Okuzeka
Insurance vocabulary · Coverage & Exclusions

Peril

Meaning in insurance, with examples

/ˈperəl/nounCommon term

In insurance, peril means: A specific event or cause that can lead to a loss, such as fire, flood, storm, earthquake or theft.

In Turkish: riziko, tehlike, hasar nedeni

How it is used

A technical word in property insurance. A policy either lists named perils or covers 'all risks' except the exclusions. Professionals talk of insured perils, natural perils and additional perils such as earthquake.

Example sentences

  1. The policy covers named perils only: fire, lightning, explosion and storm.

  2. Flood is one of the perils the factory is most exposed to.

Common collocations

  • named perils
  • insured peril
  • natural perils
  • additional perils
  • riskThe chance that something bad, such as an accident, illness or damage, will happen; in insurance it can also mean the person or property being insured.
  • exclusionA situation, cause or type of loss that a policy clearly says it does not cover.
  • coverageThe protection a policy gives: which risks, losses and amounts the insurance company will pay for.
  • property insuranceInsurance that covers buildings, equipment, stock and other physical assets against damage or loss from events such as fire, flood, storm and theft.

More terms: Coverage & Exclusions

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This page explains English vocabulary for learners. It is not financial advice.