Property insurance is like home insurance but covers more than just houses. It protects homes, shops, offices, factories, or any other type of building you own. If your property gets damaged by fire, theft, flood, or storm, the insurance company helps you recover the loss.
Business owners use property insurance to protect their shops, machinery, and inventory. Landlords use it to cover rental buildings. This insurance helps you avoid big financial losses if something unexpected happens.
You pay a premium based on the value of your property and the type of coverage you want. The more valuable your property, the higher the premium. You can also add extra features like protection against riots or earthquakes.
Having property insurance is smart. It saves you from spending a huge amount of money if your property gets damaged. It also makes it easier to recover and rebuild quickly after a disaster.
