Named perils for home owner's insurance.

a peril is the cause of your financial lossEver wonder what a "peril" is? When it comes to insurance your definition of peril may be different from that of your insurance company's definition. To an insurance company a peril is the cause of your financial loss. When you buy home owner's insurance you will have coverage on "named perils". That means not all causes of financial loss are covered. Rather, only the perils that are named / listed are covered. Your insurance company should provide you a detailed list of these named perils, as well as perils that are not. There is a standard list of perils that are covered, and more often than naught you can buy additional coverage for other risks you would like insured. For example, sewage backup is not covered under the typical home owner's policy, but you can buy what is called an "endorsement" (additional coverage) for an extra cost.

Named perils typically and examples include:
  The propane tank attached to your grill explodes.
Damage from riots or civil commotions
  There is a riot in your neighborhood and your home is damaged.
Damage from aircraft including spacecraft
  Parts of an airplane fall through your house.
Windstorms or hail
  Hail damages your windows.
Fire or lightning
  Power surge from lightning destroys your computer.
Impact from vehicles
  Neighbor drives their car into your front porch.
Sudden and accidental damage from smoke
  Smoke from a grease fire.

Tips for filing a home insurance claim.

Vandalism or malicious mischief
  Your house is spray painted.
Theft (there are many exceptions - see your agent)
  You are robbed.
Falling objects
  A gutter falls off your house and breaks the railing on your deck.
Weight of ice, snow, or sleet
  Weight of ice tore gutters off of house.
Accidental discharge of water or steam
  Water line on refrigerator bursts and spills water onto floor.
Accidental tearing, cracking, burning, or bulging from steam or hot water
  Hot water heating system bursts.
  Your pipes froze and then burst.


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