Types of Homeowner's Insurance

There are a number of policy types within the realm of Homeowner’s insurance. Knowing the right policy for you can take some research, but can be made easier with the help of a knowledgeable insurance agent. In the meantime, read the following to learn more about common homeowner’s insurance policies.

HO-1 –Basic Form Policy

The HO1 policy is the most basic of homeowner’s insurance policies. This policy will provide your dwelling, detached structure and personal property with coverage against a number of specific perils. Perils that are covered by this homeowner’s insurance policy include: fire or lightning, vandalism or malicious mischief, windstorms or hail, damage from aircraft or other vehicles, explosions, glass breakage, volcanic eruption, smoke and personal liability.

HO-2 –Broad Form Policy

The HO-2 policy consists of coverage for all of the perils listed in the HO-1 policy, as well as a number of additional perils including: fallen objects, snow, frozen or discharged water from plumbing, air conditioning, heating, and damage  from electrical surge. 

HO-3 –Special Form Policy

This homeowner’s insurance policy is one of the most all-inclusive of all single family home policies. The HO-3 policy, which is most often purchased, includes protection from any peril aside from a few excluded ones. Exclusions can differ depending on the policy and should be researched accordingly.

HO-4 Renter’s Insurance Policy

The HO-4 policy covers tenant property within their building, but not the building itself. The HO-4 insurance policy will typically cover the same perils as the HO-2 policy. Like with any policy though, it is important to look into all of the coverages included in your homeowner’s insurance policy.

HO-6 Condominium Insurance Policy

Similar to the HO-4 Renter’s insurance policy, the HO-6 will cover an individual’s property within their condominium unit. Insurance for the actual building should be taken care of by the condominium association policy. 


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