Named Peril Policy


Definition of "Named peril policy"

Rosanta  Vallone
Rosanta Vallone Fletcher Realty Services Inc

Insurance contract under which covered perils are listed. Benefits for a covered loss are paid to the policy owner. If an unlisted peril strikes, no benefits are paid. For example, under the standard fire policy, fire is a particular listed peril. If an insured's home burns, he will be indemnified.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ