Whether the policy is open-perils or named-perils, the coverage it provides cannot be ascertained without considering the _____, which are those perils, risks, losses, and properties that are not covered in an all-risk policy.
A)exclusions
B)declarations
C)conditions
D)endorsements
E)riders

Question

Quizplus · Accepted Answer

Exclusions are specific perils, risks, losses, and properties that an insurance policy does not cover. Understanding what is excluded is crucial to determining the actual coverage of an open-perils or named-perils policy.

Whether the Policy Is Open-Perils or Named-Perils, the Coverage It