What does Basic Named Peril mean? Read on to discover the definition & meaning of the term Basic Named Peril - to help you better understand the language used in insurance policies.
Basic Named Peril
Relates specifically to property coverage and named causes of loss. Basic named peril policies cover 11 specific perils: fire, lightning, explosion, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism or malicious mischief, sprinkler leakage, sinkhole collapse, and volcanic action.
We hope the you have a better understanding of the meaning of Basic Named Peril.