Named Perils
Insurance Glossary
A coverage basis under which only the causes of loss specifically listed in the policy are covered, and anything not on the list is not. Standard homeowners forms use it for personal property, listing causes such as fire, lightning, windstorm, theft and vandalism. Under this basis the policyholder has to show the loss came from a listed cause, which is the reverse of how an open perils basis works.
This content is for general informational purposes only and is not insurance, legal, or financial advice. Coverage, exclusions, eligibility, and pricing vary by insurer, by policy, and by state, and only the policy documents control what is covered. Always confirm the details of any coverage with a licensed insurance agent or the issuing carrier before you buy.