what is property insurance?

Answer 1

It does just what it says, protects you if your property is lost, damaged or stolen. Of course, you must make reasonable efforts to recover it if it is lost (put up flyers, etc.) or stolen (tell the police). You must also take steps to stop the damage from spreading until it can be fixed. For example, a tree falls through your roof. You must cover the hole as best you can until the tree can be removed and the hole repaired.

Answer 2

There are many different types of property insurance. For the most part it can be divided between personal homeowners insurance and business property insurance. The differences are obvious: Homeowners covers all tangible real property within the insured's home and driveway, whereas business property insurance would cover much more. These include everything from the building itself, to surrounding buildings (in the case of fire) and even items like important business documents (accounts receivable records, petty cash on premises, etc.) Simply property insurance is used to mitigate the risk associated with possible losses resulting from perils such as fire, windstorms, theft, vandalism and many others.

You can purchase property insurance in three ways: Through a broker (a legal representative of you, the insured), an Agent (a legal representative of the Insuring company) or directly from an Insurance company (although the first two are more likely.)

Answer 3

It is what it say's. Property Insurance covers things like fences or anything that is on your property. It is mainly used for, if someone gets hurt on your property and sue's you the insurance will cover it.

Answer 4

Insurance against damage to your property. That can be real property like a home, or it could be personal property, like cameras or jewelry that you lost due to natural disaster or due to theft. But the insurance must list these items for them to be covered.

Answer 5

It means insurance for your property/stuff.

I believe there are different types. E.g for renter's insurance, your building pays insurance for the building (e.g. walls, ceiling, plumbing, etc.), but if there is a problem such as a fire, you need to ensure your personal stuff (e.g. furniture, art, electronics, etc.). Also, you can get insurance for your property outside your house (e.g. your lawn) in case there is a natural disaster or if there is an accident & someone tries to sue you.

Answer 6

It is insurance that protects "real property" .It is designed to "insure" that you are put back in like kind or quality if your "real property" is damaged.

Answer 7

Property insurance is any kind of insurance that covers tangible "stuff", such as buildings, stuff inside buildings, equipment, etc, - anything that you can "buy" or "sell" and physically touch.

It's FIRST PARTY coverage for stuff, which means, it covers physical things that happen to your stuff (fire, theft, vehicular damage, flood, whatever you pick), and pays YOU. (As opposed to casualty insurance, which is liability coverage, and pays someone you damage.)