All-Risk Coverage

All-risk coverage, also referred to as open peril coverage, provides insurance against “all” losses except for those specifically excluded from the policy. Perils not covered will be listed in the Exclusions section of the policy document. Examples of perils not covered by an all-risk or open peril policy include acts of war, force majeure events, or floods (flood coverage is available through FEMA). Some policies may offer coverage for some exclusions for an additional premium, which would be found in the Endorsements section of the policy. It is vital for all policyholders to know exactly what is or is not covered in their current policy – the worst time to discover a gap in coverage is after suffering a loss.