What type of insurance offers monetary benefits after unforeseen perils?

Casualty insurance is specifically designed to provide coverage for losses resulting from unforeseen perils such as accidents, theft, and damage to property that is not necessarily owned by the policyholder. This type of insurance typically covers liability for injuries or damages caused to others, as well as losses related to property and personal assets.

The core function of casualty insurance is to protect against the unforeseeable risks that can cause financial strain due to unforeseen events. Therefore, if a policyholder experiences a loss from a covered peril, they receive monetary benefits to help recover from the financial impact.

Meanwhile, other forms of insurance, such as liability insurance, primarily cover the costs associated with legal claims against the insured, rather than losses from unforeseen perils. Property insurance protects the insured's own property from risks but does not generally encompass the broader scope of liabilities that casualty insurance provides. Health insurance covers medical expenses rather than property or liability losses. Thus, casualty insurance stands out as the correct type of insurance that offers monetary benefits following unforeseen events.