Property Insurance Coverage

Property insurance is the oldest type of insurance. In modern usage, property insurance is an umbrella term for first-party insurance that protects against a loss to the policyholder’s interest in specific property.

I. The Structure of Property-Insurance Policies

An insurance policy may provide only property-insurance coverage. For example, commercial-property insurance covers only losses to a business’s property. Alternatively, a policy may include both property and liability coverage. For...