Insurance terms can be confusing and they don’t have to be. A named peril on a homeowners insurance policy is defined as a risk used to describe the events or causes of loss that may create a claim under the insurance policy. A typical HO-3 policy covers the following named perils:
Lightning or fire
Hail or windstorm
Damage caused by aircraft
Explosions
Riots or civil disturbances
Smoke damage
Damage caused by vehicles
Theft
Vandalism
Falling objects
Volcanic eruption
Damage from the weight of snow, ice, or sleet
Water damage from plumbing, heating, or air conditioning overflow
Water heater cracking, tearing and burning
Damage from electrical current
Pipe freezing
If you were to have an issue or damage to your home as a direct result of the above mentioned perils your insurance policy will cover those damages. Supplement coverage is also available for sump pump backup in the event you lose power in your home. Identity fraud protection is also a supplemental coverage available to protect yourself from someone stealing your identity.
