Which type of property policy would typically cover losses from fire, theft, and vandalism?

A comprehensive policy is designed to provide broad coverage for various risks, including losses resulting from fire, theft, and vandalism. This type of policy typically encompasses a wide range of perils beyond just those mentioned, which can include water damage, falling objects, and more, depending on the specific terms of the policy.

In contrast, a peril-specific policy would only cover risks that are explicitly listed in the policy, potentially excluding major hazards like theft and vandalism unless they are specifically included. A liability policy primarily focuses on protecting against claims made by third parties for damages or injuries, which means it doesn’t cover property damage to the insured's own assets. A basic property policy usually includes fundamental coverage against specific risks, but its scope may be limited compared to a comprehensive policy, often leaving out certain events like theft or vandalism unless additional endorsements are included.

By encompassing a broad array of risks, a comprehensive property policy is particularly advantageous for individuals or businesses looking for extensive protection against common and severe losses in their property coverage.