Which peril is typically excluded under property policies?

The peril that is typically excluded under property policies is earthquake damage. Standard property insurance policies often cover a range of risks, including fire, lightning, and theft. However, damages resulting from earthquakes are generally excluded because they are considered to pose a higher and more unpredictable risk. Insurers tend to offer earthquake coverage as a separate endorsement or as part of a specific earthquake insurance policy due to the potential for widespread and devastating loss that such events can cause.

It's important for policyholders to understand these exclusions and consider additional coverage, especially in areas prone to seismic activity. This distinction is crucial for proper risk management and ensuring that individuals and businesses have adequate protection against various types of hazards.