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Demystifying Perils in Insurance Policies

Homeowners’ insurance is intended to protect you from unforeseen events such as fire or flooding, for example. There may be disasters, however, that aren’t covered. You can find a list of various kinds of risks that your insurer may or may not protect if you look at the policy terms. It is important to recognize the concept of peril to ensure that you are covered in the event of an emergency.

In insurance, the word ‘risk’ has a simple meaning. A risk is an event that results in harm to your home or property. It’s safe to say that a homeowners’ insurance policy is essentially peril insurance considering it is designed to compensate losses and risks from hazards. Some cases may include the aforementioned fire and flooding, windstorms, tornadoes, lightning, and even burglary.

There is also named perils and all perils to be aware of. The former is all the perils mentioned in the policy while the former is a more general type that may cover more. In the case of named perils, whatever isn’t mentioned isn’t covered while all perils coverage is a bit trickier to understand. Perils that are typically not covered include sewer backups, earthquakes, and wear and tear, to name a few.

This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys or a Miami insurance claims attorney and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.