The Philippine Standard Fire Policy covers basically:

• A. Earthquake
• B. Fire and Lightning
• C. Typhoon
• D. Flood

Answer: (B)

The main idea here is what risks are included by default in a Philippine Standard Fire Policy. By design, this policy covers loss or damage caused by fire, and it also includes damage from lightning, since lightning is closely tied to fire risk. Other common perils like earthquakes, typhoons, and floods aren’t part of the basic coverage and would need add-ons or separate policies to be insured. So the best answer reflects that Fire and Lightning are the standard covered perils, while the others require additional endorsements if you want protection for them.