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What is Casualty Insurance and How Does it Protect You?

What is Casualty Insurance?

Casualty insurance, more commonly known as liability insurance, is broad protection to help protect you from losses, particularly financial, if you are found at fault for injury to another person, their vehicle or damages to other property. Casualty insurance could also help if you are sued for these losses by covering some or all the litigation costs. Your vulnerability varies based on the type and amount of insurance you have, the accident's aftermath, and other factors. In fact, most states require you to have this insurance to drive legally making it compulsory.

In legal terms, liability is generally established if your actions are found to be negligent (not using proper care in your personal actions) and determined to have caused or contributed to another person’s damages. Being at the wheel during a vehicular accident doesn’t automatically make you legally liable, but if you are found liable, casualty insurance could help with the resulting financial damages.

What Are the Different Types of Casualty Insurance?

As a vehicle owner, casualty insurance helps protect you from personal liabilities if you were found at fault for an accident.

There are also different types of casualty insurance which can help protect you as a property or business owner. For example, casualty insurance can help protect you if someone gets hurt on your personal property. It can also potentially minimize your personal financial liability if someone suffers damages based on a product or service your business provides or if someone is injured while they are on your business property.

Your casualty insurance needs may depend on your home, business, or other insured properties. Talk to an agent to gain more information about insurance options for your unique circumstances.

What Doesn’t Casualty Insurance Cover?

While casualty insurance protects against general liability, it’s not an end-all-be-all insurance solution for every situation. For example, it may not cover damages caused by a vehicle fire (as that could depend on the cause of the fire). Therefore, you may want to consider additional supplement products such as comprehensive insurance which includes vehicle fire coverage.

When You Should Consider Casualty Insurance

Casualty insurance is required to legally drive in most states. Manufacturing businesses and other niches are often required to have casualty insurance in some form as well.

Talk with an Expert First

Make time to talk to an insurance agent to learn more about your casualty insurance options.

Terms and Conditions

This material is for general informational purposes only. Products, services, and discounts referenced herein are not available in all states or in all underwriting companies. All statements are subject to the terms, exclusions and conditions of the applicable policy. In all instances, current policy contract language prevails. Coverage is subject to individual policyholders meeting our underwriting qualifications and state availability. Other terms, conditions and exclusions may apply.