All Risk Inusrance Claims
Interstate Public Adjusters, LLC
Insurance Consulting Service, Public Adjusters, Insurance Claim Settlement
There’s a good reason all-risk insurance coverage — which is also known as "all peril" or "open peril insurance" — can be so difficult to understand. The truth is that the phrase "all risk" is actually somewhat misleading, because even with a very good all risk (or open peril) policy, you’re still not covered from all risks. Not even close. (Welcome to the insurance business!)
Here’s how all risk insurance — a form of property insurance — works in practice: Unlike most policies, which will name the specific risks you’re being insured against (flood insurance, for instance, or earthquake insurance), an all risk or open peril policy will only list the excluded risks. (That is, the risks it won’t cover.)
Just as an example, an all risk policy listing earthquakes and floods will cover every possible type of risk, with the exception of damage caused by earthquakes and floods. And so "open peril" insurance, you might say, stands in direct contrast to "basic" or "named peril" policies that tell you exactly what sort of property damage they will cover.
If a specific risk isn’t excluded from an open peril policy, it generally will be covered. These risks can include anything from unintentional liquid spills and rain coming through an open window to a hot appliance burning a countertop, or any other number of accidental household mishaps.
To help you determine if your damage is cover by your open peril policy, please contact Interstate Public Adjusters for 24 hour assistance. We are licensed in Pennsylvania, New Jersey and Florida.
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