Multi-Peril Policy

This package policy should not be confused with a multi-line policy. This policy provides protection against a number of separate perils but all in the within the same line, not homeowners and automobile type of packages.

An example is a Comprehensive homeowners package which will have the widest form of coverage for your dwelling and contents. When insurance was first started for fire-type policies there was just a basic coverage outlined - Specified Perils. As society evolved our needs grew for more and the broad and comprehensive forms were added.

Be sure that you understand what form of policy you have. Under-insurance or self-insurance should be a choice, not a result of a misunderstanding.