Property and casualty insurance

Stay covered if your or someone else’s personal assets accidentally get damaged.


What is property and casualty insurance?

Property and casualty (P&C) insurance is an overarching term in the insurance industry for coverages that protect you and the property you own.

What’s the difference between property insurance and casualty insurance?

The property portion of this coverage protects tangible assets such as homes, personal belongings, equipment and cars. Property insurance will either cover a property’s replacement value or actual cash value. Typical coverage scenarios include:

  • Damage caused by fire, wind, hail and snow
  • Vandalism
  • Theft

The casualty side refers to liability protection if you or your company is deemed legally responsible for damages to another’s property or injuries. These might include:

  • A customer falls and injures themselves at your business.
  • You damage a client’s art while working in their house.
  • You badmouth a competitor, and they lose customers.

Types of property and casualty insurance

P&C insurance is often the starting point for a customized insurance package and is broad protection against loss and liability. This kind of insurance is available for both personal and commercial policies.

Businesses typically have these common P&C coverages:

  • General Liability. This covers you for losses that stem from injuries to non-employees, damage to other people’s property and more.
  • Workers’ Comp. Workers’ comp provides insurance coverage for lost wages, medical expenses and more if you or an employee gets injured at work. It’s required in most states.
  • Professional Liability. Also called errors and omissions insurance (E&O insurance), professional liability helps protect business owners from claims of making professional mistakes or negligence.
  • Commercial Property. This insurance provides coverage for damage or vandalism to your equipment and inventory. It also can cover lost income, operating expenses and repairs to your building.
  • Business Umbrella insurance. Also called excess liability insurance in some states, this coverage extends the limits of casualty coverage — often general liability.

NEXT offers customized insurance aligned to your business needs

We know your business is unique and has specific needs. That’s why we offer affordable, custom business insurance coverage. To get your tailored instant quote, simply answer a few questions online. Once you’ve purchased your insurance, you can immediately access your certificate of insurance and share it 24/7 via the NEXT app.

Start a free instant quote with NEXT.

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Let’s find the coverage you need for your business
Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.
General Liability insurance
General Liability
Protect yourself from accidents that cause physical injury or damaged property.
Professional Liability or Error and Omissions Insurance
Professional Liability/E&O
Shield yourself from lawsuits that claim your work errors caused financial losses.
Workers' Compensation Insurance
Workers’ Compensation
Cover medical bills and lost wages if your employees have an accident at work.
Commercial Auto Insurance
Commercial Auto
Stay on the road with coverage for dents, tows and damage to someone else’s vehicle.
Tools & Equipment Insurance
Tools & Equipment
Upgrade your general liability coverage to protect any gear that’s stolen, damaged or lost.
Commercial Property Insurance
Commercial Property
Keep your building, inventory and equipment protected from fire or water damage.
Business Owner’s Policy Insurance
Business Owner’s Policy
Combine general liability and commercial property into one policy to protect your business.
* To the extent permitted by law, applicants are individually underwritten, not all applicants may qualify. Individual rates and savings vary and are subject to change. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only.
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© 2023 Next Insurance, Inc. 975 California Ave, Palo Alto, CA 94304, United States
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Issuance of coverage is subject to underwriting. Not available in all states. Please see the policy for full terms, conditions and exclusions. Coverage examples are for illustrative purposes only. Your policy documents govern, terms and exclusions apply. Coverage is dependent on actual facts and circumstances giving rise to a claim. Next Insurance, Inc. and/or its affiliates is an insurance agency licensed to sell certain insurance products and may receive compensation from insurance companies for such sales. Policy obligations are the sole responsibility of the issuing insurance company. Refer to Legal Notices section for additional information.