What’s The Difference Between All-Risk, All-Perils, Designated-Risk, And Named-Perils Coverage?

All-risk coverage (also known as all-perils coverage) insures your building and/or belongings against common risks (like loss, theft, and damage due to fire) and clearly lists what’s excluded.

Designated-risk (or named-perils) coverage only insures your building and/or belongings or what is clearly listed in your policy. Anything not listed in the policy is not covered, so for example, if collapse is not listed on your policy, you will not be covered if your roof collapses under the weight from snow.