Since the peril of theft is open to the possibility of fraud and to additional risk there are some limitations on the coverage however.

Does specified perils cover theft. You cant steal your own property and make a claim and you cant make a claim if your spouse or another insured steals something even if they pawn the item. Plus if your vehicle is stolen by an employee someone making repairs or by someone who lives in your home your insurer will cover the loss or damage caused. Fire earthquake or explosion.

These coverages can be purchased on an all inclusive or comprehensive basis. But if someone spray-paints graffiti on your garage door and the graffiti must be removed and the door cleaned the damage is due to an insured peril vandalism. Protect your vehicle against risks from weather theft fire and more.

This coverage is optional in most provinces but if you finance or lease a vehicle the financial institution may not permit Specified Perils and may insist that Comprehensive cover is required. Break-ins a chipped windshield falling treesa lot more can happen to a vehicle than just a crash. When choosing make sure you are clear about what perils are included in your policy.

Obviously a loss caused by any insured is not covered. This is above what is part of a standard auto policy. It could also give you protection for many other risks.

Coverage - Specified Perils. For example your policy may name specific perils such as. Named perils covers common risks such as theft and weather damage.

The comprehensive portion of your policy pays for loss due to perils like hail flood theft fire glass breakage falling objects missiles explosions earthquakes windstorms vandalism or malicious mischief riot or civil commotion and collision with a bird or an animal. Comprehensive coverage helps in those cases. Risks that qualify for specified perils auto insurance coverage include fire theft hail lightening earthquakes windstorms rising water explosions and airplane crashes your broker or agent may know of more.