What type of insurance policy provides coverage for specific losses before the deductible is met?

The correct answer pertains to a named peril policy, which provides coverage specifically for losses that are explicitly listed in the policy. This means that if a loss occurs from one of the named perils covered under the policy, the insurer will provide compensation for that loss before the deductible is applied. This type of policy offers clarity regarding what risks are insured, allowing policyholders to understand the extent of their coverage.

In contrast, an actual cash value policy considers the depreciation of assets when calculating claim payouts, which may not be ideal for someone expecting full compensation without the deduction for depreciation. A replacement cost policy covers the full cost of replacing an asset without accounting for depreciation; however, it typically does not specify losses by defined perils the same way a named peril policy does. Lastly, an all-risk policy offers coverage for nearly all types of risks except those specifically excluded; while it can provide broader coverage, it does not focus on specific losses in the same manner as a named peril policy does. Thus, the most accurate choice for the question regarding specific loss coverage before a deductible is indeed a named peril policy.