What distinguishes a special form policy from other dwelling policies?

A special form policy, often referred to in context of dwelling coverage as an "all-risk" policy, is characterized by its approach to coverage. Specifically, it covers all perils except those that are explicitly excluded in the policy. This means that unless a peril is mentioned as not covered, it is included, which offers broader protection compared to other types of dwelling policies that may only cover specified risks.

For instance, in contrast to named perils coverage, where only the risks explicitly outlined in the policy document are covered, a special form policy provides a more comprehensive safety net. This holistic approach is particularly beneficial for property owners seeking to protect their dwelling against a wide range of potential risks, thus reducing the chance of unexpected losses.

The primary distinction lies in this expansive scope of coverage, allowing policyholders to have peace of mind knowing they are safeguarded against many risks, rather than being limited to coverage for specific, named perils.