Specified perils insurance is a type of coverage for auto insurance that insures the policyholders car against damage due to certain perils pre-defined in the policy.

What is specified perils coverage. Specified Perils. You have protection for the perils specifically listed in your policy. Specified perils coverage is a part of the insurance policy that covers losses resulting from particular events that are pre-defined in the text of the policy such as.

Premium rebating by brokers is permitted by RIBO provided the insured is advised of the practice before the rebate takes place. If you have a low-risk tolerance it is worth considering. It wont cover damage from vandalism or falling objects here.

Fire engulfs your next-door neighbours house spreads to your garage and destroys your insured car or truck. What is Specified Perils Coverage. The most common named perils are the ones we tend to think of.

Specified Perils coverage protects you from named events beyond those provided in your standard auto insurance policy. Aircraft or vehicle impact. Named perils is another name for this.

Named Perils or Specified Perils coverage protects you from the perils specifically listed in your insurance policy only. Specified perils covers damage or loss to your vehicle. Coverage for specific events perils that are outlined in your policy.

Like comprehensive coverage but at a lower price. This typically includes damage caused by things like fire hail lightning theft and earthquakes but it doesnt cover vandalism falling objects or animal damage. Perils not named are excluded from this type of coverage.