What is coverage L?

What is coverage L?

Coverage L — Liability — We pay, up to our limit, all sums for which an insured is liable by law because of bodily injury or property damage caused by an occurrence to which this coverage applies.

What is an ISO homeowners policy?

ISO HOMEOWNERS COVERAGE Individuals and families who own a private home in which they reside— This is typically a single-family dwelling, but sometimes an eligible two to four-family dwelling. A mobile home is not eligible for unendorsed coverage.

What is an HO 5?

Sometimes called the comprehensive form, an HO5 policy is a type of home insurance written on an open-perils basis. This means your insurer covers damage to your home and personal property when it’s caused by an event, or peril, as long as it’s not listed as an exclusion in the policy.

Is an HO3 policy all risk?

An HO3 policy is the one of the most common types of home insurance. The coverage is written on an open-perils basis for your home and other structures, which means it can cover any risks except for those specifically excluded in the policy.

Does home insurance cover mold?

Key Takeaways. Mold coverage isn’t guaranteed by your homeowners insurance policy. Typically, mold damage is only covered if it’s related to a covered peril. Mold damage caused by flooding would need to be covered by a separate flood insurance policy.