Home & Property
Open Perils (All Risk)
A coverage approach where all causes of loss are covered unless explicitly excluded in the policy.
Last reviewed: May 2026 · Editorial methodology
Definition
Open-perils coverage — sometimes called all-risk or special-form coverage — inverts the named-perils approach: instead of listing what is covered, the policy lists what is not covered, and everything else is insured. Common exclusions include flood, earthquake, earth movement, nuclear hazard, wear and tear, and intentional acts. The insurer bears the burden of proving an exclusion applies when it denies a claim under an open-perils form, which is more favorable to the policyholder than under named-perils forms. The HO-3 uses open perils for the dwelling (Coverage A and B), while the HO-5 extends open perils to personal property as well. Open-perils forms typically cost 10–20% more than comparable named-perils forms, reflecting the broader scope of coverage. Policyholders should read the exclusions section carefully — the breadth of open-perils coverage is ultimately determined by what has been carved out.
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Cover Forge USA Editorial Team
Editorial Lead
This article was researched and written by the Cover Forge USA editorial team against federal sources (NAIC, CMS, FEMA, DOL, SSA, state DOIs) and standard policy forms. Bylines organize content by topic — they do not assert individual licensure. See our editorial-policy for details.
Reviewed 2026-06-14
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