Plain-English meaning
A cause of loss, such as fire, theft, wind, or another event described by the policy.
Why it matters
Coverage analysis begins by matching the cause of damage with the form, exclusions, and conditions.
Where you may see it
Named-peril lists, exclusions, endorsements, claim reports, and catastrophe deductibles.
What to verify
How the policy defines the event, whether it is named or open peril, and any separate deductible.
Do not confuse it with
A hazard, which is a condition that increases the chance or severity of loss.
For policy-specific meaning, read the definition and related provision in the issued policy.