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The All Risks policy covers the property insured against loss or damage by fire theft or any other accident or misfortune not otherwise excluded under the policy whereas the Equipment policy is a "named perils" policy i.e. the policy will only cover loss or damage to the insured property caused by specific perils as named in the policy such as accidental collision or overturning or collision or overturning consequent upon mechanical breakdown or consequent upon wear and tear, fire, external explosion, self-ignition, lightning, burglary, housebreaking or theft. |
All Risks Insurance
