What is HO3 and HO6?
What is HO3 and HO6?
The largest difference between the two types of policies are that an HO3 policy is specifically for a house that is owner occupied and an HO6 policy was created for a condo unit owner. The HO3 policy is a mixture of named perils and open perils coverage. Feb 10, 2020
What is an HO 7 policy?
An HO-7 policy is a type of homeowners insurance designed for people who own mobile or factory-manufactured homes. Similar to a standard homeowners insurance policy, HO-7 insurance protects the structure of your mobile home and your personal property from perils like fire, burglary, and weather-related damage. Apr 13, 2021
Is HO3 a good insurance?
HO3 policies are the most commonly used because they are the most applicable to everyone and are generally considered to be the minimum acceptable coverage when obtaining a mortgage. An HO3 typically has 5 coverages: A, B, C, D and E.
