Which insurance type provides coverage for damage to other people's property occurring on the insured's property?

Property Damage Insurance is specifically designed to cover damage caused to other people's property due to incidents that occur on the insured's property. This type of insurance is essential for property owners and landlords as it provides financial protection against claims or lawsuits that may arise when someone else's property is accidentally damaged while on the insured's premises.

For example, if a tenant accidentally spills a substance that damages a neighbor's car parked nearby, Property Damage Insurance would cover the costs associated with repairing that damage. This form of insurance helps protect the insured from financial liabilities, allowing them to manage risks associated with property ownership and everyday incidents that could lead to claims from others.

In contrast, Bodily Injury Insurance generally covers medical expenses and other costs incurred by individuals who get injured on the insured's property, Workers Compensation focuses on employee injuries sustained during the course of employment, and Fidelity Bonding is a type of insurance that protects against losses caused by employee dishonesty or theft. Each of these other options serves different purposes and does not directly address the issue of damage to another person's property.