Protecting possessions from destruction or theft is crucial in today’s world. You never know when something might happen, and the last thing you need is an unexpected expense.
P&C insurance is designed to provide the protection you need to prevent asset depletion from litigation claims or disasters while safeguarding your possessions.
The property component of this insurance protects physical items. This list includes cars, trucks, commercial buildings, houses, business inventory, and personal possessions. If you’ve heard of flood, earthquake, or homeowners’ insurance, these options are all in these categories.
Casualty insurance covers losses that happen to another business or person caused by your actions. It’s third-party coverage for things like repair or medical costs.
Who Needs Property Insurance in Austin?
Anyone who owns property should consider property and casualty insurance in Austin. Texas requires drivers to carry automotive insurance in the form of liability coverage, but you might also be asked in a mortgage contract to hold this policy type.
It’s important to know what coverages are available in each policy. About one-third of homeowners believe that standard insurance covers flooding and mold damage, but these items are usually included in separate categories. You’ll need a separate policy, but our team can review your situation to let you know where you stand.
Some causes of property destruction are not covered in homeowners’ insurance policies in Austin. That includes maintenance damage, sewer backups, flood damage, and earthquake protection.
Your property and casualty insurance specialist in Austin can review your unique circumstances to determine what coverage is appropriate.
Who Needs Casualty Insurance in Austin?
Liability coverage is an essential part of insurance protection today. Imagine that your neighbor’s fence catches on fire because you’re grilling outside, and then the flames spread to the house. Without an adequate policy, you could be paying off that obligation for a long time.
Casualty insurance covers the larger claims when you keep your premiums up to date.
If you take a vacation and someone steals your car or an expensive piece of jewelry, this insurance coverage could entitle you to reimbursement. You would need to document the theft, provide evidence of ownership, and have a police report available when speaking with your insurer.
What About Home-Based Businesses in Austin?
Home-based businesses are not typically covered by a standard insurance policy. If you have people visit as customers, you’ll need a separate business policy to insure this part of your daily routine.
Commercial property and casualty coverage is different from the residential version.
When your Texas property is left vacant for a specific time, the policy might be canceled. That’s because a lack of human presence increases the risk of peril. Changes to your risk profile might require a separate policy in this area.
We highly recommend checking your current insurance to see if you’re covered with replacement costs or actual cash value. The first option is the best choice.
If you need help reviewing your insurance coverage, our Austin team is here to help! Let us know what you need to have protected, and we’ll put together a comprehensive quote that takes care of your needs.