{ "@context": "https://schema.org", "@type": "DefinedTerm", "name": "Named Peril", "description": "A named peril policy covers only the causes of loss specifically listed in the policy. If the cause of your damage is not on the list, it is not covered regardless of the extent of the loss.", "inDefinedTermSet": { "@type": "DefinedTermSet", "name": "Insurance Terms Glossary", "url": "https://olivecover.com/insurance-terms" } }
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General

Named Peril

A named peril policy covers only the causes of loss specifically listed in the policy. If the cause of your damage is not on the list, it is not covered regardless of the extent of the loss.

A policy that only covers losses from causes specifically listed. Example: a basic homeowners form lists fire, lightning, wind, and ten other named perils. Damage caused by a sewer backup is not on the list and not covered, even though the structure suffered real harm.