Kentucky Property and Casualty License Practice Exam 2026 - Free Property and Casualty Practice Questions and Study Guide

The type of peril coverage that requires an additional premium when purchasing is vandalism and malicious mischief. This type of coverage is considered a separate endorsement to a standard policy because it protects against losses due to intentional damage caused by others. Standard property insurance policies may not automatically include this coverage, so it necessitates an additional premium to provide that extra layer of protection.

In property insurance, basic automatic perils and extended coverage endorsements are typically included in broader policy packages, with extended coverage often available for an additional premium but generally not requiring a specific purchase like vandalism coverage does. Fair rental value is also not a peril but rather a coverage that compensates for lost income due to property damage preventing rental income generation. Thus, vandalism and malicious mischief stand out as the coverage that mandates the separate purchase of additional coverage and premium.