Homeowners Insurance Policies

What is an example of a situation covered by HO-3 insurance?

• Covers damage from a fire but may exclude damage from floods.

• Covers all types of water damage including floods.

• Covers theft of personal property only.

• Covers damage from earthquakes and landslides.

What are common exclusions in an HO-3 policy?

• Earthquakes, flooding, government action, intentional loss, neglect, nuclear hazard, ordinance or law, power surges that originate off your property, and war.

• Theft, vandalism, fire damage, and personal liability.

• Water damage from appliances, personal property loss, and identity theft.

• Accidental damage, loss of rental income, and coverage for pets.

What is HO-4 (Contents Broad Form) insurance?

• A type of insurance for homeowners

• Also known as renters' insurance, it covers personal property and liability for tenants.

• Insurance that covers only natural disasters

• A policy for commercial property insurance

What is an example of a situation covered by HO-2 insurance?

• If a tree falls on your house during a storm, an HO-2 policy would cover the damage.

• If your car is stolen, an HO-2 policy would cover the loss.

• If a flood damages your basement, an HO-2 policy would cover the repairs.

• If a fire destroys your garage, an HO-2 policy would cover the damage.

What is HO-2 (Broad Form) insurance?

• Provides coverage for a broader range of perils than HO-1, including damage from fire, lightning, windstorm, hail, explosion, and more.

• Covers only damage from fire and theft.

• Offers no coverage for natural disasters.

• Is a type of life insurance policy.

What is an example of a situation covered by HO-5 insurance?

• Covers accidental damage to your belongings, like spilling paint on your carpet.

• Covers damage from natural disasters like earthquakes and floods.

• Covers liability for injuries to others on your property.

• Covers theft of personal property from your home.

What is HO-7 (Mobile Home Form) insurance?

• A type of homeowners insurance specifically designed for mobile homes, manufactured homes, and other factory-built homes.

• A policy that covers only the structure of a mobile home without personal property.

• An insurance policy for traditional single-family homes only.

• A type of insurance that covers only the contents of a mobile home.

What is an example of a situation covered by HO-8 insurance?

• Covers repairs to a historic home with unique architectural features.

• Covers standard home repairs after a fire.

• Covers personal liability for injuries on the property.

• Covers theft of personal belongings in a rental unit.

What is HO-8 (Modified Coverage Form) insurance?

• Provides coverage for older homes where the replacement cost exceeds the market value.

• Covers only the market value of the home regardless of age.

• Is a standard homeowners insurance policy for new constructions.

• Offers coverage for homes with no depreciation value.

What is HO-3 (Special Form) insurance?

• A type of insurance that covers only fire damage.

• The most common type of homeowners insurance, offering coverage for all perils except those specifically excluded.

• An insurance policy that only covers theft and vandalism.

• A specialized insurance for renters that covers personal property.