open perils

Definition of "open perils"
  1. Refers to an insurance policy that provides coverage for all types of risks and losses, except those specifically excluded in the contract
How to use "open perils" in a sentence
  1. The business owner decided to opt for open perils coverage to ensure broad protection.
  2. With open perils insurance, the car damages would be covered unless noted otherwise in the contract.
  3. Open perils coverage provided a sense of security knowing that all losses, not stated otherwise in the policy, are covered.

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