Broker Check
Property & Casualty Insurance

Property & Casualty Insurance

June 15, 2023

An important component of comprehensive planning is mitigating risks by using different types of insurance. This includes insurance for auto, home, business, life, long-term care and health. We can directly help our clients with life and long-term care insurance. But for the other types of insurance, we have a network of professionals that can help you.

We recently met with Ryan Fenchel, who is the Owner & President at Integra Insurance Services. Integra offers property and casualty insurance, as well as auto and business insurance. We had an excellent conversation about property and casualty insurance and decided this would be good information to share with all our clients.

We asked Ryan specific questions about property and casualty insurance, and we thought you might find his answers helpful.

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Q&A With Ryan Fenchel of Integra Insurance Services

What is the difference between property and casualty insurance?

Property insurance primarily covers damages to physical property such as buildings and belongings, while casualty insurance focuses on liability, covering injuries to individuals or damages to their property caused by the insured party. 

How does property and casualty insurance work?

Property and casualty insurance works by providing financial protection against damage to property and liability risks. Policyholders pay premiums, and in the event of covered losses, such as property damage or liability claims, the insurance company compensates them according to the terms and limits of the policy. 

What are common exclusions in property and casualty insurance?

Common exclusions in property and casualty insurance may include intentional acts, acts of war, nuclear incidents, normal wear and tear, certain natural disasters (e.g., floods or earthquakes), and specific types of personal property (e.g., fine art or jewelry) without additional endorsements or riders. 

How are property and casualty insurance premiums calculated?

Property and casualty insurance premiums are calculated based on various factors, including the insured property's value, location, construction type, risk exposure, claims history, coverage limits, deductibles, and the policyholder's credit score, among other relevant factors determined by the insurance company. 

Can I bundle different types of property and casualty insurance?

Yes, it is often possible to bundle different types of property and casualty insurance, such as combining home and auto insurance. Bundling can offer convenience, potential cost savings, and simplified management of policies, as well as potential discounts from insurance providers. 

What should I do if I need to file a property or casualty insurance claim?

If you need to file a property or casualty insurance claim, contact your insurance company promptly. Provide them with necessary details, such as incident information and documentation, and cooperate fully during the claims process. Follow their instructions and keep records of all communication and expenses related to the claim. 

What is the process to settle a property or casualty insurance claim?

To settle a property or casualty insurance claim, notify your insurance company, provide the necessary documentation, and cooperate during the investigation. The insurer will evaluate the claim, determine coverage, assess damages, and negotiate a settlement. Once agreed upon, they will issue a payment for the covered losses. 

State Farm and Allstate have stopped selling property and casualty insurance in California. What is the impact of this and what are my options now?

Regrettably, the repercussions of recent developments have significant implications for both our industry and the residents of California, as two of the leading property insurance providers (in terms of premium volume) have ceased writing policies in the state. Nonetheless, there are alternative options available for those affected by this situation. However, before delving into these alternatives, it is important to clarify that State Farm is currently not accepting new property insurance policies (including those for homes, rental properties, and commercial buildings), but they will continue to serve their existing homeowner clients. It is crucial to note that this may change, especially for individuals residing in wildfire-prone areas, as State Farm might opt to non-renew policies for such policyholders.

If you happen to reside in an area with wildfire restrictions and find yourself unable to secure homeowners coverage, there is an alternative worth considering. You can explore obtaining a FAIR Plan policy alongside a DIC (Difference in Conditions) policy to address liability exposures. We have been increasingly setting up this combination for our insured clients residing in regions prone to wildfires.

If You Want to Learn More

If you would like to learn more about property and casualty insurance or discuss your current coverage, you can contact Ryan and he is happy to discuss this with you. Ryan can also help you with auto and business insurance.

Ryan Fenchel, Owner & President
Integra Insurance Services
CA Insurance License: # 0B03650
Phone:  408-335-1206

If you have questions about any of your insurance policies and how they impact your financial plan, give your Wealth Manager a call.

As your Wealth Manager, we want to help you make smart decisions, so you can do the things that are most important to you and enjoy the journey. What gets us excited to jump out of bed every day is doing everything we can to help you achieve your goals!


Financial Journey Partners

Financial Journey Partners - Partners in Your Financial Journey®

Our Financial Journey Partners office is based in San Jose, California. We have clients that live in many states across the country. If you have questions about your investments or financial situation, call us to schedule time to talk about your specific situation.

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The views expressed by Ryan Fenchel and Integra Insurance Services, do not necessarily reflect the views of Mutual Advisors, LLC or any of its affiliates. Ryan Fenchel and Integra Insurance Services are not affiliated with Mutual Advisors or any of its affiliates.