Homeowners-Coverage Forms

Question 1

HO-2

Answer 1

• Broad Form

- Protection for losses caused by named peril

Question 2

HO-2 does not cover?

Answer 2

• Inside of a building for damage caused by rain, sleet, snow
• Inside of a building for loss caused by falling objects
• Walks, driveways or fences
• Water Damage if dwelling is unoccupied for more than 60 days.

Question 3

HO-3

Answer 3

• Special Form
• Provides protection for dwelling and other structures on an open peril basis and personal property is covered only for broad perils.

*Unlike HO-2, vehicle damage to walks, driveways or fences is covered

Question 4

HO-3 does not cover?

Answer 4

• Damage caused by freezing while unoccupied, unless owner takes reasonable care to shut off water supply
• Theft
• Defective planning, zoning, surveying
• Failure to act
• Power failure, flood

Question 5

HO-4

Answer 5

• Contents Broad Form
• Also known as tenant broad form
• Covers personal property for broad perils
• Can be written for a tenant who resides in a mobile home, apartment or rented dwelling, but does not provide coverage for dwelling itself

Question 6

HO-5

Answer 6

• Comprehensive Form
• Insures both dwelling and other structures on an open peril basis.
• Landlord furnishing limited to $2500

Question 7

Mysterious Disappearance

Answer 7

Losing or misplacing insured property. Part of HO-5

Question 8

HO-6

Answer 8

• Condominium Unit Owners

- Expands coverage to include parts of the building.

Question 9

HO-6 does not cover?

Answer 9

• Land

- Business Operated Structures

Question 10

**HO-6 does not protect against loss or expense due to cancellation of an agreement or lease

Question 11

HO-8

Answer 11

• Modified Coverage Form
• Used when replacement cost coverage is not practical.
• More useful for structures such as older homes