Property and casualty insurance is a type of insurance that covers individuals and businesses from financial loss due to property damage, theft, or liability claims.
It is also referred to as P&C insurance or general insurance. P&C insurance can be divided into two categories: personal lines and commercial lines.
What is Property and Casualty Insurance in the USA?
Property and casualty insurance is a type of insurance that covers individuals and businesses from financial loss due to property damage, theft, or liability claims. P&C insurance can be divided into two categories: personal lines and commercial lines.
Personal lines insurance provides coverage for individuals and their personal property, such as their home, car, and personal liability. Commercial lines insurance provides coverage for businesses, such as liability, property, and workers' compensation insurance.
P&C insurance is necessary because accidents and unexpected events can happen at any time, and they can be expensive to fix. Without insurance, individuals and businesses may face significant financial losses.
Types of Personal Lines Insurance
Personal lines insurance can be further divided into several types of insurance, including:
- Homeowners Insurance: Homeowners insurance provides coverage for the structure of the home, personal property, and liability protection. It also covers additional living expenses if the home is uninhabitable due to a covered loss.
- Auto Insurance: Auto insurance provides coverage for damage to a vehicle and liability protection for injuries or property damage to others. It can also provide coverage for medical expenses, rental cars, and roadside assistance.
- Renters Insurance: Renters insurance provides coverage for personal property and liability protection for renters. It also covers additional living expenses if the rental property is uninhabitable due to a covered loss.
- Umbrella Insurance: Umbrella insurance provides additional liability coverage above the limits of the underlying policies, such as homeowners or auto insurance.
Types of Commercial Lines Insurance
Commercial lines insurance can be further divided into several types of insurance, including:
- Liability Insurance: Liability insurance provides coverage for bodily injury, property damage, and advertising injury claims. It can also provide coverage for legal defense costs.
- Property Insurance: Property insurance provides coverage for damage to a business's property, such as buildings, equipment, and inventory.
- Workers' Compensation Insurance: Workers' compensation insurance provides coverage for employees' medical expenses and lost wages if they are injured or become ill on the job.
- Business Interruption Insurance: Business interruption insurance provides coverage for lost income and operating expenses if a business is unable to operate due to a covered loss.
List of Property and casualty insurance companies in USA
21st Century Insurance
American Automobile Association (AAA
American Family Insurance
American Income Life Insurance Company
American International Group (AIG)
American National Insurance Company
American Strategic Insurance (ASI)
Ameriprise Auto & Home Insurance
Ameritas Life Insurance Company
Amica Mutual Insurance
Amtrust Financial Services
Arbella Insurance Group
Assurity Life Insurance Company
AXA Equitable Life Insurance Company
Bankers Life and Casualty Company
Brotherhood Mutual Insurance Company
Citizens Property Insurance Corporation
CNO Financial Group
Colonial Life & Accident Insurance Company
Commerce Insurance Group
Country-Wide Insurance Company
Encompass Insurance Company
Erie Insurance Group
Evergreen USA RRG
Farmers Insurance Group
Federated Mutual Insurance Company
First Insurance Company of Hawaii
Gerber Life Insurance Company
Globe Life And Accident Insurance Company
Gracy Title Company
Grange Mutual Casualty Company
Great West Casualty Company
The Guardian Life Insurance Company of America
Hagerty Insurance Agency
HCC Insurance Holdings
Hiscox Small Business Insurance
Horace Mann Educators Corporation
Kansas City Life Insurance Company
Kentucky Farm Bureau
Knights of Columbus