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 North Dakota (ND), property and casualty insurance (P&C insurance) is regulated by the North Dakota Insurance Department. P&C insurance policies are designed to protect individuals and businesses from financial loss due to damage to property or liability for causing injury to others. These policies typically include coverage for homes, automobiles, renters, landlords, condominiums, and various powersports vehicles. The state of North Dakota requires certain types of P&C insurance, such as automobile liability insurance, to operate vehicles legally on public roads. Additionally, homeowners may be required by mortgage lenders to carry homeowners insurance. The specific terms and coverage limits of P&C insurance policies can vary widely, and policyholders are encouraged to review their policies carefully to understand what is covered. In the event of a claim, the insurance will provide defense and may pay settlements or court judgments up to the limits of the policy, including medical expenses and other damages due to negligence.