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Suppose the policy states that it covers the peril that caused the damage, and the policy covers the item(s) damaged by that peril, and no exclusions seem to apply to the situation.
Your home insurance policy type will determine whether or not your dwelling and personal property are covered on a named or open peril basis. Generally, perils are covered as: HO-2: Named perils ...
An open perils policy protects you against any loss unless the peril is explicitly listed as an exclusion, such as damage caused by flooding or earthquakes. An HO-2 insurance policy covers ...
An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
When a policy is covered for “named perils,” your home is only covered for the specific causes of loss listed on your policy’s declarations page. Examples of named perils on an HO-1 policy ...
Peril of Hope; Questioning Faces; Does No One at All Ever Feel This Way in the Least? The Bad Island—Easter; Our Doom to Bloom; The Objection to Being Stepped on; A Wishing Well; How Hard Is It to Keep from Being King When It's in You and in the Situation; Lines Written in Dejection on the Eve of a Great Success; The Milky Way Is a Cowpath ...
Insurance contracts are governed by the principle of utmost good faith (uberrima fides), which requires both parties of the insurance contract to deal in good faith and in particular, imparts on the insured a duty to disclose all material facts that relate to the risk to be covered. [12]
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