What type of damages does a Standard Fire Policy insure against?

The Standard Fire Policy primarily insures against damage caused by fire or lightning. This type of insurance is designed specifically to cover losses that occur as a result of these two perils. It provides a foundational level of coverage for property owners, ensuring that they are protected against the significant financial impact that can arise from fire-related incidents.

Understanding the reason for this specificity can be important. Fire and lightning are common risks that can lead to substantial damage to structures and personal property, making it crucial for property owners to have protection against such events.

In contrast, other types of risks like theft, flood damage, and vandalism fall outside the coverage of a Standard Fire Policy. These risks are often addressed by additional endorsements or different types of insurance policies tailored to cover a broader range of potential losses. Thus, the answer is justified by the policy's focus on fire and lightning as its primary insured perils.