<P> Open perils cover all the causes of loss not specifically excluded in the policy . Common exclusions on open peril policies include damage resulting from earthquakes , floods , nuclear incidents , acts of terrorism , and war . Named perils require the actual cause of loss to be listed in the policy for insurance to be provided . The more common named perils include such damage - causing events as fire , lightning , explosion , and theft . </P>
the standard fire policy is a named perils contract which means
require the actual cause of loss to be listed in the policy for insurance to be provided