It is customary in China to divide property insurance into three categories: property loss insurance, liability insurance and credit (guarantee) insurance.
Property insurance coverage 1: property insurance
Enterprise property insurance. It mainly covers property losses caused by fire or other natural disasters and accidents. At present, China's enterprise property insurance products include basic insurance, comprehensive insurance, property insurance and property all risks.
Loss of profits insurance. Loss of profits insurance covers indirect economic losses caused by natural disasters, fires and other accidents that the insured stops production or business for a period of time, that is, the loss of profits during the business interruption after the disaster and the necessary expenses that still need to be paid.
Family property insurance. At present, China's family property insurance products mainly include: ordinary family property insurance, family property old-age security, investment-guaranteed family property insurance and personal loan mortgage home insurance.
Means of transport insurance. The common types of transportation insurance in China are: motor vehicle insurance, ship insurance and aircraft insurance.
Cargo transportation insurance. Common types of cargo transportation insurance are: domestic waterway, land cargo transportation insurance, domestic air cargo insurance and import and export cargo transportation insurance.
Engineering insurance. Common engineering insurance includes all risks of construction, all risks of installation and machine damage.
Special risk insurance. Common types of special risk insurance include: offshore oil development insurance, aerospace insurance and nuclear power plant insurance.
Agricultural insurance. Agricultural insurance includes planting insurance and aquaculture insurance.
Property insurance coverage 2: Liability insurance
Liability insurance is an insurance whose subject matter is the civil liability for damages that the insured should bear according to law or the specially agreed contractual liability. Liability insurance can be underwritten separately or as an additional risk for other property insurance. The liability insurance that can be underwritten separately mainly includes public liability insurance, product liability insurance, employer liability insurance and occupational liability insurance.
Property insurance coverage 3: credit insurance and guarantee insurance.
Credit insurance covers a kind of credit risk. If the creditor requests to guarantee the credit of the other party, the insurance belongs to credit insurance. Common types of credit insurance include general commercial credit insurance and import and export credit insurance. Any insurance that the insured insures his own credit according to the requirements of the obligee belongs to guarantee insurance. Common types of guarantee insurance include contract guarantee insurance, product guarantee insurance and loyalty bonds.