P&C Insurance: What Does It Cover

Image of a damaged wall with water a sponge and a bucket on the ground

Liability, personal property, dwelling, casualty and even coverage A through F. There are enough industry terms used in your home insurance policy to make your head spin. And unless you moonlight as an insurance expert, you’ll probably need some help translating what’s what. That’s where it pays to have an insurance provider that cares about the customer first.

One term you’ll hear quite often (no matter if you’re buying home, car or landlord insurance) is P&C insurance. Also known as property and casualty insurance, this term encompasses the personal belonging and liability coverage you’ll receive, regardless of the type of coverage you buy. Below, we break down the most important things you need to know.

Key takeaways:

  • Property and casualty insurance is insurance lingo for coverage of your property as well as liability coverage.
  • Property coverage protects your belongings from damages, including covered perils and even theft.
  • Casualty insurance protects you from having to pay for medical fees or lawsuits should someone get injured in your home.

What is P&C insurance?

Property and casualty insurance is insurance lingo for coverage of your property (your home, your car, your condo, your rental property, etc.) as well as liability protection in a variety of insurance policies. P&C insurance means that your personal property will be financially shielded from any covered peril when purchasing one of these policies. In addition, it protects you from having to pay out of pocket for any lawsuits or medical bills should an injury (AKA casualty) occur.

Property and casualty insurance in a homeowners policy

P&C insurance is an umbrella term that covers a variety of insurance types such as condo insurance, landlord insurance, renters insurance, car insurance and homeowners insurance. To help you better understand how this protects you, your home and your family, we’ve broken P&C home insurance coverage down by category below.

Property coverage

Property coverage is the main portion of your home insurance coverage. After all, you’re buying this coverage to protect your stuff, right? You’ll likely see property coverage go by several different names such as personal property coverage, coverage C, personal belonging coverage and even contents insurance. This portion of your home insurance coverage protects your belongings from damages due to covered perils and even theft.

However, if you have many highly valuable belongings such as expensive jewelry or collector’s items, you may want extra coverage to avoid having to pay out of pocket. This additional coverage is known as scheduled personal property coverage and can easily be added to your existing policy.

If you have a lot of highly valuable belongings (such as expensive jewelry or collector’s items), you may want extra coverage, known as scheduled personal property coverage, to avoid having to pay out of pocket.

Casualty coverage

Like property insurance, casualty insurance goes by several different names, including liability insurance and coverage E. It protects you (and any person added as an additional insured to your policy) from paying for medical fees or lawsuits. Common reasons you may get sued include if a guest gets injured on your property or if you damage someone else's property. You could be liable to pay for the repairs, medical bills, lost wages or even death benefits. But with casualty insurance, you won’t have to pay those out of pocket.

Property and casualty coverage in other insurance policies

Everyone wants their valuables and their family to be protected. That’s why P&C insurance is so widely used — because it provides adequate protection for the things that matter most in several industries. If you’ve ever paid HOA insurance, rented out your property, bought a condo, started a small business or purchased a car, you’ve likely encountered this term before. Homeowner P&C insurance protects your belongings, and you won’t be liable if someone gets injured. While there are slight differences in P&C insurance based on the type of coverage you’re buying, the base of what you can expect to be covered remains the same.

Here at Hippo, we do more than just explain complex terms like P&C insurance. We also offer a wide range of content in our Home Insurance Learn Center to make it easy for you to understand everything you need to know about home insurance. Have a question not answered above? Our support team is here to help any time you need them.