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Is “Lightening” a Named Peril in the Context of Property Insurance?
Oct 19, 2016
The peril of Lightning is included in nearly all policies whether “named peril” or of the “open peril” variety. In fact, named peril policies generally refer to the first peril insured as “Fire or Lightning” Lightning is a Named Peril because lightning strikes frequently result in fire. Fires is one of the causes of loss which led to the development Continue Reading
The peril of Lightning is included in nearly all policies whether “named peril” or of the “open peril” variety.
In fact, named peril policies generally refer to the first peril insured as “Fire or Lightning”
Lightning is a Named Peril because lightning strikes frequently result in fire. Fires is one of the causes of loss which led to the development of property insurance.
An Open Peril policy is broader in scope of coverage than a Named Peril contract. With an Open Peril policy, all causes of loss are covered, unless specifically excluded.
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