Which of the following best describes property insurance?

Property insurance is designed specifically to protect individuals and businesses from loss or damage to their physical assets, which could include homes, commercial buildings, personal belongings, and other forms of property. This type of insurance provides financial compensation for a variety of risks, such as theft, fire, vandalism, or natural disasters. By covering these potential losses, property insurance helps policyholders manage the financial impact of unforeseen events that could compromise their property.

The other options refer to different aspects of insurance and do not correctly define property insurance. For example, personal liability coverage, which is mentioned in one of the incorrect options, is a separate aspect of insurance that protects against legal claims for damages or injuries caused to others, rather than covering damage to the insured's own property. Additionally, property insurance applies broadly and is not limited to business properties, as it encompasses personal property as well. Focusing only on physical injuries is also more aligned with liability or health insurance rather than property insurance.