Definition - What does Insured Peril mean?
An insured peril is an event that can cause damage or loss to a property but is covered by an insurance policy that pays for the loss or damage if it occurs.
Insuranceopedia explains Insured Peril
Property insurance can either be named or comprehensive. In a named perils policy, only the perils specified in the contract are covered. In the more comprehensive insurance (called an all perils policy), the coverage is broader but there are still events that are considered exclusions.
An insurance company might deny coverage for a particular peril because of its high likelihood of occurring. For instance, in a flood-prone area, flood coverage may be considered an exclusion.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.