A peril is the cause of a loss. Example: fire is a peril.
Not all perils are insured. One must read their contract to know which are or are not covered. Some policies are known as "all risk" -- which means they cover all perils not excluded by the policy. So one must carefully read the section labeled "EXCLUSIONS" to know what is not covered. If it's not in that list, it is covered.
Posted: Mon Jun 25, 2012 10:35 am Post Subject:
A peril is the cause of a loss. Example: fire is a peril.
Not all perils are insured. One must read their contract to know which are or are not covered. Some policies are known as "all risk" -- which means they cover all perils not excluded by the policy. So one must carefully read the section labeled "EXCLUSIONS" to know what is not covered. If it's not in that list, it is covered.
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