A named-perils policy specifies the events it insures, subject to definitions, exclusions and conditions. An event that seems similar to a listed peril is not automatically included under the contract.
The distinction that matters
Named-perils and broad accidental-loss wording use different structures, but neither should be judged from its label alone. The definition of the event can be decisive.
What to check
- The complete list of insured events.
- Definitions of storm, flood, fire or theft.
- Exclusions and exceptions for each event.
- Limits and excesses for the insured property.
Example to discuss
Ask whether water entering in two different ways is treated under the same listed event; an everyday description of water damage may not match the contract’s categories.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.