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HO-5 policies offer the broadest coverage of all policy types. ... Learn more: HO-6 insurance. HO–7. An HO-7 insurance policy covers mobile or manufactured homes, including trailers, sectional ...
Of these, 79.52% had an HO-3 Special policy, and 13.35% had the more expensive HO-5 Comprehensive. Both of these policies are "all risks" or "open perils", meaning that they cover all perils except those specifically excluded. Homes covered by an HO-2 Broad policy accounted for 5.15%, which covers only specific named perils.
HO-3 policies: These are the most common homeowners insurance policy type and include all the basic coverage types. The key difference between HO-3 and HO-2 policies is that an HO-3 policy covers ...
The Florida Insurance Guaranty Association board met on March 31 and filed for an emergency assessment of 1% on all Florida property insurance policies. [32] That is in addition to a 0.7% for 2022, a 1.3% assessment from July 1 2022 to June 30 2023, and another 0.7% ending December 31 2023. [32]
Most standard HO-3 insurance policies provide coverage to single-family homes, though in some cases it can be used for townhouses or multi-family homes. HO-6 insurance, on the other hand, is ...
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