All-risks is a description often used for broad property or cargo wording that starts with an accidental-loss basis and then applies exclusions. It does not literally insure every event, item, location or cause of loss.
The distinction that matters
A broad insuring clause and a named-perils policy use different structures, but either can contain conditions that determine a claim. Read the actual contract rather than relying on the marketing label.
What to check
- The insuring clause and insured property.
- Excluded causes and types of damage.
- Locations, transit and territorial restrictions.
- Limits, excesses and security conditions.
Example to discuss
Ask the insurer to identify the clause for a dropped item, theft and gradual deterioration separately; the phrase all-risks does not answer all three questions.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.