Legal Definitions - multiperil policy

Multiperil Policy

A type of insurance policy that covers several types of losses, such as a homeowner's policy that covers losses from fire, theft, and personal injury.

• A homeowner's policy that covers losses from fire, theft, and personal injury.
• A business policy that covers losses from property damage, liability, and business interruption.

A multiperil policy is a type of insurance policy that provides coverage for multiple types of losses. For example, a homeowner's policy may cover losses from fire, theft, and personal injury. This type of policy is beneficial because it provides comprehensive coverage for a variety of risks. A business policy may cover losses from property damage, liability, and business interruption. This type of policy is important for businesses because it helps protect them from financial losses due to unexpected events.