What kind of insurance provides protection against property loss or damage due to specified perils?

The insurance that specifically provides protection against property loss or damage due to specified perils is known as property insurance. This type of insurance covers various risks that can lead to damage or loss of tangible assets, such as buildings, equipment, and inventory. Property insurance typically defines what specific perils are covered, which may include fire, theft, vandalism, and natural disasters like storms or floods.

This type of coverage is crucial for businesses and individuals in safeguarding their investments from unforeseen events that could result in significant financial losses. By contrast, liability insurance primarily protects against claims of negligence or harm to others, comprehensive insurance generally covers a broader range of risks but isn’t specifically targeted at property, and business interruption insurance focuses on income loss due to disruptions in operations rather than physical property damage. Therefore, property insurance stands out as the correct answer for this question, as it directly addresses protection against property loss or damage from specified risks.