A guide to casualty insurance

© cliff1066™ (Flickr) Travelers Tower
© cliff1066™ (Flickr)
Types of casualty insurance
Liability cover

This is included in casualty insurance and can be useful to home and business owners. Third parties visiting a home or business premises can sometimes get injured within the premise. Injuries of this nature are covered under a casualty insurance policy. Losses as a result of burglaries and armed robberies are also covered. Casualty insurance does not, however, cover fire and allied perils.

These should be insured under a different insurance arrangement.

Fidelity cover

This is also covered under a casualty insurance policy. Fidelity insurance covers losses due to dishonesty by employees. Fraud is a good example as many business organisations take this insurance so that they can be compensated in the event of loss of their business money due to fraud. In recent years there has been a growth in cases involving internet fraud and identity theft, this is also covered under a casualty insurance policy.

Flood insurance

Flood insurance is a specific type of casualty cover meant to protect property owners against the risk of flood damage. Items covered under this policy include household goods, cars and furniture. This cover can also extend to cover your personal property from natural disasters like earthquakes and other natural disasters.
Other losses covered
Vehicle insurance

This is another type of casualty insurance which has got the following covers; property damage, collision, bodily injury liability and own injury liability. Damage to property belonging to third parties and bodily injury are therefore covered, should you be found guilty in an accident. Any damage to your car is also covered.

Purchasing casualty insurance

There are certain things to consider when buying casualty insurance. The value of property, the degree of risk and the type of property you own. These things will determine the amount of insurance premium that you pay. Purchasing the minimum coverage is usually enough to protect your assets. There are a variety of insurance service providers providing casualty insurance so it is always important to compare quotes.