Types of Property and Casualty Policies
Personal lines
The personal auto policy has six parts: A liability, B medical payments, C uninsured/underinsured motorists, D damage to your auto (collision and other-than-collision), E duties after an accident, F general provisions. Key extensions: a newly acquired auto gets coverage for a limited window (often 14 days for collision, longer for liability), and a non-owned auto is covered while the insured drives someone else's car with permission. A homeowners policy bundles property and liability; a dwelling policy is property only.
Commercial lines
The businessowners policy (BOP) packages property and liability for small, low-hazard risks - apartments, offices, retail - and is ineligible for large or high-hazard operations. The commercial general liability (CGL) is occurrence-based and covers premises, operations, and products. The business auto form uses numbered symbols to designate covered autos. Umbrellas sit above auto, general liability, and employers liability and may drop down for some losses; excess follows the underlying form exactly. Workers compensation pays statutory benefits regardless of fault. Inland marine covers property in transit and mobile equipment; crime covers employee dishonesty; equipment breakdown covers mechanical failure; difference in conditions fills gaps left by standard exclusions.
Flood
The NFIP imposes a 30-day waiting period in most cases and covers building and contents separately. No homeowners policy covers flood.
Traps
Livery, delivery, and racing exclusions decide many auto questions. A BOP will not cover a high-rise office tower or an explosives manufacturer. UM/UIM does not pay to repair the insured's own vehicle - that is collision.
Rule of thumb
Match the risk to the form, then to the endorsement. If the exposure is excluded on the base policy (flood, earthquake, employee injury), the answer is a separate policy, not a higher limit.