A named perils policy covers your belongings only against the specific causes of loss listed in the policy. An open perils (also called “all risk”) policy covers every cause of loss except the ones it specifically excludes. Most renters policies are named perils policies.
Named perils vs. open perils at a glance
| Named perils | Open perils | |
|---|---|---|
| What’s covered | Only listed perils | Everything not excluded |
| Who must prove what | You show a listed peril caused the loss | The insurer must show an exclusion applies |
| Accidents like dropping a laptop | Usually not covered | May be covered |
| Price | Lower | Higher |
| Availability for renters | Standard | Offered by some insurers as an upgrade |
What’s on a typical named perils list?
The standard renters form lists 16 perils, including fire, theft, windstorm, smoke, vandalism and sudden water damage from plumbing. See all 16.
Which is right for you?
Named perils covers the events that cause most serious losses. Open perils can make sense if you own expensive electronics or equipment and want protection against accidents like spills and drops. Either way, floods and earthquakes stay excluded unless you add separate coverage.
More terms explained: the renters insurance glossary.
New to this? Start with What is renters insurance?
This site offers general information, not insurance or legal advice. Coverage, prices and rules vary by insurer, policy and state, so always read your own policy and ask your insurer or agent about your situation.