If you say that someone does something at their peril, you are warning them that they will probably suffer as a result of doing it. Anyone who breaks the law does so at their peril
A specific risk covered by an insurance policy, such as fire, flood, hail, theft, windstorm, or hail A homeowner's policy is often called a multi-peril policy because it covers you against many specific risks
This term refers to the causes of possible loss in the property field - for instance: Fire, Windstorm, Collision, Hail, etc In the casualty field the term Hazard is more frequently used
The perils of a particular activity or course of action are the dangers or problems it may involve. the perils of starring in a television commercial
A cause of loss that is covered by a policy, such as fire, wind, or smoke Replacement Cost When your insurance company pays your property claim for the amount required to replace your property, rather than the depreciated value of the item This will be specified in the terms of your policy