Under a BAP, what does the specified perils coverage cover?

Specified perils coverage under a Business Auto Policy (BAP) is designed to protect against only the particular risks that are explicitly outlined in the policy. This means that only the perils that are named, such as fire, theft, vandalism, and certain natural disasters, are covered. If a peril occurs that is not listed in the policy, the business would not be compensated for the loss related to that incident.

This type of coverage differs significantly from comprehensive coverage, which provides broader protection against a wide range of risks, not just those that are specified. Additionally, it does not cover all types of damages, such as liability, which would require a different form of insurance. By understanding that specified perils coverage is limited to the specific risks mentioned, it becomes clear why the correct answer highlights that only these designated perils are covered.