Multiperil Policy Law and Legal Definition

Multiperil policy means an insurance policy that incorporates several types of losses such as losses arising from flood, fire, or wind. For example, a home owner’s policy that covers losses from fire, theft and personal injury is a multiperil policy. It is also called as named-perils policy. The term multiperil policy is the synonymous of all-risks insurance, which covers loss or damage to property from unintended circumstances that are not specifically excluded from coverage.