Which of the following is an example of a 'named peril' policy?

A 'named peril' policy provides coverage for specific risks that are explicitly listed in the policy document. This means that if a peril (or risk) is not listed, it is not covered under the policy. In the context provided, the description of the homeowner's policy that includes coverage for specific risks such as fire, theft, and vandalism fits the definition of a named peril policy.

It is important to recognize the distinctions in coverage types: for instance, a policy that covers all risks not specifically excluded is known as an 'open peril' or 'all-risk' policy, which provides a broader scope of coverage than a named peril policy. The options discussing natural disasters only or a full coverage auto policy do not strictly align with the description of named peril policies as they do not specify a narrowed list of covered perils. Therefore, the homeowner's policy exemplifies a named peril approach, as it clearly delineates which specific risks are insured against.