What type of insurance provides coverage for losses from all perils unless specifically excluded?

Open perils insurance, also known as all-risk insurance, provides comprehensive coverage for a wide range of potential losses unless the policy explicitly states exclusions. This means that any peril not specifically listed as excluded is covered. This type of insurance is beneficial for policyholders because it simplifies the claims process—if something happens, they generally do not have to prove that the peril is covered; they simply need to demonstrate that it was not excluded by the policy.

In contrast, named perils insurance only covers risks that are explicitly listed in the policy, and specific and limited perils policies further narrow the scope of coverage to particular events or situations. Therefore, open perils coverage offers the broadest protection available in insurance policies, making it an attractive option for individuals seeking extensive safety from unforeseen incidents.