Comprehensive Coverage (this is the coverage Ogilvy & Ogilvy normally recommends when available)
		Broad Coverage
		Standard Coverage

The difference between the three is found in the definition of insured perils (i.e. what is covered). Generally speaking, these include Building Coverage, Contents Coverage, Standard "Named Perils", "Named Perils", Broad "All Risk", Comprehensive "All Risk" and "All Risk".

There are two basic approaches used in defining coverage in a home policy:

The first is "NAMED PERILS"
This type of policy is based on the adding approach. Starting from no coverage, perils are added which are covered under the policy. Therefore, to check if coverage applies in a particular circumstance, one must verify that the cause of loss is an insured peril. "NAMED PERILS" can include:

		Fire or Lightning
		Explosion
		Smoke
		Falling Object
		Impact by Aircraft or Land Vehicle
		Riot
		Vandalism or Malicious Acts
		Water Escape, Rupture, Freezing
		Windstorm or Hail
		Transportation
		Theft, Including Damage Caused by Attempted Theft

Depending on the Insurance Company, some of these coverages may not be included and/or other coverages may be added to this list - review your own wording for clarification.

The second approach is called "ALL RISK"
This type of policy takes the opposite approach to defining coverage. The initial assumption is that All Perils are covered. The coverage is then limited by exclusions. The reason this backwards approach is used is because it is easier to list 20 exclusions than it is to list 50 perils insured.  At Ogilvy & Ogilvy, the “All Risk” coverage is the preferred recommended option when available and all acceptability conditions are met.

The line diagram below helps to illustrate the relative coverages afforded by these two types of wordings.

NAMED PERILS: Coverage increased from 0% by adding insured perils.
ALL RISKS: Coverage decreased from 100% by adding exclusions.

The same coverage definitions apply to Tenants and Condominium insurance but without the building coverage.