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What is Property & Casualty (P&C) Insurance?

Here are some basic ideas to help understand the overall concept.

PROPERTY

insurance provides coverage for physical damage to tangible items you own; typically “things” like homes, commercial buildings, personal property, and also vehicles.

CASUALTY

insurance provides coverage for “liability” events to help protect you if you’re found legally responsible for an event that causes injuries to another person or damage to another person’s belongings.

Auto Insurance Content:

  • Vehicle Insurance
  • Personal Use Vehicles
  • Private Passenger Vehicles – Cars, Trucks, SUV’s
  • Motorcycles – Licensed for Road Use
  • Off Road Vehicles – Sand Cars, Dirt Bikes, ATV’s

Motorhomes and Travel Trailers

With so much in motion, sometimes the unexpected happens, and the potential damage we do can prove to be very costly. Liability protection is crucial!

To legally operate a motorized vehicle (on road) 48 out of 50 states require a person to carry a vehicle insurance policy which provides a minimum amount of liability coverage for possible damage to another party.

Those minimum liability limits should be considered a “starting point”, but can still leave a person responsible for a large amount of damages if the coverage provided by the policy isn’t enough.

With a vehicle insurance policy, for both “on road” or “off road” vehicles, you may want to consider two physical damage coverages to protect your property. If you are still paying for the vehicle, the lender will likely require it.

COLLISION

Provides coverage when your vehicle “collides” with another thing, such as another vehicle, but it could also be colliding with a stationary object like buildings, light poles, etc., or even an animal.

OTHER THAN COLLISION (COMPREHENSIVE)

Provides coverage for your vehicle for damages caused by different situations like, fire, theft, vandalism, glass breakage, or being struck by falling objects.

Homeowners Insurance

  • Residential Insurance Policies
  • Homeowners, Dwelling, and Renters Insurance
  • Owner Occupied (Primary & Seasonal)
  • Tenant Occupied
  • Vacation Rentals
  • Vacant / Under renovation

Whether we own or rent, our home is a place where we can invest our time, and money to create a place where we can feel a sense of safety and security. It’s our sanctuary, and as such, there is a lot to protect!

With a homeowners insurance policy, we attempt to protect that investment, and provide coverage for things like the:

-Dwelling – Actual building

-Other Structures – Detached buildings, fences, pools, etc.

-Personal Property – Contents inside or outside of the home

-Loss of Use / Loss of Rents – Additional expenses after a covered loss

-Personal Liability – Lawsuits for bodily injury/property damage

-Medical Expenses – For guests sustaining minor injuries)

Not all homes are used in the same way, and with the wide variety of uses for homes, there are policies designed for these different scenarios. Knowing how the home is being used and having good communication between agent and client will ensure the proper protections of a policy.

Business Insurance Policies

Business owners have made a tremendous investment into their companies, and therefore, have a lot to protect from both a Property and Liability perspective. No businesses are exactly alike, so a comprehensive assessment of your commercial insurance needs is an essential component in your security.

Similar to the needs of individuals, business owners need to consider their need for many things such as coverage for Buildings, Business Personal Property, Business Income Losses, Commercial Vehicles, and General Liability concerns. Businesses have other additional things to consider however such as injuries to employees, care for customers’ goods, professional liability, and more.

Let's take a closer look at some of these concerns:

Commercial Package Policies or Business Owners Policies (BOP):

Provides a policy that includes coverage for business personal property, liability coverages, and other valuable coverages. Can be tailored to the needs of individual businesses.

Commercial Auto Policies:

Provide coverage for damage to company vehicles, and also the company’s liability associated with the operation of those vehicles. Some businesses have additional concerns that go along with their vehicle fleets, such as the need for CARGO insurance to also provide coverage for personal property that is in transit from one place to another.

Workers Compensation Policies:

Provide coverage for the costs of medical visits, hospitalization, rehabilitation, and compensation for lost income for employees that sustain an injury and/or illness in the course of their work. These policies are mandatory in all states, and required for all businesses that have employees.

Professional Liability Policies:

Also referred to as “Errors & Omissions” or “Malpractice” Insurance is an important consideration for certain professional occupations that have expertise in a certain area. Examples of some professions that would require this type of insurance would include attorneys, accountants, physicians, insurance agents, and others. This type of policy provides coverage for lawsuits initiated because of negligence or other mistakes that are made in the course of providing these professional services. Typically, professional liability is not covered by general liability policies, so it is a critical component of protecting certain types businesses.

Bonds / Surety:

A surety bond is a contract between three parties including 1. The Principal (you), 2. The Surety Company and 3. The “Obligee” (the entity that requires the bond). In these agreements, the surety company financially guarantees to the obligee that the principal will act in accordance with the terms established by the bond. There are a wide variety of purposes and uses of surety bonds, and we are able to take care of these for you as needed.

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