HO-3: Special Form

The HO-3 form, or special form homeowners insurance, is the most common and versatile policy type. It provides "open peril" coverage for the structure of the home, meaning it covers all risks except those specifically excluded. Personal property is covered on a "named peril" basis, protecting against specific listed risks. HO-3 also includes liability coverage, medical payments, and additional living expenses, offering broad and flexible protection for homeowners.

HO-3 POLICY TYPE: Open Peril (All-Risk) for the Dwelling and Named Peril for Personal Property

HO-3 DWELLING COVERAGE: Replacement Cost (RC)

HO-3 PERSONAL PROPERTY COVERAGE: Actual Cash Value (ACV)

WHO IS THE HO-3 FORM FOR? Most homeowners have an HO-3 policy. 

HO-3 POLICY COVERAGE:

• Dwelling Coverage: YES
• Other Structures Coverage: YES
• Personal Property Coverage: YES
• Additional Living Expenses (ALE): YES
• Personal Liability Coverage: YES
• Medical Payments Coverage: YES

HO-3 PERILS COVERED: 

• Fire or lightning
• Windstorm or hail
• Explosion
• Riot or civil commotion
• Aircraft
• Vehicles
• Smoke
• Vandalism and mischief
• Theft
• Volcanic eruptions
• Falling Object
• Weight of ice, snow or sleet
• Water/Steam Accidental Discharge or Overflow
• Water/Steam tearing, cracking, burning, or bulging
• Freeze: plumbing, heating, AC, fire sprinkler, appliance
• Artificially generated Electrical Current damage
• All perils except flood, earthquake, war, nuclear accident, landslide, mudslide, sinkhole and others specified in the policy.