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Simple English definitions for legal terms

open-perils policy

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A quick definition of open-perils policy:

An open-perils policy is a type of insurance policy that covers all risks except for those specifically excluded. This means that if something happens to your property that is not listed as an exclusion, you will be covered. It is important to read the policy carefully to understand what is and is not covered. Other types of insurance policies include basic-form policies, which offer limited coverage, and broad-form policies, which offer more coverage than basic-form but less than open-perils policies. Insurance premiums are the amount of money you pay for insurance coverage, and insurance rating is the process by which an insurer determines the premium for a particular risk. Insurance Services Office is a nonprofit organization that provides services and tools to the insurance industry.

A more thorough explanation:

An open-perils policy is a type of property insurance policy that covers all risks of loss or damage to the insured property, except for those specifically excluded in the policy. This means that any damage or loss to the property that is not specifically excluded in the policy is covered.

For example, if a homeowner has an open-perils policy for their house, and a tree falls on the roof during a storm, the damage would be covered by the policy. However, if the policy specifically excludes damage caused by earthquakes, and an earthquake damages the house, the damage would not be covered.

Open-perils policies are also known as all-risk policies, and they provide broader coverage than other types of policies, such as named-perils policies, which only cover specific risks that are listed in the policy.

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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