What is Property & Casualty Insurance?


In layman's terms, Property & Casualty insurance (P&C for short) is insurance that protects against property losses to your home, auto, or business and/or against legal liability that may result from injury or damage to the property of others.

If you have a home, an automobile or a business, chances are you own Property & Casualty insurance.

Why Pursue a P&C Business?


It comes down to one concept that many businesses tout, but on which few are able to deliver:

Residual Income

Consider these facts:

  • 47 states require a motor vehicle owner to carry a minimum level of liability insurance (VA, NH, and MS have options).

  • Unlike driving a car, you can legally own a home without homeowner's insurance. However, if you finance your home with a mortgage, your lender will most likely require you to have home insurance coverage to protect your home in case of damage caused by unforeseen circumstances, such as fires or natural disasters.

  • According to Forbes, there are 13 types of insurance a small business owner should have. The most common types of P&C coverage include general liability, property, and commercial auto.

As long as your clients (or referred agents) are paying for coverage, you continue to receive income. Why would they continue to pay? Because they have to.