Casualty Insurance

You probably have this insurance and you don’t even know it. Most homeowners and car insurance policies have this type of coverage. It's basically what you think of as insurance, at least the kind of policies that don't fall under more specific categories, like life insurance, health insurance, or property insurance.

You have your buddies over for Sunday football, and you say you’ll be right back because you need to run to the store to grab some queso and refill your cooler with some cold ones. Except...in your excitement and fantasy football-induced haze, you forget that your best friend has parked his new Jag behind you, and yeah...bang...damage to someone else's property. But don’t worry: casualty insurance to the rescue. The insurance company will cover your whiplash, a new car for your buddy.

It's not all good, though. You’ll probably see an increase in the cost of your insurance. Next time, check your mirrors.