property-insurance

Vocabulary Word

Definition

'Property insurance' is a safety net that covers the cost of any damage to your house or property. So if there's a fire or someone breaks in and takes something, the insurance can help pay for it.

Examples in Different Contexts

Property insurance provides financial protection against damages to physical assets like homes and businesses. An insurance agent might advise, 'It's crucial to have property insurance to cover potential damages from natural disasters or theft.'

Practice Scenarios

Public-Policy

Scenario:

For people living in disaster-prone areas, proper insurance coverage can make a substantial difference in their recovery efforts in case of disasters.

Response:

I agree. Incentives could be provided to ensure more households in prone zones have property insurance coverage.

Tech

Scenario:

Our office is going to be filled with expensive new computers and servers. We need to be ready for any circumstances.

Response:

We definitely need to get property insurance. That way, we'll make sure our gear is protected from damage or theft.