All Risk Insurance

(redirected from Multiperil Policies)

All Risk Insurance

Marine cargo insurance which covers most perils except strikes, riots, civil unrest, capture, war, seizure, civil war, piracy, loss of market, and inherent vice.

All Risk Insurance

An insurance policy that covers all possible claims not specifically excluded. All risk insurance is found only in property insurance. Homeowners insurance in sometimes all risk insurance. If one's homeowners insurance is an all risk policy and the house burns down, the insurance policy covers it unless the agreement states categorically that it will not cover destruction by fire. All risk insurance is usually quite expensive.
References in periodicals archive ?
Residential multiperil policies may go up no more than 4.
Any such effort would involve a rethinking of the federal flood insurance program and new multiperil policies to cure the ills of so many homeowners who ended up without coverage in 2005 when disaster struck.
Auto liability and physical insurance are its biggest lines, with homeownerM worker's comp and commercial multiperil policies each also generating several million dollars in net premiums in 1989.
In every state reporting damage, State Farm has the largest market share of homeowners multiperil policies, according to A.