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 New York, property and casualty insurance (P&C insurance) is regulated by the New York State Department of Financial Services (DFS). P&C insurance encompasses a variety of policies that provide coverage for property damage and liability for bodily injury or property damage to others. This includes homeowners, automobile, renters, landlord, condominium, and powersports insurance policies. These policies typically cover the costs associated with damage to the insured's property and protect the insured from financial loss if they are found legally responsible for causing injury or damage to another party. The DFS sets standards and regulations for the issuance of these policies, ensuring that they comply with state laws and provide the necessary protections for consumers. Insurers are required to act in accordance with these regulations, including the fair handling of claims and the provision of clear information about coverage and exclusions. Policyholders in New York are encouraged to understand their coverage details and to ensure that their policies meet their specific needs, as well as to comply with any mandatory insurance requirements, such as those for automobiles.