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To understand the difference between HO-3 vs. HO-5 home insurance, you have to know a bit about how insurance works. Home insurance policies provide coverage for insurance perils, or types of ...
The most common type of homeowners insurance policy is the standard HO-3 Special Form policy. HO-5 policies offer the broadest coverage of all policy types.
Homeowner's policy is a multiple-line insurance policy, meaning that it includes both property insurance and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks. This means that it covers damage to one's property and liability for any injuries and property damage caused by the owner or members of ...
Open peril policies shift the burden of proof to the insurance company. HO-3 home insurance policies cover your dwelling and other structures on your property under open perils coverage, and HO-5 ...
The most basic home insurance policy is an HO-1, which provides coverage on the structure of your home. An HO-2 is a step above the HO-1, as it covers your home and personal belongings for named ...
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