HO-1: Basic Form

"The HO-1 form—the no-frills, basic-burger version of homeowner's insurance. This bad boy handles the essentials, the greatest hits: fire, lightning, hail, theft—basically, the big dramatic stuff that makes movies exciting but ruins your day. But don’t get cocky; it skips all the fancy extras like earthquakes and you get stuck with a lot of money out of pocket to cover damages. Wanna cover your butt against anything more exotic than ‘house go boom’? You’re outta luck, pal. The HO-1 is for those who like their insurance extra lean and their risks extra spicy."

Troy Tiger

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HO-1: Basic Form

The HO-1 form, also known as a basic homeowners insurance policy, provides limited coverage for named perils. It protects against specific risks, such as fire, theft, and windstorm, but excludes broader protections like personal liability or additional living expenses. This type of policy is less common and is typically used in specific situations due to its minimal coverage scope.

HO-1 POLICY TYPE: Named Peril

HO-1 DWELLING COVERAGE: Replacement Cost (RC)

HO-1 PERSONAL PROPERTY COVERAGE: Actual Cash Value (ACV)

WHO IS THE HO-1 FORM FOR? HO-1 insurance isn’t recommended for most homeowners since the coverage is severely limited and most mortgage companies will not accept it due to those limits.