01.Core Concepts

Personal property is insured for a direct physical loss if it is caused by one of the perils listed in the policy The peril must be the proximate cause of the loss Named perils include fire, windstorm or hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, vandalism, falling objects, etc. Coverage for theft is broad, but there are several exclusions: Theft by an insured Theft in or to a dwelling under construction Theft from any part of the premises rented to someone other than an insured