Home Insurance

Types of Homeowners Insurance Coverage


The HO-3 is the most common policy form because of its broad range of coverage. It is an extended or special homeowner’s insurance policy form that protects against all 16 of the most common perils and almost any other peril.


The HO-8 policy form is frequently used to insure registered landmarks and architecturally significant structures. The payout of the actual cash value would be much smaller than that of the replacement cost.


Commonly referred to as “renter’s insurance,” this policy form covers personal property in a rented home or apartment. If you’re renting an apartment or house, you should have renters insurance for your apartment or house. Renters insurance, gives you some financial protection against natural disasters or common theft that can affect your living space and things. Loss of use coverage gives renters insurance policyholders financial protection and peace of mind in the event their rental home becomes uninhabitable.


HO-6 policies are designed for condo owners and co-op tenants. Condos are essentially treated similarly to a single home when it comes to homeowners insurance, since the policyholder owns his or her unit. They need an HO-6 policy to cover the part of the structure they own, their belongings inside, liability and additional living expenses should the unit become uninhabitable due to a covered peril.

MHP (Mobile Home Policy)

MHP policy forms protect mobile homes (sometime called manufactured homes) and any structures attached to them. The policies can cover the same 11 perils as an HO-1 or as many perils as the HO-3 forms detailed above.

What Home Insurance Covers?


This coverage protects the policyholder and their family members (including pets) from lawsuits for bodily injury or property damage that they are to blame for. It will pay for court costs as well as any awards you’re ordered to pay in court, up to the limit of the policy. Homeowners insurance also provides no-fault medical coverage, meaning if a friend or neighbor is injured in your home, they can submit medical bills to your insurance company. This allows their expenses to be paid without filing a liability claim against you.

Additional Living Expenses (ALE)

This portion of home insurance policies covers the cost of staying elsewhere if your home is damaged beyond a point it is livable. ALE covers things like hotel bills, restaurant meals and other expenses.

Other Protections Home Insurance Can Provide?

  • Debris Removal: Companies usually pay reasonable expenses to remove debris on property from a covered peril that caused a loss.
  • Loss Assessment: If a peril impacts your home or property covered by your homeowners insurance, you’ll have to have a professional damage assessment made.
  • Flood Insurance: Flood insurance protects a structure and its contents from water damage caused by a flood: a temporary condition where two or more acres of normally dry land are inundated by water or mudflow. Flood insurance protects two types of property: the structure of your home and the contents.
  • Flood Insurance High Risk Areas: Known as Special Flood Hazard Areas (SFHAs), there is a 25 percent chance of flooding occurring within a 30-year mortgage of a residence located in these areas. The federal government mandates that all home in these areas with mortgages from federally insured lenders have flood insurance policies.
  • Flood Insurance Moderate-To-Low Risk Areas: In these areas the likelihood of flooding can be substantially less than high-risk. However, nearly 20 percent of all claims to the National Flood Insurance Program come from this category. Flood insurance is not federally required in these areas but it is still recommended.


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