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Property Insurance

Fires, floods, accidents— there's no shortage of reasons to need Property insurance.

What Is Property Insurance?

Property insurance is a broad term for a series of policies that provide either property protection coverage or liability coverage for property owners. Property insurance provides financial reimbursement to the owner or renter of a structure and its contents in case there is damage or theft—and to a person other than the owner or renter if that person is injured on the property.

Property insurance can include a number of policies, such as homeowners insurance, renters insurance, flood insurance, and earthquake insurance. Personal property is usually covered by a homeowners or renters policy. The exception is personal property that is very high value and expensive—this is usually covered by purchasing an addition to the policy called a "rider." If there's a claim, the property insurance policy will either reimburse the policyholder for the actual value of the damage or the replacement cost to fix the problem.


  • Property insurance refers to a series of policies that offer either property protection or liability coverage.
  • Property insurance can include homeowners insurance, renters insurance, flood insurance, and earthquake insurance, among other policies.
  • The three types of property insurance coverage include replacement cost, actual cash value, and extended replacement costs.

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