Which statement is FALSE regarding Section C of the Standard Policy Form (S.P.F. 1)?

The statement regarding the nature of collision or upset not applying to vessels traveling between Canada and the U.S.A is inaccurate because it misrepresents how insurance coverage operates for vessels under the standard policy. Specifically,, collision or upset refers to incidents where a vessel is damaged due to collision with another object or due to tipping or overturning. Generally, coverage for such incidents typically applies irrespective of the geographic boundaries unless explicitly restricted in the policy.

In contrast, the other statements accurately portray the types of coverage. Specified Perils indeed covers only those named perils explicitly listed in the policy, providing limited protection. Comprehensive coverage, on the other hand, offers a broader scope by covering all risks of physical loss or damage, aside from those specifically excluded in the policy documentation. Finally, All Perils coverage extends similar comprehensive protections but holds certain exclusions as well, clearly defined in the terms of the policy. Each of these coverage types highlights different levels of risk protection that insurers provide within the framework of the Standard Policy Form.