Texas · Property and casualty
Property pays you. Casualty pays other people.
Property and casualty is the name for insurance that is not life or health. Property coverage pays to repair or replace something you insure, after a covered peril, up to the limit. Casualty, in this phrase, means liability: it pays people you injure or whose property you damage, up to the limit. A homeowners policy and an auto policy each contain both.
Texas homeowners and Texas auto. Business policies are the commercial version: business insurance.
How that split looks on a house and a car
On a house, Coverage A is property: rebuild cost after fire, wind, hail, and the other perils the form covers. It is not the sale price. Liability is the section that pays a guest who is hurt. Your belongings are property, Coverage C, often with a cap when they are off the premises. What Texas homeowners covers. Renters is mostly belongings plus liability, not the building: renters. A condo is the interior and your liability, not the building the association insures: condo insurance.
On a car, liability pays others. Collision and comprehensive are property coverage on your own car, settled at actual cash value minus the deductible. The state minimum is only the liability piece.
An umbrella is extra liability. It pays only after the home and auto liability limits are used up. It is not extra dwelling coverage. Umbrella. The homeowners product page: Texas homeowners products.
