What is covered under the Special Form?

The Special Form, often referred to as "All Risks" or "Open Peril" coverage, provides comprehensive protection against a wide range of potential risks, covering physical loss or damage to property unless specifically excluded in the policy. This means that the policyholder is protected against any peril that is not expressly listed as an exclusion, making it a robust choice for securing property.

This form of coverage is designed to give the insured peace of mind, as it does not limit the protection to a specific list of perils. In contrast, basic perils coverage focuses only on specific widely recognized risks, while broad coverage would encompass more perils but may still exclude certain significant risks like fire. Vandalism coverage is very narrow, only addressing damage from intentional acts, which does not reflect the extensive scope offered by the Special Form. Thus, the Special Form's open peril nature is why it is accurately associated with coverage for physical loss.