Property insurance is a type of insurance meant to protect personal property. In most cases, it covers things like theft, damage to your building, other structures on your property, and your possessions.
State law generally governs property insurance coverage, which can vary by state, insurer, and policy.
An agreement between the insurer and the insured is property insurance. Monthly or annually, the insured pays the insurance company for premiums.
In exchange, the insurance company agrees to safeguard the customer from financial loss in the event of property damage.
