Homeowners Policies

Question 1

How many perils are covered in a Basic Form (HO-1)?

Answer 1

The HO-1 has 11 covered perils.

Question 2

Are contents covered under Basic Form (HO-1)?

Answer 2

No unless they are specifically enumerated

Question 3

What are the perils covered under the Basic Form (Ho-1)?

Answer 3

1. Fire or lightning
2. windstorm or hail
3. vandalism or malicious mischief
4. theft
5. damage from vehicles or aircraft
6. explosion, riot or civil commotion
7. glass breakage
8. smoke
9. volcanic eruption
10. personal liability

Question 4

How many perils are covered under the (HO-2)?

Answer 4

17 perils.

Question 5

Is the Basic Form (HO-2) named peril or open peril coeverage?

Answer 5

Named peril coverage

Question 6

Basic Form (HO-3): named or open peril coverage for dwelling?

Answer 6

Open peril coverage

Question 7

Basic Form (HO-3): named or open peril coverage for contents?

Answer 7

Named peril coverage

Question 8

Which policy is specific for renters?

Answer 8

HO-4. It covers contents with same same contents perils as the HO-2 or HO-3

Question 9

Does the HO-4 include personal liability coverage?

Answer 9

Yes

Question 10

How does the Homeowners Basic Form (HO-5) cover contents?

Answer 10

Contents are covered as open perils. Contents can also be covered under the HO-3 as open perils if an HO15 endorsement is added.

Question 11

What form is intended to be used for condos?

Answer 11

Basic Form HO-6