Which of the following is an example of a specified peril under a Dwelling Policy?

Under a Dwelling Policy, specified perils refer to particular risks or hazards that are explicitly covered by the insurance. Fire is a classic example of a specified peril, as it is commonly included in insurance policies to provide coverage for damage caused by this event.

The reason fire is a specified peril is that it is a well-defined risk that can lead to significant property loss. Insurance policies often outline these specified perils to clarify which types of damage are covered and to provide transparent guidelines for claims.

While other options like flood and earthquake might be significant hazards, they typically fall under different insurance policies, such as separate flood insurance or earthquake insurance, rather than being covered directly by standard Dwelling Policies. Wear and tear, on the other hand, is typically considered a maintenance issue and not an insurable event under these policies. Thus, focusing on fire as an example highlights the specific and targeted nature of coverage that dwelling policies provide.