Which type of insurance coverage typically requires that specific risks be listed for protection?

Named perils coverage specifically requires that particular risks be explicitly listed in the policy for protection. This means that only the perils that are mentioned in the policy will be covered in the event of a loss. For example, if a homeowner's insurance policy indicates coverage for named perils like fire, theft, and windstorm, then only those specific events would be compensated for losses.

This coverage type focuses on defined risks, making it vital for policyholders to carefully review the list of covered perils to ensure adequate protection based on their individual needs. Understanding the specific risks listed is essential, as any peril not included in this list would not be covered by the policy. This contrasts with other types of coverage, such as all-risk coverage, which generally includes a broader range of perils unless specifically excluded. Comprehensive coverage, while also expansive, may not require detailing out risks like named perils coverage does. No-fault coverage pertains mainly to automobile insurance and relates to injuries regardless of fault, which does not fit the context of listing specific risks.