If you are someone who has suffered property damage or loss because of the negligence or carelessness of another party or because you were the victim of a fire or another disaster, such as a hurricane or a flood, you may be able to obtain recovery under your insurance policy or from the insurance company of the liable party.
Real property damages are physical or economic damages resulting from damages to a building, a house, a piece of land, or another form of real estate. Homeowners insurance, hurricane insurance, business interruption insurance, business property insurance, farm property insurance, and flood insurance are some of the types of insurance that cover damages to real property.
Personal property damages are physical or economic damages resulting from damages to personal property that is not real estate. Auto insurance, motorcycle insurance, boat insurance, and truck insurance policies usually provide coverage for physical injuries and damages to the motor vehicle of the policy owner or other parties. Homeowners insurance and renters’ insurance provide coverage for personal property items, such as jewelry, furniture, electronic items, fine art, and collectibles.