Which of the following statements is true regarding property insurance?

Property insurance is designed to provide financial protection against losses that may occur to insured property due to covered perils, such as fire, theft, or natural disasters. The correct statement indicates that the primary function of property insurance is to offer financial assistance after a loss event. This means that when a covered event occurs and results in damage or loss, the policyholder can receive compensation to repair or replace the lost property, helping them recover from the financial impact of the event.

The other statements do not accurately reflect the nature of property insurance. For instance, property insurance does not protect against all types of losses without exceptions, as there are specific exclusions in every policy. Additionally, a policyholder's claims history can significantly affect their premiums and eligibility for coverage, making the notion that it is not affected by this history incorrect. Lastly, property insurance does not cover emotional distress; it is strictly concerned with tangible property damage and financial losses associated with that damage.