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property and casualty insurance

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 Texas, property and casualty insurance (P&C insurance) are regulated by the Texas Department of Insurance (TDI). These types of insurance cover a range of policies that protect individuals and businesses against loss of property and protection from liability. Property insurance covers the physical damage or loss of the policyholder's property, such as homes, cars, and personal belongings. Casualty insurance, on the other hand, provides coverage for liability in case someone is injured or their property is damaged due to the policyholder's actions or negligence. Common policies that bundle property and casualty insurance in Texas include homeowners, auto, renters, landlord, condo, and powersports insurance. These policies typically cover legal defense costs, settlements, and court judgments up to the limits of the policy, including medical expenses and other damages. Texas law requires certain types of P&C insurance, such as auto liability insurance, to operate vehicles legally. Policyholders are encouraged to review their coverage limits and exclusions with their insurance agent or attorney to ensure adequate protection.

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