| Property and casualty insurance takes care of many | | | | these open peril circumstances. People on the west |
| risks to the individual or the business's property, such | | | | coast may want to be conscious of earthquake |
| as theft, damage, loss of money, furniture, machinery, | | | | dangers; people in the south may consider tornado |
| records, even trademarks, brand names, and supplies. | | | | dangers, while people in Hawaii may have the potential |
| There are certain particular insurance policies available | | | | danger from volcanic activity. |
| which cover natural disasters like earthquakes, fires, | | | | The property insurance premiums may be lowered if |
| and floods which damage your residence or business. | | | | one has a positive claim history. Costs of property and |
| Your property can get insurance for multiple or specific | | | | casualty insurance may be reduced if one takes smart |
| dangers. You will be asked to identify very specifically | | | | and proper precautions to avoidable damages. |
| what was lost in the incident. An example being, your | | | | Examples being, smoke alarms, security cameras or |
| house burns down, you may make your claim under | | | | personnel, flame retardant furniture, flame resistant |
| "fire disaster property insurance", so long as you | | | | building materials. |
| explicitly asked to have your house insured from fires. | | | | Many businesses and companies will often choose to |
| Other disasters very commonly covered: lightning, | | | | insure their properties with what is called a BOP or |
| flood, explosion, earthquake, and theft. One should | | | | business owner insurance policy. Property and |
| consider the potential dangers of their property and | | | | casualty insurance, and liability insurance get combined |
| location to decide upon a sound property and casualty | | | | into a single policy, to create these business owner |
| insurance option. If careful planning is not used, you | | | | policies. Some of the BOPs offer added expense |
| may find unnecessary expenses for insurance you | | | | interruption insurance. There is an option for "added |
| don't really require. | | | | expense insurance," this giving you money that covers |
| If you acquire what are called "open perils", these | | | | short term moves after incidences covered by the |
| cover all the causes of damage and loss, which are | | | | policy. This type of insurance will cover moving costs |
| not excluded by your policy. Unless the contract denies | | | | due to something like a flood. Interruption insurance |
| it, you should be able to obtain assistance from the | | | | covers losses of profits in case of interruptions, like |
| "open peril" insurance for almost all instances. If you | | | | requirements to retrofit. |
| decide to refuse coverage for floods, obviously you | | | | BOPs typically provide less coverage compared with |
| won't receive reimbursements for damages caused to | | | | traditional property and casualty insurance, albeit |
| your home or business by flooding. You will find these | | | | convenient. So this is why many businesses and home |
| items on the list of exclusions to open perils: | | | | owners decide to opt for additional coverage, as |
| earthquake, war, nuclear incidents. Your property might | | | | every location and situation may require a different |
| be susceptible to such events, and you will be able to | | | | level of care and caution. Be smart. |
| purchase specified property and casualty insurance for | | | | |