A specified peril policy insures against which of the following?

A specified peril policy is designed to cover only the perils that are explicitly listed in the policy documentation. This means that the insurer will only provide coverage for risks that are specifically identified, such as fire, theft, or vandalism, depending on what is included in the contract. This type of policy contrasts with an all-risk policy, which covers a broader range of potential losses unless specifically excluded.

When understanding specified peril policies, it's essential to recognize that policyholders should carefully review the listed perils to ensure they are covered for the risks relevant to their situation. This selective nature of coverage allows for potentially lower premiums compared to broader all-risk policies but requires policyholders to be aware of and understand the limitations of their coverage. Therefore, the statement that a specified peril policy insures against perils listed in the policy accurately captures the essence of this type of insurance.