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Simple English definitions for legal terms

open-perils policy

Read a random definition: judicia populi

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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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