What does property insurance typically provide protection against?

Property insurance primarily provides protection against losses related to physical assets, including circumstances in which property is stolen, damaged, or destroyed. This type of insurance is designed to cover a variety of risks that an individual or business might face regarding their property, such as theft, fire, natural disasters, and vandalism. It helps ensure that policyholders are financially protected from significant out-of-pocket costs that could arise from these incidents, enabling them to repair or replace their damaged or lost property.

The focus of options A, C, and D does not align with the core objectives of property insurance. For instance, financial loss due to medical expenses relates more to health or medical insurance. Similarly, negligent acts that cause bodily harm pertain to liability insurance, while retirement savings risks are typically associated with retirement planning or investment products rather than property insurance. Thus, option B accurately captures the essence of what property insurance is intended to cover.