What does "property insurance" provide coverage for?

Property insurance is designed specifically to provide coverage for tangible assets, protecting them against various risks such as loss or damage due to events like fire, theft, vandalism, and natural disasters. This type of insurance applies to physical items such as homes, commercial buildings, personal belongings, equipment, and other property.

The focus on tangible assets means that property insurance directly pertains to the physical aspects of the insured's possessions, ensuring that the policyholder can recover or repair their property after a covered loss. This coverage gives peace of mind to property owners by safeguarding against unexpected events that could lead to financial loss.

In contrast, life insurance covers the financial impact of an individual's death, medical expenses don't fall under property insurance but rather under health insurance, and liabilities are addressed through liability insurance, which covers legal responsibilities from actions taken using tangible assets. Thus, the unique focus of property insurance on tangible assets makes the correct answer clear.