An all risk property insurance policy comes with a compulsory deductible it means at the time of claim the insurer will not settle the entire claim amount and a certain portion would have to be paid by the policyholder it is called compulsory deductible a policyholder can voluntarily opt for a higher voluntary deductible and get lower premium rates as the policyholder agrees to share the . Insurance is given by way of an insurance policy which is a contract whereby a type of risk is transferred from the insured party to the insurance company in exchange for payment of a premium. Contractors all risks car insurance is a non standard insurance policy that provides coverage for property damage and third party injury or damage claims the two primary types of risks on . Aba tort trial and insurance practice section the brief spring 2014 insuring against many but not all risks an overview of the all risk policy by john n love and micah jm knapp john n love is a partner in the boston office of robins kaplan miller ciresi llp he represents insurers on property and liability policy coverage issues and handles reinsurance disputes micah jm knapp . Insurance provides financial protection to business assets and properties against the risk of theft fire accidents or any other natural calamities insurance keeps the person free from tension fear and worries of various risks 2 insurance reduces business risk or losses in business commerce and industry huge properties are employed the property may be turned into ashes due to the slight negligence a person may not be sure of his life and health it is impossible to eliminate risk