Personal lines insurance refers to insurance policies designed to protect individuals and families from financial losses due to various risks that can affect their personal lives and property. Unlike commercial insurance, which covers businesses and organizations, personal lines insurance is tailored for individual needs and typically includes several common types of coverage.
One of the most fundamental types of personal lines insurance is auto insurance. This coverage protects individuals against financial loss in case of accidents involving their vehicles. It typically includes liability coverage to pay for damage caused to others, as well as coverage for damage to the insured’s vehicle itself (comprehensive and collision coverage).