What type of risk does property insurance cover that does not allow for a possibility of gain?

Property insurance is designed to protect against risks associated with loss or damage to property, which typically falls under the category of pure risk. Pure risks are situations where there is a chance of loss or no loss, but there is no possibility of a financial gain. This contrasts with speculative risks, where outcomes can be profit or loss.

In the context of property insurance, policyholders seek coverage to mitigate the financial consequences of events such as theft, fire, or natural disasters, which can result in a loss of property value or personal belongings. With pure risks, individuals or businesses cannot benefit from these unfortunate events. Instead, the insurance serves to alleviate the financial burdens they might impose.

On the other hand, options like speculative risk, business risk, and market risk involve situations where there is an opportunity for gain or profit as well as a potential for loss, which does not align with the nature of property insurance. Thus, pure risk is the correct categorization for the coverage that property insurance provides.