Which type of peril policy covers only those perils specifically identified?

The type of peril policy that covers only those perils specifically identified is the named peril policy. This policy explicitly lists the perils that are covered, which means that if a peril is not mentioned in the policy, it is not covered. This approach allows policyholders to have a clear understanding of what risks they are insured against, giving them the ability to evaluate their coverage more carefully.

In contrast, an open peril policy covers all risks except those specifically excluded. A combined peril policy would typically refer to multiple perils being covered under one policy, but it doesn’t have the specificity of a named peril policy. Limited peril policies would cover only a restricted number of perils or risks, but again, they do not emphasize the specific identification of covered perils as the named peril policy does. Thus, the named peril policy provides the clearest framework for understanding what is insured, making it an essential choice for those looking for specific coverage.