Property insurance provides financial reimbursement to the owner or renter of a structure and its contents, in the event of damage or theft. Property insurance can include homeowners insurance, renters insurance, flood insurance and earthquake insurance.

Property insurance also provides liability coverage in case someone other than the property owner or renter is injured while on the property sues the property owner/user.

Property insurance policies do not normally cover water damage caused by floods, tsunamis, drain backups, sewer backups, groundwater seepage, standing water and many other water sources. They also may not cover mold, earthquakes, nuclear events or acts of war, terrorism and other risks.