Which type of policy insures a property against all perils specifically listed in the policy?

The correct answer is the named peril policy. This type of insurance specifically covers only those risks or perils that are explicitly listed in the policy. For instance, if a named peril policy includes coverage for fire, theft, and vandalism, it will only provide protection against these specific events. Any peril not mentioned in the policy would not be covered, which is a key characteristic of this type of insurance.

In contrast, an all-risk policy provides coverage for all perils except those that are specifically excluded. This means that unless a peril is explicitly stated as not covered, it is generally included. A comprehensive policy is often used interchangeably with all-risk but typically emphasizes broader coverage. The special form policy is often considered another name for an all-risk policy, which further reinforces the distinction between it and the named peril policy. Thus, the named peril policy is uniquely defined by its limitation to specific risks listed within its terms.