What characteristic defines the Basic form in property insurance?

The Basic form in property insurance is defined by its coverage of named perils. This means that it specifically lists the perils or risks that are covered under the policy. If a peril is not mentioned in the list, it is not covered. This approach provides clarity for policyholders, as they can easily see what specific risks are insured, such as fire, theft, and vandalism. The focus on named perils contrasts with broader coverage forms, which may cover all perils except for specific exclusions, thus offering a more limited scope of coverage compared to other forms. The emphasis is on the specific events explicitly listed in the policy, making it crucial for policyholders to review these items closely to understand their coverage limitations.