Property insurance and casualty insurance (also known as P&C insurance) are two broad categories of insurance coverage that are included in various insurance policies. In other words, there is no one P&C insurance policy—rather, there are a number of insurance policies that contain both property insurance and casualty insurance.
Property insurance insures against damage to your property—such as your home or your car. Casualty insurance insures against liability if someone claims you are responsible for causing bodily injury to them or their property—often based on your alleged negligence.
Property and casualty insurance are generally bundled together in one insurance policy such as:
• a homeowners insurance policy
• an automobile insurance policy
• a renters insurance policy
• landlord insurance
• condominium (condo) insurance
• powersports insurance (motorcycles, ATVs, RVs, off-road vehicles, boats)
Property and casualty insurance will defend you against such claims and pay settlements and court judgments against you that are covered by your insurance policy—including medical expenses, pain and suffering, and lost income for a person injured by your negligence.
In Delaware, property and casualty insurance (P&C insurance) is regulated by the Delaware Department of Insurance. This type of insurance typically combines coverage for property loss or damage with liability coverage for injuries or damage to others for which the policyholder may be responsible. Homeowners, automobile, renters, landlord, condominium, and powersports insurance policies are common examples of P&C insurance. These policies are designed to protect individuals and property owners from financial loss due to accidents, theft, natural disasters, and other covered perils. They also provide liability coverage to defend against claims and pay for settlements or court judgments related to bodily injury or property damage caused by the policyholder's negligence. Delaware law requires certain types of P&C insurance, such as automobile insurance, to operate vehicles legally. The specific coverage details and requirements can vary based on the policy and the insurance provider.