There are two kinds of home insurance policies available today. One is the standard fire and special perils policy that covers 12 mentioned perils. This includes fire, flood, inundation, impact damage due to a third party vehicle, bursting of water tanks, and leakage from automatic sprinkler installations. Coverage could be further enhanced to include add-ons such as an earthquake and forest fire. Another policy is an all-risk policy, which covers the above perils and other unforeseen damages. An all-risk policy has just a few named exclusions, including pre-existing damage, collapse and war.

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