What type of property insurance typically covers a variety of risks under one policy?

The correct choice is a package policy, which is designed to cover multiple types of risks under one insurance policy. This type of policy provides convenience and often cost savings compared to purchasing separate policies for each risk. Package policies typically include coverage for property damage, general liability, and additional coverages tailored to the needs of the insured, creating a comprehensive insurance solution.

In the context of real estate, a package policy is beneficial for property owners or landlords who wish to protect themselves against various potential issues, such as damage to the property and liability claims. It simplifies management of insurance needs by consolidating coverage into a single policy, making it easier for policyholders to understand their protections and for insurers to provide comprehensive coverage.

Other types of insurance mentioned, like liability insurance and general liability insurance, are more specialized and focus on specific liabilities rather than encompassing multiple types of coverage in one policy. Property insurance generally refers to coverage specifically for damage to physical assets, which does not encompass the broader range of risks that a package policy would cover.