Latest Answer: Named Perils insurance includes the specific events during which the insurance is applicable. For example, you can get insured if there is a frequent occurrence of natural or accidental disasters such as fire or Earthquakes that your property is prone to, provided these events are specified in the insurance policy.
Where as in All Risk Policy, the insurance can be claimed on the property on all the unexpected events of disasters, except those specifically mentioned in the policy. Accidents happen in the most unexpected ways and forms, so this type of policy is best suited for uncertain occurrence of events.
