What is the difference between a peril and a hazard with respect to insurance coverage?

Both of these terms are used frequently in insurance policies, particularly property insurance.

A peril is something that can cause a financial loss. Examples include falling, crashing your car, fire, wind, hail, lightning, water, volcanic eruptions, falling objects, illness, and death.

A hazard is any condition or situation that makes it more likely that a peril will occur. Types of hazards include:

* Physical hazards such as ice on the sidewalks, smoking, or skydiving

* Moral hazards such as dishonesty…