Property and casualty insurance is made up of two types of coverage:

Property insurance protects your business, home, and/or vehicle against losses and business interruptions that can occur during an event such as a fire, storm, civil disobedience event, or vandalism.

Casualty insurance is related to liability insurance, and protects your business from losses relating to personal injuries suffered in your place of business, in a traffic accident in a vehicle you own or lease, or in another area of your business.

How do I determine how much property and casualty insurance I need?

Your insurance needs depend on your type of business, its size, and your risk. While any business can suffer a loss of property or income in the case of a fire, natural disaster, or other unforeseen event, some businesses are at higher risk for specific types of damages than others. For example, if you own a large fleet of trucks you use to make deliveries, work with highly flammable chemicals, or operate your business in an area known for severe storms, you might need specific insurance related to those areas of risk. Your insurance agent or broker can help you determine what kind of insurance is right for your business, and how much you need.