What are the three types of own-damage coverage?

The three types of own-damage coverage are collision, comprehensive, and specified perils.

Collision coverage protects against damage to your vehicle resulting from a collision with another vehicle or object, regardless of fault. It is designed to cover repair or replacement costs of the vehicle itself, ensuring that the owner can recover their losses from such events.

Comprehensive coverage offers protection against damages to the vehicle that are not the result of a collision, such as theft, vandalism, natural disasters, and other unforeseen incidents. This type of coverage gives owners peace of mind in knowing that their vehicle is protected from a wide array of potential hazards.

Specified perils coverage is a more limited form of insurance that covers only those risks specifically listed in the policy, which may include things like fire, theft, or specified types of damage. This coverage can be tailored to meet the needs of the vehicle owner who wants to manage risks selectively.

The other options mentioned, while they include some correct aspects of auto insurance, do not fully encompass the complete and commonly accepted definitions of own-damage coverage. Collision and comprehensive are standard terms, while specified perils provide further explanation of a type of coverage that falls under the broader umbrella of comprehensive.