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Named Perils

What Is a Named Peril?

A named peril is a specific event or circumstance your insurance policy may cover, such as fire, theft, slip-and-fall, and so on. 

A named peril policy lists the specific events or circumstances that it covers. If an event or circumstance occurs that is not listed on the policy, the policy will not respond to that claim.

Named perils definition.

Named Peril vs. Open Peril

A named peril policy only covers the specific perils listed on your policy. 

On the other hand, an open peril policy means your insurance can pay for claims arising from any peril unless it is specifically excluded.

Named Perils vs. All Risk

“All risk” is another term used to describe an open peril policy. While a named peril policy only covers claims arising from perils listed on the policy, the all risk policy covers all claims except those which are specifically excluded.

Special vs. Named Perils

A special form policy is another name for an open peril policy. It will cover any peril except what is specifically excluded, whereas the named peril policy only covers perils specifically listed on the policy.

What Does Named Peril Coverage Apply To?

Most named peril insurance policies cover claims arising from the following incidents:

  • Fire
  • Lightning
  • Explosion
  • Windstorm
  • Frost
  • Hail, rain, snow or sleet
  • Ice
  • Smoke
  • Vandalism and malicious mischief
  • Riot or civil commotion
  • Collision, upset, or overturn of a vehicle
  • Collapse
  • Theft
  • Sprinkler leakage
  • Volcanic action


Since named peril policies may list different covered situations, it is important to refer to your policy to see exactly what is listed and covered by your policy.

What Does Named Peril Not Cover?

A named peril insurance policy will not cover any claim that does not occur from one of the perils listed on the policy. Additional perils that may be excluded from a named peril policy include:

  • Governmental action
  • Nuclear hazards
  • War and military action
  • Earth movements (earthquakes, landslides, etc.)
  • Flood
  • Fungus


Please refer to your policy for exact information on perils covered, exclusions, conditions, and limitations.

Is FLIP’s Policy Named Peril?

Our inland marine (tools and equipment) policy is a named peril policy.