Policies are named-perils and cover damage from windstorms, hail, snow, ice, and other natural disasters as well as losses from theft, vandalism, and fire.
These will be obviously expressed as canvassed in the strategy. These policies typically do not include coverage for damage caused by flooding or earthquakes, but coverage for these events can be purchased in addition to the standard policies.
In the event that someone is hurt on your property, liability coverage typically comes standard with named-perils policies.
If you have an open-perils policy, unless those structures were specifically excluded by the policy, all storm-related losses to a dwelling or other structures, such as fencing, a guest cottage, or a detached garage on your property, would be covered.
You can also purchase a policy that combines the two types.
A wide range of property losses are covered by all-risk insurance, with the exception of those specifically excluded by the policy.
Because it can be a source of confusion for customers, the insurance industry is moving away from using the phrase “all risks.” Instead, terms like “special perils” and “open perils” are being used.
