ADDITIONAL PERILS Meaning and
Definition
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Additional perils refer to unforeseen risks or dangers that are not covered by an existing insurance policy. These perils are events or circumstances that are not explicitly stated in the policy coverage, but can still cause damage or loss to the insured property or individual. In other words, they are risks that are not typically included or considered by the insurance company when issuing the policy.
Additional perils can vary depending on the type of insurance coverage. For example, in property insurance, additional perils might include events such as earthquakes, floods, or acts of terrorism, which are not covered by standard policies unless specifically added as an additional coverage. Similarly, in health insurance, additional perils might encompass certain medical conditions or treatments that are excluded from the policy coverage.
Understanding the scope of additional perils is important for individuals or businesses seeking insurance coverage. It allows them to identify any potential gaps in their coverage and make informed decisions about enhancing their policy with additional provisions or endorsements to protect against specific risks. By adding these additional perils or specific coverages to their policies, insured individuals or businesses can ensure that they are financially protected from a wider range of unexpected events or dangers.
Etymology of ADDITIONAL PERILS
The term "additional perils" does not have its own specific etymology as it is a combination of two common words: "additional" and "perils".
"Additional" originated from the Latin word "additionalis", derived from the verb "addere" meaning "to add". "Addere" is a combination of "ad" meaning "to" and "dere" meaning "to put".
"Peril" comes from the Old French word "peril" or "perille", which has roots in the Latin word "periculum" meaning "trial, risk, danger".
Therefore, when combined, "additional perils" suggests the idea of extra risks or dangers that are added onto an existing situation.
