What type of insurance is designed to cover damages to owned property?

Property insurance is specifically designed to cover damages to owned property. This type of insurance protects the policyholder's physical assets, such as homes, buildings, personal belongings, and other real estate, from various risks such as theft, fire, vandalism, and natural disasters. It provides financial reimbursement in the event of a loss, allowing individuals and businesses to repair or replace their damaged property.

Liability insurance, on the other hand, provides coverage for the insured's legal responsibilities to others for bodily injury or property damage, rather than for their own property. Health insurance covers medical expenses and does not relate to property damage at all. Casualty insurance involves a broader range of protections, often encompassing liability, but it may not specifically focus solely on owned property damage. Thus, property insurance stands out as the most appropriate choice for encompassing coverage for damages to owned property.