential — not just for peace of mind, but for economic stability and security in every community.
Improving communities at the state and local levels by investing nearly a quarter trillion dollars in bonds.
Deploying more than half a trillion dollars to fulfill promises to individuals, families, and businesses.
How does insurance work?
Insurance provides protection against unexpected losses, damages, injuries, and financial liability. By paying a set premium, you gain peace of mind knowing you’re covered if something goes wrong
Buy a Policy
Choose coverage and pay your premium.
Stay Protected
Coverage applies during your policy period.
Something Happens
Accident, damage, or loss occurs.
File a Claim
Report the issue to your insurer.
Claim is Reviewed
Insurer checks what’s covered and owed.
Payout or Repair
Insurer pays or arranges for repairs to get you back on track.
Why do insurance costs vary?
The affordability and accessibility of insurance are influenced by a variety of factors. They range from where you live to what items you’re insuring. Check them out below:
What You’re Insuring
Bigger or newer items cost more.
Where You Live
Riskier locations raise your insurance cost.
Your Claims History
More past claims usually means higher rates.
Coverage Level
More coverage means a higher premium.
Other Factors:
Credit, education, occupation, and other factors impact your costs.
How You Use
the Property
Business use can raise cost and risk.
State Laws & Regulations
Rules vary, and some states require more coverage.
Discounts & Bundles
Bundling policies or safety features lowers costs.