What Is Property Damage Insurance?
Insurance can serve as a vital safeguard, protecting individuals and businesses from unexpected financial losses. When it comes to property damage, insurance can offer a financial safety net by covering repair costs or replacement expenses. Whether it’s damage caused by severe weather, accidents or vandalism, having the right insurance policy can offer peace of mind and financial protection.
What Are Different Types of Property Damage? 
The following are common types of property damage:
- Theft and vandalism damage
- Water and freeze damage
- Fire damage
- Wind and hail damage
- Tree damage
- Sinkhole damage
- Hurricane damage
- Lightning damage
What Are Types of Property Damage Insurance?
The following are types of available property damage insurance:
- Auto insurance typically has a property damage coverage component that can help pay for damage to another person’s property if you’re at fault in a car accident. It may include damage to other cars, buildings, structures (like lampposts and fences) and government property.
- Homeowners insurance can offer protection for your home and its contents. It includes dwelling coverage (for house damage) and personal property coverage (for belongings). Moreover, it can offer financial coverage for personal liability resulting from accidental injuries or property damage caused by you or other household members.
- Renters insurance can offer financial coverage for personal property, liability, and additional living expenses in case your rented property becomes uninhabitable due to damage.
- Flood insurance can financially cover damage caused by floods, which is not typically included in standard homeowners insurance. It’s essential for properties in flood-prone areas.
- Earthquake insurance can offer financial coverage for damage resulting from earthquakes, which is also usually excluded from standard policies.
Property Damage Insurance Options in Homewood, AL
Contact Servi-Express to discuss property damage insurance options.