What is a policy that covers all causes of loss except those specifically excluded?

A policy that covers all causes of loss except those specifically excluded is known as an open peril or special form policy. This type of policy provides comprehensive protection, ensuring that any damage or loss is covered unless it falls under a list of specified exclusions outlined in the policy documents.

The advantage of an open peril policy is that it offers a broader scope of coverage compared to named peril policies, which only cover losses explicitly listed. It simplifies the claims process for policyholders since they do not have to prove that a loss was included in the policy's coverage, as long as it is not included in the list of exclusions.

This type of coverage is particularly beneficial for property owners who want the reassurance that most risks are covered, giving them peace of mind regarding their investments. By understanding the nature of open peril policies, individuals can better assess their insurance needs and make informed decisions regarding their coverage options.