Which category of perils are covered under an open perils policy?

An open perils policy covers all perils except those that are specifically excluded in the policy documentation. This means that unless a cause of loss is explicitly stated as not covered, it will be included in the policy's protections. This comprehensive coverage is beneficial for policyholders, as it provides a broader range of protections compared to named perils policies, which only cover risks that are specifically listed.

In open perils policies, the onus is on the insurance company to prove that an excluded peril caused the loss in order for a claim to be denied, resulting in a more favorable position for the insured. This makes open perils policies a popular choice for homeowners and businesses seeking extensive coverage.

Other options reflect more limited forms of coverage. Named perils policies only cover specific risks that are enumerated, broad form perils imply a limited set of named coverages, and limited specified perils also restrict coverage to certain named dangers. None of these offer the same level of protection as an open perils policy, where the general rule is that all risks are covered unless specifically excluded.