Types of 'HO' Forms

Just to give you an idea of the whole menu of homeowner policies available, here's a summary:

HO1 -- Basic Coverage is the very basic policy covering fire, lightning, windstorm, hail, explosion, riot, civil disturbance, damage from aircraft, damage from a vehicle, smoke damage, vandalism and malicious mischief, theft, structural glass damage and volcanic eruption. Also included is bodily injury, damage to property of others, cost of legal defense, medical payments, damage to personal property located at home or while traveling, and additional living expenses.

HO2 -- Broad Coverage includes the above risks plus burglary, falling objects and weight of snow or ice, freezing of pipes, HAVC systems or fire sprinklers, plumbing or heating system overflow damage, electrical accidents, and certain rupture damages to water heaters, heating and air conditioning appliances.

HO3 -- Special Coverage includes all perils except those specifically excluded (usually flood, earthquake, war, nuclear accident, normal wear and tear, continuous seepage, vandalism if vacant.) Typically written at replacement cost.

HO4 -- Renters Coverage insures contents and liability only. Renter's insurance offers liability and property coverage for renters that is similar to that available under homeowner's policies. Renter's insurance policies are subject to the same exclusions that apply to homeowner's policies, most particularly the business-use exclusion.

HO5 -- a broader form of HO3 extends all risk coverage to contents, home, unattached property and loss of use. Usually guarantees replacement cost.

HO6 -- Condo Coverage insures contents and interior elements only. The master policy of the condo association covers the structure and common elements.

HO7 -- there is no coverage class for this number. . .yet! Although some mobile home policies include this designation.

HO8 -- Basic coverage for historic residences, includes same risks as HO1. Generally Actual Cash Value coverage, not replacement cost.

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