What is All Perils Insurance

Glossary - Letter - A

All perils insurance policy is an insurance policy that would cover all the risks unless these are explicitly excluded in the policy text (with a few exclusions such as nuclear disasters or acts of war). Examples of different perils in home insurance are fire, hail damage, flooding, earthquake, theft, etc.

Opposite to an all perils insurance policy is a named perils insurance policy (also called “specified perils policy”) that covers all only those perils that are explicitly mentioned in the policy. These policies are typically cheaper than all peril policies.

Specifically for condo insurance policies: examples of typical perils are falling objects, water escape, smoke, windstorm, hail, fire, lightning, rupture and freezing pipes and several other perils. Don’t forget that your locker is often covered under your condo insurance policy as long as you informed your insurer about it. Here you can find out more about average condo insurance rates in Canada.

  • Interested to pay as little as $15/month for home insurance?
  • Get a free quote from our partner in 10 minutes and start to save
  • Include into your policy all important coverage such as e.g. sewer back up

Interested in Home Insurance?
Get a free, no-obligation quote

We compare rates from over 20 insurers to show you 3 best quotes

Get a Home Insurance quote now. Start saving.