All Risks

All risks is an insurance coverage format where the policy protects property against sudden physical loss or damage unless the cause is specifically excluded. The term does not mean that absolutely everything is covered. It means the policy starts with broad protection, then narrows it through exclusions, limits, deductibles and duties of the insured.

In international insurance language, all risks is often called open perils. It is different from named perils. With named perils, the insured checks whether the event is on a closed list, such as fire, explosion, theft, storm or another listed cause. With all risks, the main question is whether the event is excluded, whether policy conditions were met, and whether the loss fits the agreed limits.

In Uzbekistan, the wording should be read through the actual insurance contract. Insurance risk is tied to an event insured against. In practice, even an all risks policy still needs a sudden event, evidence of loss, compliance with the policy and no applicable exclusion.

What to check in an all risks policy:

• insured objects: building, equipment, stock, vehicle parts or other property;
• exclusions: wear and tear, corrosion, intentional acts, war, seizure, pre-existing defects;
• deductible, per-event limit and aggregate limit;
• territory: address, route, country or other covered area;
• documents required for a claim.

For car owners, a similar logic appears in voluntary car protection. KASKO may cover road accidents, fire, theft, glass damage and other events under the selected program. EURO KASKO lets the client build protection around selected car parts. But all risks is not the same as any KASKO policy: covered causes, exclusions and limits always depend on the contract.

A common mistake is to rely on the coverage name alone. In real claims, exclusions and claim procedure matter more. If damage comes from gradual wear, a manufacturing defect or misuse, the insurer may reject the claim even under broad coverage. If the event is covered but the loss is below the deductible, there may also be no payment.

All risks also does not replace additional risks. Some events can be added by endorsement, while others are excluded and cannot be insured under the policy. Before buying, compare all risks with named perils, understand the possible insurance payout, and check how the policy works in a major loss or total loss.