Homeowners Insurance Named & Unnamed Perils: What’s Covered, What Isn’t

Perils are risks that cause damage. For example, falling trees or water damage are considered risks or perils. Here at Allen Jones Insurance Agency in Seguin, TX, we’ll explain the difference between named and unnamed perils and some things they cover.

Named Perils

Named perils are risks specified in writing within the insurance policy, which means the peril will be covered. Anything named is not included, as everything listed in the policy is included by default. Theft and fire are prime examples of named perils.

Unnamed Perils

Also known as all-risk insurance, all-risk is the opposite of what we call named perils. Almost everything is covered under an unnamed peril policy that is more comprehensive than all risk coverage. Unexplained losses are also generally covered.

All Risks and Name Perils Under the Same Policy

It’s possible to have coverage that says all risks apply to your leasehold or building improvements, with named perils applying to your personal property. It’s also feasible to have an all-risk policy with a few property types considered named perils. This is why knowing more about this type of coverage is so important.

Exclusions and Additional Coverage

Items that are considered exclusions under a policy may have some limited coverage. Simple risks like normal wear and tear and depletion are excluded, though. However, add-ons known as endorsements or riders can help cover these costs. These can be useful to add on to just about any home policy.

Interested in Maximizing Your Home Insurance Coverage?

Are you trying to understand the complexities of named and unnamed perils in your home insurance policy? Don’t go at it alone. Contact one of our experienced agents at Allen Jones Insurance Agency in Seguin, TX, for more information.