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ArticlesNamed Perils vs. All Risk
I have named perils coverage on my contents in storage. What does this mean?
ALL RISK vs. NAMED PERILS – Named perils include the following, and there is no coverage to any damage done to items insured unless they fall specifically within the list below: Fire or lightning; explosion; smoke; falling object; impact by aircraft or land vehicle; riot; vandalism or malicious acts; water escape, rupture, freezing; windstorm or hail; glass breakage; transportation; theft, including damage caused by attempted theft. There are more detailed definitions of each item listed in your policy, and you should be aware of what they are. For example, most policies define smoke as “due to a sudden, unusual and faulty operation of any heating or cooking unit in or on the premises”. If your home fills up with smoke from the fireplace or something burning in the oven … it won’t be covered.
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