Definition of «property insurance»

Property insurance refers to a type of insurance that covers damage or loss to property, such as buildings, contents in a building, and other items. This includes both physical damage and losses caused by various events, including fire, windstorms, hail, vandalism, theft, lightning, and more. The policy provides financial compensation for repairing or replacing damaged property, so that homeowners or businesses can get back on their feet as quickly as possible without having to bear the full cost of repairs themselves. Property insurance is an essential part of protecting one's assets and ensuring peace of mind in case of unexpected events.

Sentences with «property insurance»

  • There are two types of commercial property insurance policies with the first, replacement cost, a lot more common. (usinsuranceagents.com)
  • That's where the valuable personal property insurance policy comes in. (usaa.com)
  • Even worse, renters notoriously overlook personal property insurance for several reasons, typically because they believe their landlord's insurance covers their property as well. (trustedchoice.com)
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