phrase · also: open peril, special form
all risk
In plain English
Coverage for any cause of loss except those specifically excluded.
The flip of named-peril. The burden is on the insurer to prove an exclusion applies, not on you to prove the cause is covered. Standard on dwelling coverage in HO-3 and on personal property in HO-5.
What it covers
All direct physical loss except causes specifically excluded by the policy. Common exclusions: flood, earthquake, war, intentional acts, wear and tear, ordinance or law (without endorsement).
What it does not cover
It is NOT 'unlimited' coverage. The exclusion list is real and important — read it.
Where it trips people up
Calling a policy 'all-risk' on a dec page doesn't mean it covers flood. Flood and earthquake are excluded from every all-risk form and require separate policies.
The technical version
An insurance form providing coverage for all direct physical loss to covered property except for causes of loss specifically excluded by the policy. Also called 'open peril' or 'special form.'