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Property and Casualty 101
Guidebook

Property and casualty insurance

Question 3

Why do businesses need P&C coverage?

Each type of coverage serves a particular purpose.

  1. Casualty – Protects business assets from liability claims regarding property damage or bodily injury resulting from business operations or products.
  2. Property – Provides for financial protection for damaged property resulting from covered hazards or events. Property includes workers’ compensation, which pays for medical care and lost wages for employees who are injured on the job or affected by illness associated with the operations of the business.
PC Q3
note

Keep In Mind:

P&C insurance should be a key consideration for home-based businesses, too. You may think that your Homeowners’ Insurance Policy covers all of your business needs, but a standalone Business Owner’s Policy may provide needed protection against a covered loss, such as spoiled food from a breakdown of home refrigeration. Many factors and potential risks can affect your insurance needs. Working with a licensed insurance agent can help you review those risks and determine the right coverage for your home-based business.


Next Question: When do businesses need this coverage?

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All insurance products will be offered and sold only through Automatic Data Processing Insurance Agency, Inc., its licensed agents or its licensed insurance partners, 1 ADP Blvd., Roseland, NJ 07068. CA license # 0D04044. Licensed in 50 states. Automatic Data Processing Insurance Agency, Inc. is an affiliate of ADP, LLC. Certain services may not be available in all states. Certain services are provided through the carrier partners and an additional carrier fee may apply. ADP and the ADP Logo are registered trademarks of ADP, LLC. Copyright © 2016 ADP, LLC.