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An HO-2 policy is a type of homeowners insurance that only covers damages caused by perils specifically named in your policy. An HO-2 typically covers 16 named perils, including damage from fire ...
Swimming pools: Some home insurance providers may not issue policies to homeowners with swimming pools, while others may require specific safety criteria in order to insure the home. Depending on ...
There are usually 16 named perils on a home insurance policy. Learn what they mean. ... Most of the time, mold is not considered a covered peril by your home insurance provider. Insurers typically ...
Broad "named perils" [5] – this form expands on the "basic form" by adding 6 more covered perils. Again, this is a "named perils" policy. The loss must specifically be listed to receive coverage. Fortunately, the "broad form" is designed to cover the most common forms of property damage. Broad-form covered perils: All basic-form perils
DIC policy for homeowners. Similar to HO-3 or HO-5 policies, DIC insurance can be a named peril or all-risk policy. Homeowners usually look for coverage for at least one of the following perils ...
A named perils policy protects your home against 16 specific home insurance perils. “Perils” is just another word to indicate the types of disaster or mishap that can happen to damage your ...
Remember, if you choose not to schedule your personal property and not to insure it with blanket coverage, claims will likely be limited to the covered perils listed in your homeowners policy.
This type of policy is the most limited homeowners insurance policy that can be purchased. HO-1 policies do not include personal property or liability coverage and have a short list of covered perils.