What does "specified perils" mean in property insurance?

In property insurance, the term "specified perils" refers to coverage that is restricted to specific named risks. This means that the policy outlines particular events or causes of loss that are covered, such as fire, theft, vandalism, or windstorm. If damage occurs due to a peril that is not listed in the policy, the insurer will not provide coverage for that loss.

Choosing this type of coverage allows policyholders to understand exactly what risks they are insured against, offering a level of clarity and enabling them to assess their exposure to potential losses. It contrasts with broader coverage types that may cover a range of risks without naming them specifically.