Open Perils
Insurance Glossary
A coverage basis under which every cause of loss is covered except those the policy specifically excludes. Standard homeowners forms use it for the dwelling and other structures, with exclusions for flood, earth movement, and ordinary wear and tear. Sometimes called all risk, it puts the burden on the insurer to point to an exclusion in order to deny a claim, which is the reverse of a named perils basis.
This content is for general informational purposes only and is not insurance, legal, or financial advice. Coverage, exclusions, eligibility, and pricing vary by insurer, by policy, and by state, and only the policy documents control what is covered. Always confirm the details of any coverage with a licensed insurance agent or the issuing carrier before you buy.