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In very simple terms, insurance companies buy the potential of specified losses from individuals and businesses, and then pay the policyholder if a covered loss occurs.

Property and casualty insurance, commonly called “P & C insurance”, helps protect you and the property you own, such as your home, car, or business properties. In the world of insurance, property and casualty coverages are important and necessary tools to protect against a number of losses.

Property insurance policies cover items you own such as your home or car. For a business, “property” can mean your physical location, business property and equipment. Fire and theft are some of the common perils covered under a property policy.1

Casualty insurance policies provide liability coverage. For example, this coverage comes into play if you’re found legally responsible for an accident that causes injuries to another person or damage to another person’s belongings, whether for personal or business concerns.2

Property and casualty insurance policies are commonly purchased together, as each type provides a more complete package of protection. While many individuals and businesses may need more insurance, these two are a great place to start.3

To learn more about coverages Merchants Insurance Group offers, visit our Insurance for Business page and Insurance for Individuals page.

1. Investopedia
2. Northwest Bank
3. Houston Chronicle

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Merchants Insurance Group

Merchants Insurance Group

Merchants Insurance Group sells its products through a network of more than 1,000 independent insurance agents in Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, and Vermont. We sell our products through independent insurance agents because we believe they provide value to policyholders through their broad range of products and their insurance expertise.