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Insurance Definition: MULTIPLE PERIL POLICY

By Compuquotes Team on March 27th, 2008

MULTIPLE PERIL POLICY:

Definition:

  • A package policy, such as a homeowners or business insurance policy, that provides coverage against several different perils. It also refers to the combination of property and liability coverage in one policy. In the early days of insurance, coverages for property damage and liability were purchased separately.

Information provided by Insurance Information Institute

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