Property and Casualty Insurance covers family home and auto

Types of Property and Casualty Insurance for Central Floridians

There are many types of Property and Casualty Insurances available to help people in Central Florida protect their assets. Some insurances are required by state law in many circumstances.  Even when not required by law, having the right property and casualty insurance coverage is important for your peace of mind.

What is Property and Casualty Insurance?

Property and Casualty Insurance, or P & C Insurance, is an umbrella term to describe a series of different types of insurance.  Different types of Property and Casualty Insurance are available for covering your personal property and offering liability coverage.  P & C Insurance does not cover life insurance or health insurance.  Different types of Property and Casualty Insurance include:

•             Homeowners Insurance

•             Condo Insurance

•             Rental Insurance

•             Mobile Home Insurance

•             Co-Op Insurance

•             HO4 Insurance

•             Liability Insurance

•             Auto Insurance

•             Worker’s Compensation

What the different types of property and casualty insurances cover

Property Insurance protects the things you value

Property Insurance is insurance for your personal tangible property, things that can be felt or touched, or in other words your ‘belongings’.  The various types of Property Insurance can cover the replacement cost of your ‘belongings’ in cases of theft and vandalism or catastrophes such as fire or hurricanes.

Property Insurance for Homeowners

If you own you house, condominium, or mobile home, it is your responsibility to insure your investment with property insurance. If you have a bank loan or mortgage, you are required to carry property insurance.  Even when your home is paid off, it is a good idea to keep property coverage for your house, condo, or mobile home.  If something happens to your home, you want to make sure you are covered for replacement costs.

Property insurance is essential for any business that has employees or patrons.

As an employer you can usually trust most of your employees, but every business should have one or more types of property insurance, just in case.  Employers can have disgruntled employees due to no fault of their own and there are some instances where employees will steal from or vandalize the property where they work. Also, businesses can have patrons who visit their establishments and may become ill or fall and get hurt on the property, as a business you need to be protected.

Property Insurance can also be a key insurance for renters.

As a renter you may never know when something could happen like a fire or even vandalism by another renter.  Most times renters find that their landlord requires them to have renter’s insurance, this is to help protect both of you in case of an accident or disaster. The renter’s property is not covered under the homeowner’s insurance so it’s essential you keep your personal property covered with insurance.  Renter’s Insurance as it is very affordable and easy to obtain, so all renters in Central Florida can have coverage.

Casualty Insurance

Casualty Insurance is insurance that covers your legal responsibilities; it is your liability insurance.  Casualty or Liability Insurance can help in times when other another person may have property damage or an injury, caused by you.  As an individual this is where Auto Insurance is required by law.

Auto Insurance protects you personally if you cause an accident

Casualty insurance is also an important insurance for businesses to have.  Worker’s compensation insurance falls under this category.  Worker’s Compensation protects businesses from employees who may be injured on the job due to no fault of their own.  Casualty Insurance also protects businesses from patrons who may become injured at their establishment.

There is also a new Casualty Insurance, to consider when purchasing insurance for your business, which is Cyber Liability Insurance.  Cyber Liability Insurance was once only purchased by Technology companies but is now necessary for most businesses.  Cyber Liability Insurance covers claims against cyber security breaches.  Most of us know at least one person who has had a cyber security breach with a credit card or bank account.

There are other forms of Casualty Insurance that can be purchased for special needs of the business such as event insurance or entertainer’s liability.

Do I need Property or Casual Insurance?

The answer is, simply, yes. Everyone needs certain types of Property or Casual Insurance.  It does not matter if you own your home or rent because you should always protect your property.  It does not matter what kind of car you drive; accidents happen all the time. You also need to protect yourself from other drivers who may be driving illegally without insurance. 

It does not matter what type of business you own or run because you need to protect your business.  Businesses not only need protection for their employees and patrons but need protection from them in order to continue to thrive as a business. Insurance for your business is a ‘must have’ because your business is your livelihood.

Insurance is important for when something in our lives or work goes wrong.  Property and Casual Insurance is for those things that we may not foresee but from which we nonetheless want to be protected.

Call Barakat Insurance today to find the best deals on the right Property and Casualty Insurances for you.

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