A Closer Look at Property and Casualty Insurance

When you’re working as an insurance agent, understanding the various types of insurance you provide to clients is foundational. One type of insurance you may not have a lot of prior familiarity with, but that’s essential and commonly offered, is property and casualty insurance, sometimes also known as P&C insurance. Put in simple terms, property and casualty insurance can help your clients protect items they own, like a vehicle or a house, as well as providing an extra layer of protection in the event of harm to someone else’s property. To produce a strong sales pitch and present P&C insurance thoroughly and accurately to prospective clients, it’s essential to understand its nuts and bolts. Below, you can take a closer look at property and casualty insurance and why it could be immensely helpful for your clients.

It Covers Several Types of Loss of Property

Property insurance may be a bit more straightforward than casualty insurance, since it’s essentially an umbrella term for different types of property loss that result in financial damages. In short, when your client’s property is damaged, they may lose money, and property insurance helps compensate for that. However, it’s also important to note that there are a few different varieties of property loss that can occur, namely:

  • Income loss, such as when a business is destroyed
  • Damage to an item or property loss through theft
  • Additional associate costs as collateral damage

Because of these varied situations, many types of insurance can be considered under the umbrella of property protections. Equipment insurance, homeowners insurance and more, for instance, may all count.

Casualty Insurance Protects Clients in Multiple Scenarios

Similarly to property insurance, casualty insurance is a term used to refer to many insurance types at once. For example, workers’ compensation insurance and automobile insurance can both count, since they protect a client in the event of harm resulting from negligence. One common type of casualty insurance is known as liability insurance, which can help offset financial damages a client would have to pay if they were found to have damaged someone else’s property. This insurance type can come in handy in cases of, for example, car accidents, which can come with serious price tags in terms of repairs, medical bills, and more.

Whether your clients need coverage for their car and house or whether they’re simply looking for liability protections in case they’re found to be at fault for damage to someone else’s property, it’s your mission as an insurance agent to let them know about how property and casualty insurance works, and why it could be the right solution for them. Now that you’ve gotten a closer look at its inner workings, you can provide accurate information for your clients.

About AmSuisse

Formed in 2013, AmSuisse, Inc. has quickly distinguished itself as a wholesale operation that specializes in working very closely with our agents and broker partners to develop responsive, individualized service for each client. Our unparalleled writing support, industry-specific expertise, marketing support, responsive proposals and quotes, strong customer service, and strong relationships with our carrier partners have all helped us to provide the best possible coverage for our clients. To learn more about our available coverage, contact us today at (855) 912-8697 to speak with one of our representatives.