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Real property

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, damage, or other liabilities. Property insurance covers the financial cost of repairing or replacing physical assets, such as homes, cars, and personal possessions, in the event of damage from causes like fire, theft, or natural disasters. Casualty insurance, on the other hand, provides liability coverage to protect against being held responsible for injuries to others or damage to their property, typically arising from accidents or negligence. Policies that commonly bundle property and casualty insurance in Texas include homeowners, auto, renters, landlord, condo, and powersports insurance. These policies not only cover the cost of damages but also provide legal defense and may cover settlements or court judgments up to the limits of the policy. It's important for policyholders to understand the terms, conditions, and exclusions of their insurance contracts, and they may consult with an attorney for legal advice specific to their situation.

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