An approach to property insurance that covers all direct damage to property except damage caused by perils specifically excluded is called the all-risk approach.

Question

Quizplus · Accepted Answer

The statement is true. The all-risk approach is a type of property insurance that covers all direct damage to the insured property except for the perils specifically excluded in the policy. This type of coverage offers broader protection compared to the named peril approach, which only covers damage caused by perils specifically listed in the policy.

An Approach to Property Insurance That Covers All Direct Damage