What Do Insurance Companies Do With Property?

You would need to be more specific with your query as insurance typically is taken out in order to protect your property.  For instance property insurance typically offers protection against the various risks to property, which could be anything from fire to weather damage. Thus specialized types of insurance come under this category.

A mortgage, on the other hand, is a way of using your property as security (that is either real or personal property) for payment of your debt. There are different types of mortgages such as a mortgage by demise wherein the creditor becomes the actual owner of the person's mortgaged property until such time as the loan is fully repaid.

In a situation of mortgage by legal charge (which is more common), while the debtor retains legal ownership of his/her property, the creditor has enough rights to permit them to impose their security. This would include rights to take custody of the property or even sell it.