What is an HO 5?

Contents

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 homeowners insurance the same as property insurance?

Property insurance refers to a series of policies that offer either property protection or liability coverage. Property insurance can include homeowners insurance, renters insurance, flood insurance, and earthquake insurance, among other policies.

What is an HO 4 policy?

HO4 insurance, or renters insurance, is financial coverage for 1) damages or losses to your stuff 2) legal fees if you’re sued 3) other’s medical bills if you’re at fault and 4) temp living expenses if your place becomes uninhabitable. Score!