Which term refers to an insurance policy that insures against events that cause bodily injury and property damage but excludes certain named perils?

The term that accurately describes an insurance policy that insures against events causing bodily injury and property damage while excluding certain named perils is a named peril policy. This type of policy specifically lists the perils that are covered, meaning that if an event is not included in that list, it will not be covered under the policy. For example, if a named peril policy covers fire and theft but excludes flood, any damage caused by flooding would not be compensated.

In contrast, an all-risk policy or open peril policy provides broader coverage, safeguarding against all perils unless specifically excluded. A comprehensive policy, often used in auto insurance, typically refers to coverage for a variety of incidents that may not involve a collision. By understanding the definitions and distinctions among these types of policies, it is clear why the named peril policy correctly aligns with the question's description.