Property Insurance for Commercial and Home Owners


Property insurance covers loss in the event that damage, injury, or death occurs and the person who owns the property that caused or was involved in the event is liable for the cost of the loss. Today this type of insurance is usually bundled with liability, or casualty, coverage, which insures the loss incurred by a third party that is caused by the property or property owner.

  • Most property and casualty insurance sold in the Toronto, Canada are auto mobile and homeowners’ policies.
  • Automobile (also motorcycle, boat, and recreational vehicle) policies cover damages incurred when the policyholder is involved in a motor vehicle accident or injures a pedestrian with the vehicle.
  • Homeowners’ insurance covers property loss occurring because of fire, weather, burglary, or injury to a third party in the home.
  • Renters can purchase renters’ insurance to cover loss or damage to their belongings and living expenses while the home is being repaired, if the loss is due to one of the listed perils in the contract.
  • Please read our Property and Commercial Insurance FAQ’S for detailed information.


Homeowners’ and renters’ insurance often also cover a policyholder’s belongings when travelling or riding in a vehicle as well as personal liability, but may be covered only with a rider or endorsement. Property insurance riders can also be purchased to cover specific or expensive items, such as jewellery, electronic equipment, or antiques. Some areas of the country also sell policies or riders that cover losses occurring because of flood or earthquake — events usually considered “acts of God” and typically excluded from most policies.

  • Other types of property and casualty insurance include business interruption insurance and extra expense insurance.
  • People who own or operate businesses with staff and own or rent business property can purchase any number of property and casualty insurance policies to limit any and all risks to the business and the property.


Celebrities, musicians, and well-paid athletes often purchase special property insurance to insure their bodies or the parts of their bodies that generate their incomes. These are very specialized policies and sold by only a few carriers. An early example of this type of specialized property insurance policy was during World War II when Betty Grable famously insured her legs against damage or disfigurement.