multiple peril insurance

Definition

Insurance policy designed to provide comprehensive property damage coverage. Other property insurance policies only provide comprehensive coverage for a specific type of property damage. For example, if a person has flood insurance, but the damage that was done to their property was actually done by the wind, they would not be totally covered. Multiple peril insurance seeks to eliminate the possibility that the insurer would not be covered by combing popular property damage coverage into one policy.
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multiple ownership multiple rates of return