coverage for direct or indirect property loss, which can be analyzed under the following headings:

1. Peril-a particular peril may be included or excluded.
2. Property-a policy may cover only specified or scheduled property such as an automobile.
3. Person-the person covered must be specifically identified as the named insured in a policy.
4. Duration-policies are usually written for one year; a personal automobile policy is usually for six months.
5. Limits-limits are stated as a face amount in a policy.
6. Location-a policy may cover perils that strike only the premises of the insured, or it may provide off-premises coverage subject to a geographic restriction.
7. Hazard-the exclusions and suspension section states that if the insured increases a covered hazard (for example, if the insured starts processing explosives at home), the company can suspend or exclude the coverage.
8. Loss-insurance contracts cover either direct or indirect (consequential) loss.