What is an ho3 home insurance policy?

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HO-3 policies cover liability expenses and costs of living elsewhere. HO-3 homeowners insurance covers you for a variety of other expenses related to your home beyond your physical property. Common coverages include personal liability, loss of use and medical payments. Sep 29, 2021

What is ACV price?

What Is Actual Cash Value? Actual cash value (ACV) is the amount equal to the replacement cost minus depreciation of a damaged or stolen property at the time of the loss.

What is B1 limited replacement cost?

B1 – Limited Replacement Cost Loss Settlement. (5) we will not pay for increased costs resulting from enforcement of any ordinance or law regulating the construction, repair or demolition of a building or other structure, except as provided under Option OL – Building Ordinance or Law Coverage. b.