What does 'all-risk' coverage typically include in a dwelling policy?

'All-risk' coverage, often referred to as open peril coverage, is designed to provide a broad range of protections for a dwelling. This type of coverage typically includes any risk of loss to the property, except for those specifically excluded in the policy.

The essence of 'all-risk' lies in its expansive scope, as it covers multiple potential hazards that could lead to damage, including common risks such as theft, vandalism, and water damage, barring any stated exclusions. By insuring against all risks unless explicitly stated otherwise, policyholders benefit from a higher level of security and reassurance regarding their property.

This coverage is particularly advantageous as it simplifies the claims process; rather than needing to demonstrate that a specific named peril caused the loss, the insured has the broader protection of any risk not listed as an exclusion. This feature underscores the comprehensive nature of 'all-risk' policies, allowing for a more seamless and straightforward experience when facing unexpected incidents.