What is property insurance?

Property insurance refers to coverage that protects physical assets, such as buildings, personal belongings, and other tangible items, from a variety of risks including theft, fire, vandalism, and damage from natural disasters. This type of insurance is designed to provide financial protection and peace of mind to individuals and businesses by ensuring that they can recover from losses related to their property.

While some options focus on different types of insurance, they do not accurately capture the comprehensive nature of property insurance. For example, property insurance is not limited to personal injuries or liabilities; instead, it specifically addresses the security of physical assets. Additionally, property insurance is applicable to both personal and commercial properties, not just commercial ones. Understanding the breadth of property insurance helps individuals and businesses make informed decisions about safeguarding their valuable assets against unforeseen events.