PROPERTY INSURANCE

Property Insurance is 
insurance on real property for 
protection against most risks, 
hazards, and perils, such as fire, 
theft, and some storm and 
weather damage. Property 
insurance can also include 
specialized forms of insurance 
such as flood and earthquake 
insurance. Property is generally 
insured in the manner of open 
perils, which covers all causes of 
loss not specifically excluded in 
a policy, or named perils, which 
covers only causes of loss listed 
in a policy. Property can be 
valued through loss of use, 
replacement value, and market 
value methods. Commercial 
property insurance is often 
bundled with liability insurance, 
which protects your business 
assets if the business is sued 
for bodily injury or property 
damage.