THE FALLS INSURANCE CENTER, INC.
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NAMED PERIL (BROAD FORM) is very specific on what types of losses are covered. The policy only pays if the loss is a result of the named peril. We carry two main types of named peril forms; The Broad Form and the Special Broad Form.
The Broad Form named peril usually covers losses caused by fire, lightning, flood, theft, windstorm, tornado, hail, earthquake, explosion, vehicle damage and smoke damage. It will also usually pay for vandalism, civil commotion, missiles, falling objects and sudden and accidental discharge of water from a burst plumbing system. Typically this is the lowest priced policy you can buy.
The Special Form named peril usually covers the same perils as the Broad Form but may also include flood insurance or other types of losses. The price is usually more than a Broad Form but less than a Comprehensive Policy.