Which type of policy typically lists specific events that are covered, such as theft or fire?

The type of policy that specifically lists particular events that are covered, such as theft or fire, is known as a defined events policy. This policy explicitly outlines which events are covered, meaning that the insured can refer to the list to understand what risks are included in their coverage. By specifying covered events, this type of policy provides clarity and sets clear boundaries on the protection offered, allowing policyholders to know exactly what risks they are insured against.

In contrast, comprehensive coverage policies generally offer broader protection that may cover multiple risks but still have some exclusions. An all-risk policy, often synonymous with open peril, covers all risks except those specifically excluded, offering broader coverage than a defined events policy. A liability coverage policy, on the other hand, focuses on protection against claims resulting from injuries or damages to other people or their property, which is separate from the coverage of specific events like theft or fire.